Bristol-Myers Squibb (NYSE:BMY) PT Set at $62.00 by JPMorgan Chase & Co.

Bristol-Myers Squibb (NYSE:BMY) received a $62.00 price objective from research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 25.27% from the company’s previous close.

BMY has been the topic of several other research reports. Bank of America upped their price target on shares of Bristol-Myers Squibb from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Goldman Sachs Group began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, May 28th. They set a “buy” rating and a $54.00 price target on the stock. Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research report on Wednesday, August 14th. ValuEngine upgraded shares of Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research report on Monday, August 26th. Finally, UBS Group reduced their price target on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $55.74.

Shares of NYSE:BMY traded up $0.06 on Friday, hitting $49.50. The stock had a trading volume of 3,986,753 shares, compared to its average volume of 9,219,586. Bristol-Myers Squibb has a twelve month low of $42.48 and a twelve month high of $63.69. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. The firm’s 50 day moving average price is $47.00 and its 200-day moving average price is $47.13. The company has a market capitalization of $81.15 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 2.44 and a beta of 0.70.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 4.28 EPS for the current year.

In other Bristol-Myers Squibb news, Director Robert J. Bertolini bought 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the transaction, the director now owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in BMY. Private Ocean LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $28,000. James Investment Research Inc. increased its stake in shares of Bristol-Myers Squibb by 36.5% in the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 219 shares during the last quarter. Endurance Wealth Management Inc. increased its stake in shares of Bristol-Myers Squibb by 119.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 500 shares during the last quarter. SeaBridge Investment Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 47.4% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 933 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 300 shares during the last quarter. Finally, HMS Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $45,000. Institutional investors own 80.16% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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