UBS Reiterates Buy Rating on Bristol-Myers Squibb Co. (BMY)

UBS analyst Michael Yee reiterated a Buy rating and $80.00 price target on Bristol-Myers Squibb Co. (NYSE: BMY).

The analyst commented, "BMY has a slew of Phase III readouts coming Q4 and into early 2027. Investor focus is really on Milvexian in afib and ADEPT (cobenfy in ADP) -- but those are now reading out in Q1/2027 so there is less binary risk in the near-term. So now, first up will be the admilparant (LPA1 agonist) data in IPF coming in Q4 (we est Oct) and then in PPF a few months after that (we think 2027). We have said that for the stock to work, we need to see positive pipeline momentum with IPF being the key start to that string of events into 2027…but expectations are somewhat low here for IPF & PPF so risk/reward is skewed to the upside at ~5-10% vs downside of 3-5% (and we are at 60% PoS it works in IPF and 70% in PPF). This could be a $2-4B drug and be a solid step to further offset the $25-30B LOE headwind with Milvexian SSP/Afib being $7-9B and Cobenfy ADP $2-3B too."

For an analyst ratings summary and ratings history on Bristol-Myers Squibb Co. click here. For more ratings news on Bristol-Myers Squibb Co. click here.

Shares of Bristol-Myers Squibb Co. closed at $67.61 yesterday.

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