Analyst David Risinger from Leerink Partners maintained a Buy rating on Bristol-Myers Squibb (BMY – Research Report) and decreased the price target to $55.00 from $68.00.
David Risinger has given his Buy rating due to a combination of factors including the current low valuation of Bristol-Myers Squibb’s stock and the potential future benefits from its pipeline. Despite recent setbacks with the failure of Cobenfy in Phase 3 trials for adjunctive schizophrenia treatment and Camzyos in non-obstructive hypertrophic cardiomyopathy, Risinger maintains an optimistic outlook.
Risinger highlights the potential of upcoming pipeline candidates like the Factor XIa blood thinner milvexian and a pulmonary fibrosis treatment candidate, LPA1, which could drive growth in 2026-2027. Additionally, if Bayer’s competing drug asundexian succeeds in its Phase 3 trial, it could positively influence the perception of milvexian, further supporting the Buy rating.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $68.00 price target.
BMY’s price has also changed slightly for the past six months – from $52.760 to $49.820, which is a -5.57% drop .