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Bristol Myers Squibb (BMY.N) said on Tuesday its experimental cell therapy showed a high overall response rate in a mid-stage trial, ​in patients with a hard-to-treat form of blood cancer.

The study ​evaluated the therapy, called arlocabtagene autoleucel, or arlo-cel, in patients ⁠with advanced multiple myeloma who had already tried four major classes ​of standard treatments without lasting success.

Bristol Myers said the trial met its ​main goal by showing a meaningful improvement in the overall response rate among patients who had exhausted standard therapies.

It also met a key secondary goal, completely clearing ​detectable signs of the cancer in some patients.

While the drugmaker did ​not release specific numerical data, it said the results were statistically significant and clinically ‌meaningful ⁠and that full findings will be presented at an upcoming medical meeting.

Arlo-cel is a CAR-T cell therapy administered as a single infusion. The personalized treatment works by extracting a patient's own immune cells, modifying ​them in a ​laboratory to target ⁠a specific protein on cancer cells called GPRC5D and infusing them back into the body to attack ​the disease.

The therapy's safety profile was consistent with expectations ​and in ⁠line with other CAR-T and GPRC5D-targeting therapies, the company said.

Multiple myeloma is a cancer that forms in plasma cells, a type of white blood ⁠cell.

An ​estimated 36,000 new cases and nearly 11,000 ​deaths from the disease are expected in the United States this year, according to the ​American Cancer Society.

PRINCETON, N.J.--(BUSINESS WIRE)---- $BMY #CARTCellTherapy--Bristol Myers Squibb Announces Positive Topline Results from Registrational Phase 2 QUINTESSENTIAL Trial.

In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $66.82, marking a -1.87% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.38%. Meanwhile, the Dow experienced a drop of 0.51%, and the technology-dominated Nasdaq saw a decrease of 0.29%.

Shares of the biopharmaceutical company witnessed a gain of 6.14% over the previous month, trailing the performance of the Medical sector with its gain of 6.34%, and outperforming the S&P 500's gain of 2.08%.

The investment community will be closely monitoring the performance of Bristol Myers Squibb in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.68, marking a 3.07% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.46 billion, up 1.93% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.86 per share and revenue of $49.82 billion, indicating changes of +11.54% and +3.38%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.27% downward. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.93. This represents a discount compared to its industry average Forward P/E of 21.83.

It's also important to note that BMY currently trades at a PEG ratio of 0.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.99 based on yesterday's closing prices.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 160, finds itself in the bottom 35% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Bristol Myers Squibb remains a Strong Buy, trading at a 51% discount to sector median with a compelling risk/reward profile. BMY's growth portfolio delivered 15% YoY revenue growth, offsetting headwinds from Opdivo's decline and upcoming Eliquis patent expiry. The company boasts a 3.7% forward dividend yield, robust margins, and accelerating bottom-line growth, supporting its defensive, income-generating appeal.

Bristol Myers Squibb remains undervalued, trading at a 9.8x forward P/E with a 3.7% yield. BMY's growth portfolio now drives nearly 60% of revenue, offsetting legacy drug declines and supporting 5% YoY total revenue growth. Management raised full-year adjusted EPS guidance, with robust Eliquis growth and a strong pipeline of over 10 potential new medicines.

Dividend stocks can be tricky for investors. If you're looking to invest $1,000 and benefit from a stock that pays a dividend, you have to look past the stock's yield.

Yes, it's nice to have an above-average yield, but a company with an unsustainable dividend is no bargain. If the payout ratio is too high, there's a good chance a dividend cut is in the future, and that will likely lead to the stock's price tumbling as well, a double-whammy for investors.

Two healthcare stocks offering above-average dividend yields, paired with valuations that appear underpriced relative to historical standards and broader industry peers, are Bristol Myers Squibb (BMY +0.55%) and Pfizer (PFE +1.28%). Their shares are up more than 23% and 14%, respectively, so far this year.

Here's why I think investing $1,000 in either of these pharmaceutical stocks makes sense for income-oriented investors.

Image source: Getty Images.

They have strong track records of dividend growth Bristol Myers Squibb, based in Princeton, New Jersey, has paid dividends for 94 consecutive years and has increased its quarterly dividend for 17 straight years, including a 1.6% increase this year to $0.63 per share, yielding 3.76% at its current share price. That's nearly three times the S&P 500's average dividend yield.

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Evaluating dividend safety using free cash flow (FCF) rather than reported net income provides a sharper picture for pharmaceutical companies, as GAAP net income can be skewed by non-cash charges, asset write-downs, and merger & acquisition accounting amortization. Bristol Myers Squibb's trailing FCF per share is around $5.59, indicating a FCF dividend payout ratio of around 45%, which is certainly safe.

Pfizer, based in New York, has paid a dividend for more than 87 years, and has increased that quarterly dividend for 16 consecutive years, including a 2.3% raise last year to $0.43 per share. Its dividend yield is an attractive 6.04% at its current share price, but that yield is a little more precarious. Its FCF dividend payout ratio is around 89%, which is covered, but certainly riskier.

Pfizer's management team has emphasized that protecting and growing the dividend is a top financial priority. However, until cost-reduction programs and new drug launches expand cash margins further, dividend growth is likely to remain muted.

Investors are underestimating both portfolios Bristol Myers Squibb and Pfizer trade at steep discounts relative to major pharmaceutical peers such as Johnson & Johnson and Eli Lilly. Bristol Myers Squibb and Pfizer currently have forward price-to-earnings ratios below 10.

The main reason Bristol Myers Squibb's shares aren't higher is the concern about patent-exclusivity losses. However, the headwind from its loss of exclusivity for blockbusters such as the cancer therapy Revlimid and the blood thinner Eliquis is already priced into the stock, and the company's portfolio includes new oncology and immunology therapies that are beginning to offset its legacy patent losses.

In the second quarter, its legacy portfolio reported revenue of $5.4 billion, down 4%, year over year. However, its growth portfolio saw revenue rise by 15% to $7.6 billion, primarily due to cancer therapies Opdivo Qvantig, Breyanzi, and Opdualag, plus the anemia therapy Reblozyl and the heart medication Camzyos.

Pfizer soared during the pandemic because of its COVID-19 vaccine, Comirnaty, and the antiviral Paxlovid. Those sales are now sagging, but the company's research and development push and recent acquisitions, especially its $43 billion purchase of Seagan in 2023, should help it launch more than a dozen new drugs, as well as expand existing drugs, over the next few years.

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In the second quarter, while sales of Comirnaty and Paxlovid dropped by 34% and 95%, respectively, compared to the same quarter a year ago, Pfizer said its launched and acquired products saw revenue grow by 18% operationally, year over year.

Cancer therapies are helping the company offset declining COVID-19 revenue. Bladder cancer therapy Padcev saw sales of $667 million, up 27% over the same period a year ago. Lorbrena, which treats metastatic non-small cell lung cancer, reported sales of $354 million, up 41% year over year, while prostate cancer therapy Orgovyx reported sales of $146 million, up 51% over the same quarter last year.

The choice depends on the investor Bristol Myers Squibb is the safer bet for dividend investors. It is best suited for conservative investors who prioritize capital preservation and sustainable payout safety over ultra-high up-front yield. With a free cash flow dividend payout ratio comfortably under 50%, the company leaves ample headroom to absorb near-term drug patent expirations while channeling excess cash flow into pipeline development and debt reduction. It also appears to be further along in replacing declining therapies than Pfizer.

Pfizer would likely appeal to high-yield value seekers and contrarians focused on maximizing current income. Yielding more than 6%, Pfizer functions almost like a fixed-income substitute for investors seeking substantial up-front cash flow and willing to tolerate higher operational risk. However, because Pfizer's free cash flow payout ratio sits near 89%, this higher yield comes with a much narrower margin of safety.

Bristol Myers Squibb (BMY.N) has ended its partnership with cell therapy startup Cellares that aimed to expand ​the manufacturing of its personalized blood cancer therapy, a company spokesperson ‌told Reuters on Tuesday.

Bristol Myers determined that Cellares' cell therapy manufacturing platform, Cell Shuttle, could not meet the requirements to make its CAR-T therapy, Breyanzi, at commercial scale, the ​spokesperson said.

Cellares strongly disagrees with this characterization, the company told Reuters. The ​Cell Shuttle platform has already manufactured a Good Manufacturing Practice-compliant ⁠cell therapy product in an FDA-regulated clinical program, it said.

Personalized CAR-T therapies ​have transformed care for some blood cancer patients, but remain difficult and expensive ​to produce.

Breyanzi, first approved by the U.S. FDA in 2021, is used to treat lymphoma and other blood cancers. It generated $1.36 billion in sales in 2025.

Endpoints News first reported the development ​on Tuesday.

CELLARES TO CUT 100 JOBS
Cellares CEO Fabian Gerlinghaus had disclosed the ​loss of a "large pharmaceutical customer" in a LinkedIn post over the weekend, adding that this would ‌force the ⁠company to "resize" its workforce.

The startup will lay off about 100 employees at its South San Francisco facility on October 20, according to a notice filed with the California Employment Development Department on August 21. It will give affected workers ​at least 60 ​days' notice and ⁠full salary and benefits until October 20.

The notice did not mention severance packages.

Cellares did not respond to a Reuters ​request for comment on the layoffs.

The companies signed a deal ​in 2024 ⁠worth up to $380 million under which Bristol Myers reserved manufacturing capacity across the U.S., the European Union and Japan for CAR-T therapies.

Bristol Myers' decision only applies ⁠to Breyanzi ​and its approved manufacturing process.

CAR-T therapies work by ​removing a patient's immune cells, reprogramming them in a lab to fight cancer and infusing them ​back into the body.

Ancora Advisors LLC purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,068 shares of the biopharmaceutical company’s stock, valued at approximately $1,387,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Primecap Management Co. CA bought a new position in Bristol Myers Squibb during the 2nd quarter valued at $1,436,115,000. Canada Pension Plan Investment Board purchased a new stake in shares of Bristol Myers Squibb in the second quarter valued at about $241,223,000. Legal & General Group Plc bought a new position in shares of Bristol Myers Squibb during the second quarter valued at about $980,862,000. The Manufacturers Life Insurance Company purchased a new position in Bristol Myers Squibb during the second quarter worth about $125,419,000. Finally, Van Hulzen Asset Management LLC bought a new stake in Bristol Myers Squibb in the 2nd quarter worth about $975,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Bristol Myers Squibb Here are the key news stories impacting Bristol Myers Squibb this week:

Positive Sentiment: The FDA approved Zenbexus (iberdomide), BMY’s first-in-class CELMoD therapy, for adults with relapsed or refractory multiple myeloma in combination with Darzalex and dexamethasone. The approval adds a potential oncology growth driver and expands BMY’s treatment portfolio in a major cancer market. New FDA Approval Gives Bristol-Myers Squibb Another Potential Oncology Growth Catalyst Positive Sentiment: Zenbexus received accelerated approval based on improved minimal residual disease-negative complete response rates. As the first approved CELMoD therapy in this setting, it could strengthen BMY’s competitive position in multiple myeloma, although continued approval depends on confirmatory evidence. Zenbexus First-in-Class CELMoD Approval Positive Sentiment: BMY is extending clinical development of deucravacitinib, signaling longer-term ambitions in autoimmune diseases and potentially broadening its growth pipeline beyond oncology. Bristol Myers Squibb Extends Deucravacitinib Program Neutral Sentiment: Camzyos continues to gain momentum, but its ability to offset patent pressures on older products depends partly on an upcoming FDA decision regarding adolescent use and competition from rival heart drugs. Can Camzyos Growth Offset Bristol Myers Patent Pressures? Negative Sentiment: BMY ended its Cellares partnership after concluding that the Cell Shuttle platform could not support commercial-scale manufacturing of Breyanzi. The decision raises questions about manufacturing capacity and the pace of Breyanzi growth, despite avoiding further spending under the agreement valued at up to $380 million. Bristol-Myers Squibb’s Cellares Exit Raises Questions Over Breyanzi Growth Negative Sentiment: Senior Vice President Phil Holzer sold 500 BMY shares for approximately $33,750, reducing his holdings by 2.88%. The small transaction is generally a limited signal, but may add modest caution after the stock’s recent advance. Bristol Myers Squibb SVP Sells 500 Shares Negative Sentiment: A patent dispute involving Cytokinetics creates additional legal uncertainty around BMY’s products and could increase future litigation or commercial risks. What Does Bristol Myers Squibb Face After Zenbexus Approval and Patent Action? Wall Street Analysts Forecast Growth Several research firms have commented on BMY. Jefferies Financial Group lowered shares of Bristol Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Bank of America reduced their target price on Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating for the company in a report on Friday, July 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. UBS Group lowered Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a report on Wednesday, August 5th. Finally, TD Cowen started coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Moderate Buy” and an average target price of $66.06. View Our Latest Research Report on BMY

Insider Activity In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the sale, the senior vice president owned 16,862 shares in the company, valued at $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Bristol Myers Squibb Trading Down 0.9% Shares of BMY opened at $66.93 on Friday. The business’s 50-day moving average price is $61.51 and its 200-day moving average price is $59.64. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $68.64. The stock has a market cap of $136.73 billion, a PE ratio of 14.74, a P/E/G ratio of 0.18 and a beta of 0.22.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.44. The business had revenue of $12.97 billion for the quarter, compared to analyst estimates of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. Bristol Myers Squibb’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.95 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.8%. Bristol Myers Squibb’s dividend payout ratio is presently 55.51%.

(Free Report)

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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Beacon Pointe Advisors LLC acquired a new position in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 232,697 shares of the biopharmaceutical company’s stock, valued at approximately $13,408,000.

A number of other institutional investors have also recently modified their holdings of BMY. Darwin Wealth Management LLC acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new position in Bristol Myers Squibb during the 4th quarter worth approximately $25,000. Davis Asset Management L.P. bought a new position in Bristol Myers Squibb in the 2nd quarter valued at approximately $27,000. Bayban acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $31,000. Finally, EQ Wealth Advisors LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $32,000. 76.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares of the company’s stock, valued at approximately $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets BMY has been the subject of several research analyst reports. Citigroup reiterated a “neutral” rating and set a $70.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $59.00 target price (up from $54.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. TD Cowen initiated coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They set a “buy” rating on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.06. Read Our Latest Analysis on Bristol Myers Squibb

Trending Headlines about Bristol Myers Squibb Here are the key news stories impacting Bristol Myers Squibb this week:

Positive Sentiment: The FDA approved Zenbexus (iberdomide), an oral therapy for adults with relapsed or refractory multiple myeloma when used with Johnson & Johnson’s Darzalex and dexamethasone. As the first approved CELMoD therapy in this setting, Zenbexus provides BMY with another potential oncology growth driver and may help diversify its product portfolio. Will ZENBEXUS’s First-in-Class CELMoD Approval Based on MRD-Negative CR Change Bristol Myers Squibb’s Narrative? Positive Sentiment: BMY paid Atrium Therapeutics a $15 million milestone after Atrium delivered a lead RNA compound for an undisclosed cardiovascular indication. The payment signals progress in the collaboration and could strengthen investor confidence in BMY’s cardiovascular research pipeline, although the program remains early-stage and details are limited. Can Atrium Therapeutics’ $15 Million Milestone From Bristol-Myers Squibb Validate its RNA Platform? Neutral Sentiment: BMY announced a follow-on study for its deucravacitinib program, indicating continued investment in autoimmune diseases. The update supports the company’s longer-term pipeline strategy but does not yet provide a near-term revenue catalyst. Bristol-Myers Squibb Extends Deucravacitinib Program Negative Sentiment: Cytokinetics reported a first-ever Phase 3 success in non-obstructive hypertrophic cardiomyopathy, intensifying competition with BMY’s Camzyos cardiovascular franchise. A successful rival could pressure Camzyos’ longer-term growth prospects. Cytokinetics Scores a First-Ever in Its Rivalry Against Bristol Myers Negative Sentiment: BMY ended its partnership with Cellares after determining that the company’s manufacturing platform could not produce Breyanzi at commercial scale. The decision may delay planned capacity expansion for the cell therapy and raises questions about Breyanzi’s ability to meet future demand. Bristol-Myers Squibb’s Cellares Exit Raises Questions Over Breyanzi Growth Negative Sentiment: SVP Phil Holzer sold 500 BMY shares for approximately $33,750. The relatively small transaction is unlikely to materially affect fundamentals, but it adds a modest negative signal. Bristol Myers Squibb SVP Phil Holzer Sells 500 Shares Bristol Myers Squibb Stock Performance Shares of Bristol Myers Squibb stock opened at $66.62 on Friday. The business has a 50-day moving average price of $61.76 and a two-hundred day moving average price of $59.68. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $68.64. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. The company has a market cap of $136.09 billion, a P/E ratio of 14.67, a PEG ratio of 0.17 and a beta of 0.22.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.44. The company had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, analysts anticipate that Bristol Myers Squibb Company will post 6.95 EPS for the current year.

Bristol Myers Squibb Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.52 annualized dividend and a yield of 3.8%. Bristol Myers Squibb’s dividend payout ratio is currently 55.51%.

(Free Report)

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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PRINCETON, N.J.--(BUSINESS WIRE)---- $BMY #Camzyos--Bristol Myers Squibb Presents Data Up to Five Years Reinforcing the Long-Term Efficacy and Safety of Camzyos (mavacamten).

Barbara Oil Co. bought a new stake in Bristol Myers Squibb Company (NYSE:BMY – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 42,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,420,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Davis Asset Management L.P. acquired a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at about $27,000. Swiss RE Ltd. acquired a new stake in Bristol Myers Squibb during the 4th quarter worth approximately $25,000. Physician Wealth Advisors Inc. raised its holdings in Bristol Myers Squibb by 73.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 202 shares during the period. Darwin Wealth Management LLC purchased a new position in Bristol Myers Squibb in the second quarter valued at approximately $25,000. Finally, Addison Advisors LLC acquired a new position in Bristol Myers Squibb during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Up 0.1% Shares of NYSE BMY opened at $67.06 on Monday. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $68.64. The firm has a market cap of $136.98 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.17 and a beta of 0.22. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. The stock’s 50-day simple moving average is $60.55 and its 200-day simple moving average is $59.39.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.44. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The firm had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $11.74 billion. During the same quarter in the prior year, the business posted $1.46 earnings per share. Bristol Myers Squibb’s revenue for the quarter was up 5.7% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, equities analysts anticipate that Bristol Myers Squibb Company will post 6.95 earnings per share for the current fiscal year. Bristol Myers Squibb Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, July 2nd. This represents a $2.52 annualized dividend and a yield of 3.8%. Bristol Myers Squibb’s dividend payout ratio is presently 55.51%.

Wall Street Analysts Forecast Growth Several equities research analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Guggenheim reaffirmed a “buy” rating and set a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. UBS Group downgraded Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a report on Wednesday, August 5th. BMO Capital Markets reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. Finally, Raymond James Financial initiated coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They set a “strong-buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bristol Myers Squibb has an average rating of “Moderate Buy” and an average target price of $66.06.

Read Our Latest Research Report on BMY

Key Stories Impacting Bristol Myers Squibb Here are the key news stories impacting Bristol Myers Squibb this week:

Positive Sentiment: Bristol Myers Squibb plans to invest approximately $2.3 billion in a new Houston manufacturing facility, part of a broader $40 billion U.S. investment commitment. The project reinforces BMY’s confidence in domestic production capacity and could support long-term operational growth. Bristol-Myers Squibb Bets $2.3 Billion on Texas Positive Sentiment: BMY is collaborating with Chai Discovery on artificial-intelligence-driven antibody discovery. The partnership could help identify novel therapeutic candidates more efficiently and strengthens the company’s efforts to modernize its drug-development platform. Chai Discovery Collaboration Positive Sentiment: The company is launching a Phase 1 study of an early Alzheimer’s disease antibody. Although the program remains highly experimental, it adds another potential long-term growth opportunity to BMY’s pipeline. Early Alzheimer’s Antibody Study Positive Sentiment: Strong Eliquis performance is helping offset declines in BMY’s older products facing generic pressure, supporting a more favorable 2026 revenue outlook. Elevated call-option activity also signals increased bullish interest, though it is not a fundamental guarantee. Eliquis and Legacy Portfolio Analysis Neutral Sentiment: Early clinical work on navlimetostat shows continued pipeline activity, but the Phase 1-stage program has not yet produced efficacy data that would materially change near-term earnings expectations. Navlimetostat Study Update Negative Sentiment: Generic competition remains a key risk for BMY’s legacy portfolio. Investors must determine whether Eliquis growth and newer pipeline assets can replace revenue lost as established medicines face erosion. Legacy Portfolio Erosion Analysis Bristol Myers Squibb Profile (Free Report)

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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Key Takeaways Bristol Myers expects legacy portfolio revenues to decline 4-6%, better than its prior forecast.Eliquis sales rose 19% in the first half of 2026, lifting full-year growth expectations to 20-25%.Bristol Myers raised its 2026 revenue outlook to $49-$50B on growth portfolio strength. Bristol Myers’ (BMY - Free Report) legacy portfolio, comprising Eliquis, Revlimid, Pomalyst, Sprycel and Abraxane, continues to face significant erosion from generic competition.

Legacy portfolio revenues declined 5% year over year to $10.7 billion in the first half, primarily reflecting the impacts of generic competition for Revlimid, Pomalyst, Sprycel and Abraxane.

Within the legacy portfolio, Eliquis posted 22% growth in the second quarter of 2026 (results reported last month), driven by strong demand and continued market share gains.

Eliquis, a blood thinner, is co-commercialized globally with Pfizer (PFE - Free Report) .

The strong performance of Eliquis helped partially offset the revenue declines stemming from generic competition across the remainder of the legacy portfolio.

Eliquis' sales came in at $8.6 billion in the first half of 2026, up 19% from the first half of 2025.

The price reduction implemented at the beginning of the year is expected to benefit U.S. sales in the second half by eliminating the accumulated CPI-related penalty in certain government channels.

Management had previously expected Eliquis revenues to grow 10-15% in 2026. However, following its stronger-than-anticipated performance in the first half of 2026, management expects Eliquis revenue growth to be 20-25% for the full year.

Despite the availability of generic versions in the United States, Revlimid revenues have been relatively resilient, providing some support to the broader legacy portfolio.

Consequently, total legacy portfolio revenues are expected to decline 4-6% compared with the previously projected fall of 12-16%.

Supported by the strong performance of its growth portfolio and a more modest-than-expected decline in its legacy portfolio, BMY expects total revenues to be $49-$50 billion, up from its earlier projection of $46-$47.5 billion.

While Eliquis remains an important growth driver for BMY in 2026, management had previously indicated that the product would face increasing pressure thereafter, with sales expected to decline by $1.5-$2 billion in 2027. This anticipated decline is likely to weigh on legacy portfolio sales and could offset some of the gains from the company’s growth portfolio.

Competition for BMY’s Key DrugsBMY’s growth portfolio primarily comprises Opdivo, Orencia, Yervoy, Reblozyl, Opdualag, Abecma, Zeposia, Breyanzi, Camzyos, Sotyku, Krazati and others.

Oncology is a key therapeutic area of focus for Bristol Myers, which is developing and delivering transformational medicines in this space. However, BMY faces competition from large pharma companies like Merck (MRK - Free Report) and Pfizer.

The immuno-oncology space is dominated by pharma giant MRK’s blockbuster drug Keytruda (pembrolizumab).

Keytruda is approved for several types of cancer and alone accounts for around 48% of MRK’s pharmaceutical sales. Merck is currently working on different strategies to drive long-term growth of Keytruda.

Pfizer is one of the largest and most successful drugmakers in the field of oncology. It has an innovative oncology product portfolio of antibody-drug conjugates, small molecules, bispecifics and other immuno-oncology biologics that treat a wide range of cancers, including breast cancer, gastrointestinal cancer, genitourinary cancer, hematology-oncology and thoracic cancers, including lung cancer. Pfizer also has oncology biosimilars in its portfolio.

Pfizer’s position in oncology was strengthened with the addition of Seagen.

The company inked a licensing agreement with 3SBio for the development, manufacturing and commercialization of SSGJ-707, a bispecific antibody targeting PD-1 and VEGF, outside China.

BMY’s Price Performance, Valuation & EstimatesShares of Bristol Myers have gained 21.4% in the year so far compared with the industry’s 12.9% growth.

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From a valuation standpoint, BMY trades at a discount to the large-cap pharma industry. Going by the price/earnings ratio, shares currently trade at 9.88X forward earnings, higher than its mean of 8.63X but lower than the large-cap pharma industry’s 19.72X.

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The Zacks Consensus Estimate for 2026 earnings per share has moved north to $6.86 from $6.34 over the past 30 days, while that for 2027 has moved up to $6.44 from $6.12 in the same time frame.

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BMY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Advisors Capital Management LLC purchased a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,029,843 shares of the biopharmaceutical company’s stock, valued at approximately $59,340,000. Advisors Capital Management LLC owned about 0.05% of Bristol Myers Squibb at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. MJP Associates Inc. ADV purchased a new position in Bristol Myers Squibb in the 2nd quarter worth $322,000. PCM Encore LLC purchased a new stake in Bristol Myers Squibb during the second quarter valued at about $313,000. Vise Technologies Inc. purchased a new stake in Bristol Myers Squibb during the second quarter valued at about $8,177,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Bristol Myers Squibb during the second quarter valued at about $1,559,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Bristol Myers Squibb in the second quarter worth about $742,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades A number of equities research analysts have recently weighed in on the company. Raymond James Financial started coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They issued a “strong-buy” rating for the company. Jefferies Financial Group cut Bristol Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Guggenheim reiterated a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Argus raised Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, August 5th. Finally, Citigroup restated a “neutral” rating and issued a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.06.

Get Our Latest Research Report on Bristol Myers Squibb Key Stories Impacting Bristol Myers Squibb Here are the key news stories impacting Bristol Myers Squibb this week:

Positive Sentiment: Bristol Myers Squibb announced a collaboration with Chai Discovery to use artificial intelligence for antibody discovery. The partnership could improve the speed and efficiency of developing new therapies, although financial terms and the near-term earnings impact were not disclosed. Chai Discovery collaboration with Bristol Myers Squibb Positive Sentiment: An update on the Phase 1 study of navlimetostat indicates continued progress in Bristol Myers Squibb’s early-stage pipeline. The program remains experimental, so any commercial benefit is still distant and uncertain. Bristol Myers Squibb navlimetostat study update Positive Sentiment: Hematogenix said its minimal residual disease assay supported the FDA’s accelerated approval of Bristol Myers Squibb’s ZENBEXUS™, described as the first approved CELMoD therapy for multiple myeloma. The approval could expand the company’s oncology opportunity, though accelerated approvals typically require confirmatory evidence. Hematogenix assay and ZENBEXUS approval Positive Sentiment: Unusually heavy call-option activity, with 55,757 calls purchased—more than double the average volume—signals increased speculative interest in BMY. Options activity is not confirmation of a sustained rally and can increase volatility. Positive Sentiment: Analyst coverage continues to characterize BMY as an attractive value stock, supported by its relatively low valuation and income potential. A separate comparison also frames Bristol Myers Squibb as a potential bargain versus AstraZeneca, though these are opinion-based assessments. Zacks BMY value-stock analysis Neutral Sentiment: Articles discussing a covered-call strategy emphasize income generation rather than a bullish outlook for capital appreciation. The strategy may appeal to yield-focused investors but can limit upside if the shares rise sharply. Bristol Myers Squibb options income strategy Neutral Sentiment: A report on Aktis Oncology, which has attracted interest from Bristol Myers Squibb and other large pharmaceutical companies, highlights potential future deal activity but does not announce a transaction or create an immediate financial impact for BMY. Pharmaceutical interest in Aktis Oncology Bristol Myers Squibb Trading Down 3.1% BMY opened at $65.54 on Friday. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $68.64. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The business has a 50 day simple moving average of $60.35 and a two-hundred day simple moving average of $59.31. The firm has a market capitalization of $133.88 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.18 and a beta of 0.22.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.44. The firm had revenue of $12.97 billion for the quarter, compared to analyst estimates of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Analysts predict that Bristol Myers Squibb Company will post 6.95 EPS for the current year.

Bristol Myers Squibb Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were issued a $0.63 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $2.52 annualized dividend and a yield of 3.8%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 55.51%.

Bristol Myers Squibb Profile (Free Report)

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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SAN FRANCISCO--(BUSINESS WIRE)--Chai Discovery Announces Collaboration with Bristol Myers Squibb to Advance AI-Driven Antibody Discovery.

Bell & Brown Wealth Advisors LLC acquired a new position in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 42,598 shares of the biopharmaceutical company’s stock, valued at approximately $2,455,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BMY. Swiss RE Ltd. purchased a new position in shares of Bristol Myers Squibb during the 4th quarter worth $25,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol Myers Squibb during the second quarter worth about $25,000. Physician Wealth Advisors Inc. grew its position in Bristol Myers Squibb by 73.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 202 shares during the last quarter. Bayban purchased a new position in Bristol Myers Squibb in the 4th quarter valued at $31,000. Finally, EQ Wealth Advisors LLC acquired a new position in Bristol Myers Squibb in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades A number of equities analysts have commented on the stock. Wells Fargo & Company set a $65.00 price objective on shares of Bristol Myers Squibb and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Raymond James Financial assumed coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They set a “strong-buy” rating for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $59.00 price objective (up from $54.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Jefferies Financial Group downgraded shares of Bristol Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.06.

Check Out Our Latest Report on BMY Bristol Myers Squibb Stock Performance Bristol Myers Squibb stock opened at $67.59 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $68.64. The stock has a 50 day moving average of $60.18 and a 200-day moving average of $59.24. The stock has a market cap of $138.06 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 0.17 and a beta of 0.22.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.44. The business had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, analysts expect that Bristol Myers Squibb Company will post 6.95 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, July 2nd. Bristol Myers Squibb’s payout ratio is presently 55.51%.

Bristol Myers Squibb Profile (Free Report)

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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BlackRock Inc. grew its position in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 5.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 180,384,994 shares of the biopharmaceutical company’s stock after acquiring an additional 8,702,106 shares during the period. BlackRock Inc. owned about 8.83% of Bristol Myers Squibb worth $10,393,783,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Bristol Myers Squibb by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 65,046 shares of the biopharmaceutical company’s stock valued at $3,509,000 after buying an additional 172 shares in the last quarter. KCM Investment Advisors LLC increased its stake in shares of Bristol Myers Squibb by 0.8% in the 4th quarter. KCM Investment Advisors LLC now owns 20,871 shares of the biopharmaceutical company’s stock worth $1,126,000 after acquiring an additional 174 shares in the last quarter. Sandy Cove Advisors LLC increased its stake in shares of Bristol Myers Squibb by 4.7% in the 2nd quarter. Sandy Cove Advisors LLC now owns 3,932 shares of the biopharmaceutical company’s stock worth $227,000 after acquiring an additional 176 shares in the last quarter. Investment Research Partners LLC lifted its position in Bristol Myers Squibb by 1.4% during the 4th quarter. Investment Research Partners LLC now owns 13,134 shares of the biopharmaceutical company’s stock valued at $708,000 after acquiring an additional 179 shares during the period. Finally, ESG Planning DBA Harper Investing grew its holdings in Bristol Myers Squibb by 1.3% in the fourth quarter. ESG Planning DBA Harper Investing now owns 13,811 shares of the biopharmaceutical company’s stock worth $745,000 after purchasing an additional 180 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes A number of equities analysts have weighed in on BMY shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. Guggenheim restated a “buy” rating and issued a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. TD Cowen assumed coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They set a “buy” rating for the company. Truist Financial restated a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Finally, Piper Sandler began coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued an “overweight” rating for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Moderate Buy” and a consensus target price of $66.06.

Get Our Latest Research Report on BMY Bristol Myers Squibb Trading Up 2.2% Shares of NYSE:BMY opened at $66.07 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $68.10. The company has a market cap of $134.97 billion, a P/E ratio of 14.55, a PEG ratio of 0.17 and a beta of 0.22. The stock’s fifty day moving average price is $59.94 and its 200-day moving average price is $59.14.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.60 by $0.44. The company had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.Bristol Myers Squibb’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the company earned $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.95 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 2nd. Bristol Myers Squibb’s payout ratio is presently 55.51%.

(Free Report)

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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Rumors of an AstraZeneca PLC-Bristol-Myers Squibb Company merger are cooling, yet each company's standalone strength deserves closer scrutiny. Overall, AZN and BMY occupy leading positions in the cancer and immune-mediated inflammatory diseases markets. Each of them has advantages, as well as dark spots in the portfolio of drugs relative to the rival.

Key Takeaways Bristol Myers won FDA accelerated approval for Zenbexus in multiple myeloma after one prior therapy.Zenbexus doubled MRD-negative complete response rates versus the daratumumab-based regimen in EXCALIBER-RRMM.Bristol Myers is advancing protein degraders and has another CELMoD drug under FDA review.

Bristol Myers Squibb (BMY - Free Report) recently announced that the FDA has granted accelerated approval to iberdomide in combination with daratumumab and hyaluronidase-fihj and dexamethasone (ZDd).

The regimen, approved under the brand name Zenbexus, is approved for the treatment of adults with multiple myeloma who have received at least one prior line of therapy.

The full approval for this indication will be contingent upon verification and description of clinical benefit in the confirmatory trials.

Zenbexus is the first FDA-approved cereblon E3 ligase modulator (CELMoD), representing a novel class of cereblon-modulating protein degraders developed to treat multiple myeloma.

The approval was based on results from the EXCALIBER-RRMM study, which showed ZDd doubled minimal residual disease-negative complete response rates versus daratumumab, bortezomib and dexamethasone (41% vs. 21%) in relapsed or refractory multiple myeloma.

Per BMY, it is the only company to have successfully developed and commercialized protein degraders for multiple myeloma. Its immunomodulatory drugs (IMiDs) helped establish the current standard of care for this incurable disease. The company is advancing a broad pipeline of investigational protein degraders using three complementary approaches — CELMoD agents, ligand-directed degraders and degrader antibody conjugates.

By leveraging multiple degradation technologies, the company aims to target disease-causing proteins that were previously difficult to treat, expanding opportunities across hematology, oncology and other therapeutic areas.

Zenbexus is also being evaluated in the EXCALIBER Maintenance study.

While Zenbexus is the first FDA-approved CELMoD therapy, BMY has a new drug application under FDA review for investigational CELMoD mezigdomide in combination with carfilzomib and dexamethasone. The application has a target action date of May 13, 2027.

The company is reshaping its business to achieve sustained top-tier growth and maximize long-term value. The approval of new drugs brings an incremental stream of revenues to the company.

BMY’s Competition in Oncology SpaceOncology is a key therapeutic area of focus for Bristol Myers, which is developing and delivering transformational medicines in this space.  

The company competes with big pharma giants like Merck (MRK - Free Report) and Pfizer (PFE - Free Report) in this space.

The immuno-oncology space is dominated by pharma giant MRK’s blockbuster drug Keytruda (pembrolizumab).

Keytruda is approved for several types of cancer and alone accounts for around 48% of MRK’s pharmaceutical sales. Merck is currently working on different strategies to drive long-term growth of Keytruda.    

Pfizer is one of the largest and most successful drugmakers in the field of oncology. It has an innovative oncology product portfolio of antibody-drug conjugates (ADCs), small molecules, bispecifics and other immune-oncology biologics that treat a wide range of cancers, including breast cancer, gastrointestinal cancer, genitourinary cancer, hematology-oncology, and thoracic cancers, including lung cancer.

Pfizer’s position in oncology was strengthened with the addition of Seagen.

The company inked a licensing agreement with 3SBio for the development, manufacturing and commercialization of SSGJ-707, a bispecific antibody targeting PD-1 and VEGF, outside China.

BMY’s Price Performance, Valuation & EstimatesShares of Bristol Myers have gained 18% year to date compared with the industry’s growth of 5.2%.

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From a valuation standpoint, BMY is trading at a discount to the large-cap pharma industry. Going by the price/earnings ratio, shares currently trade at 9.79X forward earnings, higher than its mean of 8.63X but lower than the large-cap pharma industry’s 18.73X.

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The Zacks Consensus Estimate for 2026 EPS has moved north to $6.81 from $6.32 in the past 60 days, while that for 2027 has moved north to $6.42 from $6.05 in the same time frame.

Image Source: Zacks Investment Research

PRINCETON, N.J.--(BUSINESS WIRE)--Bristol Myers Squibb (NYSE: BMY) today announced that the U.S. Food and Drug Administration (FDA) has approved ZENBEXUS™ (iberdomide) in combination with daratumumab and hyaluronidase-fihj and dexamethasone (ZDd) for the treatment of adult patients with multiple myeloma who have received at least one prior line of therapy including a proteasome inhibitor and an immunomodulatory agent.1 Full approval for this indication will be contingent upon verification and description of clinical benefit in the confirmatory trial(s). ZENBEXUS is the first FDA-approved CELMoD, belonging to a new class called cereblon-modulating protein degraders for the treatment of multiple myeloma.1 Please see the Important Safety Information section below, including Boxed WARNINGS for ZENBEXUS regarding embryo-fetal toxicity and venous and arterial thromboembolism. ZENBEXUS is contraindicated in females who are pregnant.1

$BMY announced @US_FDA granted accelerated approval for its first CELMoD in relapsed or refractory #MultipleMyeloma, introducing a new class of treatment.

Share “Today’s approval of ZENBEXUS represents meaningful progress for patients living with multiple myeloma and underscores the power of our targeted protein degradation platform, particularly our CELMoD programs,” said Cristian Massacesi, MD, chief medical officer and head of development at Bristol Myers Squibb. “As the first approved CELMoD, ZENBEXUS marks the arrival of a new treatment class and is an important milestone in our efforts to expand what is possible for patients with multiple myeloma. And we believe this is only the beginning. This approval validates years of scientific research and strengthens our confidence in the potential of this approach as we continue to advance our innovative pipeline on behalf of patients with significant unmet needs.”

Approval of ZENBEXUS is based on results from the Phase 3 EXCALIBER-RRMM trial evaluating ZENBEXUS, daratumumab and hyaluronidase-fihj and dexamethasone (ZDd; n=207) compared to daratumumab, bortezomib and dexamethasone (DVd; n=213) in patients with RRMM.1 At a median follow-up of 16 months, results showed treatment with ZDd demonstrated a statistically significant improvement in one of the dual primary endpoints of minimal residual disease (MRD)-negative complete response (CR) in 41% of patients (n=85; 95% CI: 34-48) vs. 21% of patients (n=44; 95% CI: 15-27) treated with DVd (p < 0.0001).1 MRD-negativity is among the deepest measures of response in multiple myeloma and is considered predictive of improved progression-free survival (PFS).2 This FDA decision marks the first approval in relapsed or refractory multiple myeloma based on MRD-negative CR.

“The FDA approval of iberdomide marks the anticipated arrival of a new therapeutic class for relapsed or refractory multiple myeloma and has the potential to make a meaningful difference for patients,” said Sagar Lonial, MD, FACP, FASCO, EXCALIBER-RRMM lead investigator and chief medical officer of the Winship Cancer Institute of Emory University. “The strong results observed with the CELMoD-based combination within a familiar triplet approach creates the potential for a new treatment foundation in multiple myeloma.”

The combination of ZDd was observed to have a safety profile that is expected of the combination, with 7.8% of patients discontinuing ZDd due to adverse reactions.1 Among the key safety findings, ZDd can cause serious, life-threatening, or fatal infections and severe neutropenia.1 Neutropenia and infections in patients who received ZDd occurred at a rate of 90.2% and 78.9%, respectively, leading to few discontinuations (1% and 1.5%, respectively).1 The most common adverse reactions (≥20%) in the ZDd arm and DVd arm, respectively, were upper respiratory tract infection (54% and 52%), fatigue (36% and 33%), musculoskeletal pain (35% and 33%), pneumonia (34% and 17%), diarrhea (33% and 36%), motor dysfunction (26% and 17%), rash (26% and 15%), sleep disorder (25% and 28%), hypogammaglobulinemia (24% and 12%), COVID-19 (23% and 16%), and constipation (20% and 22%).1 Serious adverse reactions in ≥2% of patients included pneumonia (26%), upper respiratory tract infection (6.4%), second primary malignancy (5.9%), neutropenia (4.9%), febrile neutropenia (3.9%), COVID-19 (4.4%), and sepsis (2.9%).1 Fatal adverse reactions occurred in 10 patients (4.9%) who received ZENBEXUS.1 Sepsis (1.5%) was the only fatal drug reaction that occurred in more than 1 patient.1 The following fatal adverse reactions occurred in 1 patient each: listeria encephalitis, influenza, lung adenocarcinoma, cardiac arrest, large intestine perforation, metabolic acidosis, and respiratory failure.1

“The goal for every person living with multiple myeloma is not simply to live longer, but to live well,” said Heather Cooper Ortner, president and chief executive officer of the International Myeloma Foundation. “That is why it is important to have access to effective therapeutic options, particularly in the community setting where the majority of myeloma care is delivered. This approval represents an important step forward by expanding treatment options for patients facing their first relapse. Every new option gives patients and their healthcare teams additional choices as treatment needs evolve, as well as renewed hope for the future.”

ZENBEXUS was granted Breakthrough Therapy designation and accelerated approval based on MRD-negative CR at any time in the EXCALIBER-RRMM study.1 This review was conducted under the FDA’s Project Orbis initiative, which enables concurrent review by the health authorities in several other countries.

While ZENBEXUS is the first FDA approved CELMoD therapy, a New Drug Application for mezigdomide, an investigational CELMoD, in combination with carfilzomib and dexamethasone is also currently under review with the FDA with a Prescription Drug User Fee Act target date of May 13, 2027.

Bristol Myers Squibb offers various programs and resources to address the needs of patients and caregivers, and provides support that allows for access to therapies, including ZENBEXUS.

About EXCALIBER-RRMM
EXCALIBER-RRMM (NCT04975997) is a Phase 3, multicenter, two-stage, randomized, open-label study evaluating the efficacy and safety of ZENBEXUS (iberdomide) in combination with daratumumab and hyaluronidase-fihj and dexamethasone (ZDd) versus daratumumab, bortezomib, and dexamethasone (DVd) in patients with relapsed or refractory multiple myeloma (RRMM).2 The study included a dose optimization stage and was designed to assess dual-primary endpoints of minimal residual disease (MRD) negativity and progression-free survival (PFS), with additional secondary endpoints including overall survival (OS), overall response rate (ORR), safety and sustained MRD negativity.2 The study remains ongoing to assess the primary endpoint of PFS. Eligible participants included adults with 1 to 2 prior lines of anti-myeloma therapy and progressive disease.2 A total of 939 patients were randomized.1 The primary efficacy population for MRD negativity included the first 420 patients randomized to the ZENBEXUS (1 mg) + Dd arm (n=207) or the comparator daratumumab, bortezomib, and dexamethasone (DVd) arm (n=213).1 Treatment in both arms was administered until disease progression or unacceptable toxicity.1

This approval, the first in RRMM based on MRD-negative complete response (CR), marks the first public disclosure of MRD-negative CR data from the EXCALIBER-RRMM trial. The MRD data were first disclosed at the time of approval to preserve the integrity of the study while additional endpoints mature. The study remains ongoing, with patients continuing to be evaluated for PFS, one of the trial's dual primary endpoints. Full data from EXCALIBER-RRMM are expected this year.

About Minimal Residual Disease (MRD)
Minimal residual disease (MRD) refers to the small number of cancer cells that may remain in a patient’s body after treatment and are undetectable using conventional diagnostic methods.3 In multiple myeloma, MRD assessment has emerged as a highly sensitive and clinically meaningful tool for evaluating treatment response.3 MRD negativity does not necessarily mean all cancer cells are gone.3

Modern MRD detection methods, such as next-generation sequencing (NGS) and next-generation flow cytometry (NGF), can identify one malignant cell among 100,000 (threshold for MRD) to 1,000,000 normal cells, offering unprecedented precision in measuring disease burden.3 MRD is increasingly being used in clinical trials as a surrogate endpoint for progression-free survival (PFS) and is gaining recognition from regulatory authorities for its role in accelerating approval timelines.2

Indication
ZENBEXUS (iberdomide) in combination with daratumumab and hyaluronidase-fihj and dexamethasone is indicated for the treatment of adult patients with multiple myeloma who have received at least 1 prior line of therapy including a proteasome inhibitor and an immunomodulatory agent.

This indication is approved under accelerated approval based on minimal residual disease (MRD)-negative complete response (CR) at any time. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial(s).

IMPORTANT SAFETY INFORMATION

CONTRAINDICATIONS

Based on the mechanism of action and findings in animal studies, ZENBEXUS can cause birth defects or embryo-fetal death in humans. ZENBEXUS is contraindicated in females who are pregnant. If this drug is used during pregnancy or if the patient becomes pregnant while taking this drug, the patient should be informed of the potential hazard to a fetus.

WARNINGS AND PRECAUTIONS

Embryo-Fetal Toxicity

Females of Reproductive Potential: Must avoid pregnancy while taking ZENBEXUS and for at least 4 weeks after completing therapy. Advise females of reproductive potential of the potential risk to a fetus and to use 2 methods of effective contraception for at least 4 weeks before beginning ZENBEXUS therapy, during therapy, during dose interruptions and for at least 4 weeks after the last dose of ZENBEXUS therapy. Refer patients who can become pregnant to a qualified provider of contraceptive methods, if needed.

Two negative pregnancy tests with a sensitivity of at least 25 mIU/mL must be obtained prior to initiating therapy. Pregnancy testing should be performed weekly during the first 4 weeks of treatment. Thereafter, testing should occur every 4 weeks in patients with regular menstrual cycles, or every 2 weeks in patients with irregular menstrual cycles.

Females of reproductive potential taking ZENBEXUS must not donate eggs during treatment and for 4 weeks after completion.

Males: ZENBEXUS may pass into human semen. Advise patients who can impregnate partners to use effective contraception during treatment and for 4 weeks following the discontinuation of ZENBEXUS therapy. Male patients taking ZENBEXUS must not donate sperm during treatment and for 4 weeks after completion.

Blood Donation: Patients must not donate blood during treatment with ZENBEXUS and for 4 weeks following discontinuation of ZENBEXUS therapy.

ZENBEXUS REMS

ZENBEXUS is available only through a restricted program called ZENBEXUS REMS, because of the risk of embryo-fetal toxicity. Prescribers must be certified with and patients must be enrolled in the ZENBEXUS REMS Program and comply with ongoing monitoring and contraception requirements. Further information about ZENBEXUS REMS, including information for pharmacies, wholesalers, and distributors, is available at www.ZENBEXUSREMS.com or by telephone at 1-888-423-5436.

Serious Venous and Arterial Thromboembolism

ZENBEXUS can cause serious and life-threatening venous thromboembolic events (DVT and PE) and arterial thromboembolic events (myocardial infarction and stroke). In the EXCALIBER-RRMM study (N=204), venous thromboembolic events occurred in 6.4% of patients treated with ZENBEXUS combined with daratumumab and hyaluronidase-fihj and dexamethasone (IberDd) despite mandatory thromboembolism prophylaxis. The incidence of DVT was 3.4% and the incidence of PE was 1.5%.

Arterial thromboembolic events occurred in 3.4% of patients. The incidence of myocardial infarction was 2.0%, and the incidence of stroke (CVA) was 1.5%.

Monitor patients for signs and symptoms of thromboembolic events during treatment with ZENBEXUS. Patients with known risk factors, including prior thrombosis, may be at greater risk, and actions should be taken to try to minimize all modifiable factors (e.g., hyperlipidemia, hypertension, smoking). Thromboprophylaxis is recommended, and the choice of regimen should be based on assessment of the patient's underlying risk factors. In patients who develop a thromboembolism, interrupt ZENBEXUS and initiate anticoagulant therapy according to guidelines.

Neutropenia

ZENBEXUS can cause severe neutropenia. In the EXCALIBER-RRMM study, all-grade neutropenia was reported in 90.2%, Grade 3 in 30.9%, and Grade 4 in 53.4% of patients in the IberDd arm. Febrile neutropenia occurred in 5.4% of patients.

Monitor complete blood count throughout treatment with ZENBEXUS. Interrupt, reduce dosage, or discontinue ZENBEXUS, as necessary. Initiate granulocyte colony-stimulating factor (GCSF) as appropriate per guidelines.

Infections

ZENBEXUS can cause serious infections, including life-threatening or fatal infections. Patients with active or uncontrolled infection should not start ZENBEXUS treatment until the infection is controlled. In the EXCALIBER-RRMM study, infections, including opportunistic infections, were reported in 78.9%, Grade 3 in 35.8%, Grade 4 in 3.4%, and fatal infections in 2% of patients receiving IberDd. Serious infections occurred in 40% of patients. Discontinuations due to infections occurred in 1.5% of patients.

Monitor patients for signs and symptoms of infection prior to and during treatment with ZENBEXUS and treat appropriately. Withhold or reduce the dose based on severity.

Consider prophylactic anti-infective medications according to current practice guidelines.

Second Primary Malignancies

In the EXCALIBER-RRMM study, at a median follow-up time of 16 months, second primary malignancies (SPM) occurred in 6.9% of patients in the IberDd arm and 4.9% of patients in the daratumumab and hyaluronidase-fihj, bortezomib, and dexamethasone (DVd) arm.

Monitor patients for the development of SPM.

ADVERSE REACTIONS

Serious adverse reactions occurred in 58.3% of patients receiving ZENBEXUS. Serious adverse reactions in ≥2% of patients included pneumonia (26%), upper respiratory tract infection (6.4%), SPM (5.9%), neutropenia (4.9%), febrile neutropenia (3.9%), COVID-19 (4.4%), and sepsis (2.9%). Fatal adverse reactions occurred in 10 patients (4.9%) who received ZENBEXUS. Sepsis (1.5%) was the only fatal drug reaction that occurred in more than 1 patient. The following fatal adverse reactions occurred in 1 patient each: listeria encephalitis, influenza, lung adenocarcinoma, cardiac arrest, large intestine perforation, metabolic acidosis, and respiratory failure.

The most common adverse reactions (≥20%) in the IberDd arm and DVd arm, respectively, were upper respiratory tract infection (54% and 52%), fatigue (36% and 33%), musculoskeletal pain (35% and 33%), pneumonia (34% and 17%), diarrhea (33% and 36%), motor dysfunction (26% and 17%), rash (26% and 15%), sleep disorder (25% and 28%), hypogammaglobulinemia (24% and 12%), COVID-19 (23% and 16%), and constipation (20% and 22%).

The most common Grade 3 to 4 laboratory abnormalities (≥30%) in the IberDd arm and DVd arm, respectively, were neutropenia (77% and 11%), leukopenia (69% and 18%), and lymphopenia (62% and 51%).

DRUG INTERACTIONS

Effects of Other Drugs on ZENBEXUS

Strong or Moderate CYP3A Inhibitors: Coadministration of ZENBEXUS with strong or moderate CYP3A inhibitors should be avoided. If a strong or moderate CYP3A inhibitor must be used in combination with ZENBEXUS, reduce the ZENBEXUS dose. Concomitant use with strong or moderate CYP3A inhibitors may increase the risk of adverse reactions.

Strong or Moderate CYP3A Inducers: Coadministration of ZENBEXUS with strong or moderate CYP3A inducers should be avoided. Concomitant use with a strong or moderate CYP3A inducer may decrease the efficacy of ZENBEXUS.

SPECIFIC POPULATIONS

Pregnancy (See the BOXED WARNINGS)

There is a pregnancy exposure registry that monitors outcomes in patients exposed to ZENBEXUS during pregnancy. See the ZENBEXUS REMS WARNINGS AND PRECAUTIONS section.

Lactation

Advise women not to breastfeed during treatment with ZENBEXUS. Refer to the Prescribing Information for daratumumab hyaluronidase-fihj or dexamethasone for additional information.

Females and Males of Reproductive Potential

ZENBEXUS can cause fetal harm when administered during pregnancy.

Pregnancy Testing, Females of Reproductive Potential, and Males: See the Embryo-Fetal Toxicity WARNINGS AND PRECAUTIONS section.

Geriatric Use

In patients treated with IberDd, the incidence of serious adverse reactions was 53%, 56%, and 74% in adult patients younger than 65 years of age, 65 years of age to younger than 75 years of age, and 75 years of age and older, respectively.

Renal Impairment

Reduce the ZENBEXUS dose in patients with estimated glomerular filtration rate (eGFR) less than 30 mL/min/1.73 m2 not on dialysis. If dose modification is needed due to adverse events, reduce the ZENBEXUS dose to 1 mg every other day on Days 1 to 21 of a 28-day cycle.

Please see full Prescribing Information for ZENBEXUS including Boxed WARNINGS.

About Targeted Protein Degradation and CELMoD
Targeted protein degradation (TPD) is a differentiated research platform at Bristol Myers Squibb built on more than two decades of scientific expertise, providing new avenues to degrade therapeutically relevant proteins that were previously considered difficult to address. BMS is the only company that has successfully developed and commercialized protein degrader agents for the treatment of multiple myeloma. These agents, known as immunomodulatory drugs (IMiDs), helped establish the current standard of care in the treatment of this disease, which remains without a cure. BMS is building on this foundation with several investigational protein degraders in clinical trials, leveraging three different modalities including cereblon E3 ligase modulators (CELMoDs), ligand-directed degraders (LDDs), and degrader antibody conjugates (DACs). This three-pronged approach enables matching the right therapeutic modality to a molecular mechanism of action to modulate targets most effectively and ultimately provides more opportunities for potential breakthroughs that may offer meaningful new options for patients across a broad range of diseases, in and beyond hematology and oncology. Learn more about the science behind TPD at Bristol Myers Squibb here.

About Ongoing Trials
ZENBEXUS™ is also being evaluated in the EXCALIBER Maintenance study.

About Bristol Myers Squibb: Transforming Patients' Lives Through Science
At Bristol Myers Squibb, our mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. We are pursuing bold science to define what's possible for the future of medicine and the patients we serve. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, X, YouTube, Facebook and Instagram.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, whether ZENBEXUS™(iberdomide) in combination with daratumumab and hyaluronidase-fihj and dexamethasone (ZDd) for the indication described in this release will be commercially successful, any marketing approvals, if granted, may have significant limitations on their use, and, that continued approval of ZENBEXUS™ (iberdomide) in combination with daratumumab and hyaluronidase-fihj and dexamethasone (ZDd) described in this release may be contingent upon verification of progression-free survival, the dual primary endpoint of the EXCALIBER-RRMM trial and potential further verification and description of clinical benefit in confirmatory trials. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb’s business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2025, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

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References

ZENBEXUS Prescribing Information. ZENBEXUS U.S. Product Information. August 2026. Princeton, N.J.: Bristol Myers Squibb Company. Lonial S, Dimopoulos MA, Berdeja JG, et al. EXCALIBER-RRMM: a phase III trial of iberdomide, daratumumab, and dexamethasone in relapsed/refractory multiple myeloma. Future Oncol. 2025;21(14):1761-1769. doi:10.1080/14796694.2025.2501920 Szalat RE, Anderson KC, Munshi NC. Role of minimal residual disease assessment in multiple myeloma. Haematologica. 2024;109(7):2049-2059. doi:10.3324/haematol.2023.284662.

A U.S. federal appeals court said a judge erred in dismissing a $6.7 ‌billion lawsuit accusing Bristol Myers Squibb of cheating former Celgene shareholders by delaying federal approval for three drugs, including the cancer treatment Breyanzi.

Key Takeaways Growth products rose 13% in the first half of 2026, reaching 56% of Bristol Myers' total revenuesOpdivo Qvantig, Reblozyl, Breyanzi, Opdualag, Camzyos and Cobenfy propelled first-half growth.Legacy products still make up 44% of revenues and face erosion after multiple patent losses. Bristol Myers Squibb (BMY - Free Report) is navigating a revenue mix shift as growth products portfolio now assumes a larger role in the business, helping mitigate the impact of declining sales from mature products facing generics.

The growth portfolio — including Opdivo, Opdivo Qvantig, Orencia, Yervoy, Reblozyl, Camzyos, Breyanzi, Opdualag, Zeposia, Sotyku, Krazati and Cobenfy — is becoming central to top-line resilience.

Sales from this segment rose 13% in the first half of 2026, lifting its contribution to 56% of total revenues from 51.8% in the first half of 2025. The stronger mix underscores improving revenue durability and supports a more favorable long-term growth outlook.

Within this mix, Reblozyl, Breyanzi, Opdualag, Opdivo Qvantig, Camzyos and Cobenfy propelled growth in the first half.

Opdivo Qvantig (nivolumab and hyaluronidase-nvhy - subcutaneous formulation) has witnessed strong uptake across all approved tumor types in the United States. Opdivo Qvantig is now generating annualized revenues of more than $1 billion.

Other key drugs are contributing to revenue growth, though at varying stages of maturity.

Opdualag continues to benefit from robust global demand and its leading position as a standard of care in first-line melanoma in the United States.

Reblozyl continues to deliver a stellar performance, driven by solid uptake in first-line MDS-associated anemia, sustained strength in the second-line setting and further penetration among first-line RS-negative patients.

Breyanzi’s sales continue to be solid, underscoring its strong commercial momentum. Growth is being driven by its best-in-class profile and robust demand across approved large B-cell lymphoma indications in the United States and international markets. The strong performance highlights sustained demand for the therapy and supports expectations for continued commercial expansion.

Cardiovascular drug Camzyos continues to deliver solid performance, supported by ongoing promotional efforts, an expanding base of new patient prescribers and deeper penetration into the community setting.

In immunology, Sotyktu remains an important growth driver. The recent approval in psoriatic arthritis expands its commercial opportunity and strengthens BMY’s presence in rheumatology. Additional upside could come from ongoing phase III programs in systemic lupus erythematosus and Sjögren’s disease, which may further broaden the drug’s addressable market, if successful.

Newer products such as Cobenfy for schizophrenia provide additional long-term optionality. Early launch momentum and potential label expansions could establish Cobenfy as another meaningful growth driver over time.

However, the portfolio transition remains a key challenge. Legacy products, including Eliquis, Revlimid, Pomalyst, Sprycel and Abraxane, still account for 44% of revenues and continue to face significant erosion following the loss of exclusivity for Revlimid, Pomalyst, Sprycel and Abraxane.

BMY’s Competition in Oncology SpaceOncology is a key therapeutic area of focus for Bristol Myers, which is developing and delivering transformational medicines in this space.  

The company competes with big pharma giants like Merck (MRK - Free Report) and Pfizer (PFE - Free Report) in this space.

The immuno-oncology space is dominated by pharma giant MRK’s blockbuster drug Keytruda (pembrolizumab).

Keytruda is approved for several types of cancer and alone accounts for around 48% of MRK’s pharmaceutical sales. Merck is currently working on different strategies to drive long-term growth of Keytruda.    

Pfizer is one of the largest and most successful drugmakers in the field of oncology. It has an innovative oncology product portfolio of antibody-drug conjugates (ADCs), small molecules, bispecifics and other immune-oncology biologics that treat a wide range of cancers, including breast cancer, gastrointestinal cancer, genitourinary cancer, hematology-oncology, and thoracic cancers, including lung cancer.

Pfizer’s position in oncology was strengthened with the addition of Seagen.

The company inked a licensing agreement with 3SBio for the development, manufacturing and commercialization of SSGJ-707, a bispecific antibody targeting PD-1 and VEGF, outside China.

BMY’s Price Performance, Valuation & EstimatesShares of Bristol Myers have gained 17.9% year to date compared with the industry’s growth of 6%.

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From a valuation standpoint, BMY is trading at a discount to the large-cap pharma industry. Going by the price/earnings ratio, shares currently trade at 9.63X forward earnings, higher than its mean of 8.62X but lower than the large-cap pharma industry’s 18.91X.

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The Zacks Consensus Estimate for 2026 EPS has moved north to $6.81 from $6.32 in the past 60 days, while that for 2027 EPS has moved north to $6.42 from $6.05 in the same time frame.

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BMY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Pfizer (PFE -1.59%) reported its second-quarter results on Aug.4. The company's performance was pretty good. Revenue increased 3% year over year to about $15 billion. That doesn't sound particularly impressive, but the drugmaker has been struggling to grow its sales in recent years. So, this isn't too bad a result for the pharmaceutical giant.

On the bottom line, Pfizer's adjusted earnings per share were $0.77, barely lower than the $0.78 reported in the year-ago period. The company's financial results beat expectations, and on top of that, Pfizer revised its revenue guidance upward for the fiscal year 2026. It now expects revenue between $60.5 billion and $62.5 billion, up from its previous estimate of $59.5 billion to $62.5 billion. However, the market wasn't too impressed.

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Running out of time Pfizer noted that the performance of its non-COVID portfolio was particularly strong. One medicine that helped push sales growth in the right direction was Eliquis, an anticoagulant. Pfizer shares the rights to this therapy with Bristol Myers Squibb (BMY -1.90%). In the second quarter, Pfizer's revenue from Eliquis was $2.4 billion, up 21% from the year-ago period. There is just one problem: Eliquis will lose patent exclusivity by the end of the decade.

That's sooner than it seems by pharmaceutical industry standards, given how long it takes to develop new medicines. Unless Pfizer can find a way to fill the gaping hole Eliquis will leave behind -- it is currently its single best-selling drug -- a slight increase in its guidance due to Eliquis (among other products) won't turn the bears into convinced bulls. It could actually have the opposite effect, since it may send the message that Pfizer still relies too much on this medicine, which will soon face generic competition, despite not having found a way to replace it yet.

There is more to the story Pfizer may not have found a medicine that will replace Eliquis yet, but it is slowly working toward that goal. The company has significantly expanded its pipeline in recent years and boasts a wealth of investigational therapies that could, eventually, generate over $1 billion in annual sales. Pfizer's work in the GLP-1 market is particularly noteworthy here. The company's leading candidate, berobenatide, is undergoing phase 3 studies. Berobenatide posted outstanding phase 2 clinical trial results on both efficacy and tolerability measures. Furthermore, it is a long-acting medication that can be administered monthly.

These factors make it a promising candidate. It's too early to call berobenatide Pfizer's replacement for Eliquis, but given the clinical trial data we have seen so far and the fact that the weight-loss market is growing incredibly rapidly (and should continue to do so for a while), cautious optimism is warranted.

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It's also worth pointing out that berobenatide isn't Pfizer's only candidate. The company boasts several more, including an oral option. We can also look at Pfizer's pipeline outside this area, and we see a similar story: Highly promising candidates in phase 2 or phase 3 studies. Pfizer could hit what may be the "holy grail" in the pharmaceutical industry with one of its oncology candidates, PF'4404: A potential pipeline-in-a-drug.

The company hopes that it will become a backbone therapy across multiple cancer types. The economics of developing a single drug that can earn approval across many indications are very attractive for drugmakers. That's what PF'4404 could offer Pfizer. What does all of this tell us about the company? Yes, it is still somewhat dependent on Eliquis, a drug that will lose patent exclusivity soon.

But Pfizer's deep pipeline seems more than capable of filling that gap. Even assuming a modest 50% success rate for ongoing phase 3 studies for brand-new clinical compounds, the healthcare giant should have a much rejuvenated approved portfolio within a few years. As it earns clinical wins, the stock could recover. The bottom line: Pfizer is still worth investing in.

PRINCETON, N.J.--(BUSINESS WIRE)---- $BMY #BMS--Bristol Myers Squibb Advances U.S. Manufacturing Investment with New $2.3 Billion Campus in Houston, Texas.

Bristol Myers Squibb (BMY - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

Therefore, the Zacks rating upgrade for Bristol Myers basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Bristol Myers imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Bristol MyersFor the fiscal year ending December 2026, this biopharmaceutical company is expected to earn $6.71 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Bristol Myers. Over the past three months, the Zacks Consensus Estimate for the company has increased 10.6%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

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The upgrade of Bristol Myers to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Have you been paying attention to shares of Bristol Myers Squibb (BMY - Free Report) ? Shares have been on the move with the stock up 15.5% over the past month. The stock hit a new 52-week high of $68.1 in the previous session. Bristol Myers has gained 21.4% since the start of the year compared to the -0.4% gain for the Zacks Medical sector and the 0.8% return for the Zacks Medical - Biomedical and Genetics industry.

What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on July 30, 2026, Bristol Myers reported EPS of $2.04 versus consensus estimate of $1.59 while it beat the consensus revenue estimate by 11.15%.

For the current fiscal year, Bristol Myers is expected to post earnings of $6.62 per share on $49.97 in revenues. This represents a 7.64% change in EPS on a 3.69% change in revenues. For the next fiscal year, the company is expected to earn $6.35 per share on $47.05 in revenues. This represents a year-over-year change of -4.01% and -5.85%, respectively.

Valuation MetricsWhile Bristol Myers has moved to its 52-week high over the past few weeks, investors need to be asking, what is next for the company? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.

On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.

Bristol Myers has a Value Score of A. The stock's Growth and Momentum Scores are C and A, respectively, giving the company a VGM Score of A.

In terms of its value breakdown, the stock currently trades at 9.9X current fiscal year EPS estimates, which is not in-line with the peer industry average of 21.3X. On a trailing cash flow basis, the stock currently trades at 8.1X versus its peer group's average of 13X. Additionally, the stock has a PEG ratio of 0.18. This is good enough to put the company in the top echelon of all stocks we cover from a value perspective, making Bristol Myers an interesting choice for value investors.

Zacks RankWe also need to consider the stock's Zacks Rank, as this is even more important than the company's VGM Score. Fortunately, Bristol Myers currently has a Zacks Rank of #2 (Buy) thanks to a solid earnings estimate revision trend.

Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Bristol Myers fits the bill. Thus, it seems as though Bristol Myers shares could still be poised for more gains ahead.