Analyst Evan Seigerman of BMO Capital maintained a Hold rating on Bristol-Myers Squibb, retaining the price target of $47.00.
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Evan Seigerman’s rating is based on a combination of factors, primarily focusing on the performance of Bristol-Myers Squibb’s new product, Cobenfy, in the market. The growth of Cobenfy has been stable, with weekly prescription rates increasing by a modest percentage. However, this growth has not met the anticipated levels that some investors expected for the second half of 2025.
The revenue projections for Cobenfy in the third quarter are slightly below consensus estimates, which contributes to the Hold rating. Additionally, the company’s hematology and immuno-oncology segments continue to generate consistent cash flows, and new product launches are progressing at a slower pace than initially expected. These elements combined suggest that the stock is fairly valued at present, justifying the Hold recommendation.
According to TipRanks, Seigerman is a 4-star analyst with an average return of 3.5% and a 46.68% success rate. Seigerman covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Bristol-Myers Squibb, and Eli Lilly & Co.