Bristol Myers second-quarter results beat expectations, helped by new drugs

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Go back to Bristol Myers second-quarter results beat expectations, helped by new drugs

Bristol-Myers Squibb Co. (BMY) PT Raised to $57 at Goldman Sachs

July 29, 2024 7:18 AM EDT

Goldman Sachs analyst Chris Shibutani raised the price target on Bristol-Myers Squibb Co. (NYSE: BMY) to $57.00 (from $55.00) while maintaining a Buy rating.

The analyst comments "BMY's noteworthy outperformance on Friday July 26 (+~11% vs. flat XLV), while it occurred amidst favorable shifts in the broader market macro backdrop, was earned, in our... More

Bristol-Myers Squibb (BMY) stock gains after raising full-year guidance

July 26, 2024 7:51 AM EDT

Bristol-Myers Squibb (NYSE: BMY) shares rallied more than 5% premarket Friday as the company reported a robust second quarter, surpassing Wall Street's expectations for both earnings and revenue, and raised its full-year guidance.

The pharmaceutical giant posted adjusted earnings per share (EPS) of $2.07, significantly higher than the analyst estimate of $1.64. Revenue for the quarter was also strong at $12.2 billion, beating the consensus estimate of $11.52 billion and marking a 9% increase from the same quarter last year, or an 11% rise adjusting for foreign exchange.

The company's performance was propelled by its Growth Portfolio, which saw... More