Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $62.00 at Wells Fargo & Company

Bristol-Myers Squibb (NYSE:BMY) had its price target raised by equities researchers at Wells Fargo & Company from $60.00 to $62.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 8.64% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective on the stock. Cantor Fitzgerald raised their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Trading Down 0.6 %

Bristol-Myers Squibb stock opened at $57.07 on Friday. The business’s 50-day simple moving average is $57.61 and its 200-day simple moving average is $53.65. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market capitalization of $115.74 billion, a PE ratio of -15.94, a PEG ratio of 2.10 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Equities research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BMY. Wealthspire Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 0.6% during the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after purchasing an additional 170 shares in the last quarter. Edmp Inc. lifted its position in shares of Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after acquiring an additional 171 shares during the period. Trust Point Inc. boosted its stake in Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after acquiring an additional 172 shares in the last quarter. Bedel Financial Consulting Inc. increased its stake in Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after purchasing an additional 175 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC raised its holdings in shares of Bristol-Myers Squibb by 2.4% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after purchasing an additional 179 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.