Bristol-Myers is a high-quality, low-beta dividend payer at 9.4x forward earnings, but the $62.48 price is already above the $58.77 analyst target and leverage and U.S. concentration cap the upside.
Thesis pillars
- High Quality High Returns↓Deteriorating
- Leverage And Us Concentration↓Deteriorating
- Price Above Analyst Target→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Nov 1, 2026, based on the 10-K filed Feb 11, 2026
Bristol-Myers Squibb Company (BMY) Stock Analysis
Breakout setup
Healthcare · Drug Manufacturers - General
Wait for pullback to $57.09. Price sits above the model's entry target of $57.09; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: United States (69.0%); Analyst target reached - limited upside remaining.
Bristol-Myers Squibb develops and markets oncology, hematology, immunology, and cardiovascular medicines in a single segment, generating $48.2 billion in total revenues in 2025, with 69% from the United States. The company sells principally to wholesalers, distributors, and... Read more
Wait for pullback to $57.09. Price sits above the model's entry target of $57.09; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: United States (69.0%); Analyst target reached - limited upside remaining. Chart setup: Golden cross, above all MAs, RSI 70, MACD bullish. Fundamentals strong but target reached (-6.8% upside). Wait for pullback. Score 5.8/10, moderate confidence.
Passes 6/7 gates (positive momentum, clean insider activity, no SEC red flags, earnings proximity 93d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: conservative.
About Bristol-Myers Squibb Company
About Bristol-Myers Squibb Company
Bristol-Myers Squibb generated $48.2 billion in total revenues in 2025, with Eliquis (apixaban)—the company's most prominent product—facing loss of U.S. market exclusivity in 2028 under patent settlements with generic manufacturers, while EU apixaban composition of matter patents and related SPCs expire in November 2026. The company reports in a single segment spanning oncology, hematology, immunology, and cardiovascular therapeutics, with 69% of revenues from the United States and 29% from international markets.
BMS markets biologics including Opdivo, Orencia, Yervoy, Reblozyl, and Opdualag; oral therapies including Eliquis, Revlimid, Pomalyst, Sotyktu, and Camzyos; and CAR-T therapies Breyanzi and Abecma, sold principally through wholesalers, distributors, specialty pharmacies, hospitals, clinics, and government agencies. As of January 31, 2026, U.S. generic lenalidomide licenses under Revlimid patent settlements are no longer volume-limited. Pomalyst faces U.S. generic entry in the first quarter of 2026, and the HHS set a maximum fair price for Pomalyst under the IRA effective January 1, 2027. Manufacturing operates in the U.S., Puerto Rico, the Netherlands, Ireland, and Switzerland, with CAR-T and radiopharmaceutical therapies presenting novel supply-chain challenges including reliance on third-party suppliers still in development. In October 2025, FDA issued draft guidance to streamline biosimilar development timelines, which could accelerate biosimilar competition for BMS biologics.
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BMS's exposure to IRA price-setting is already concrete: HHS announced a maximum fair price for Eliquis effective January 1, 2026 under Medicare, for Pomalyst effective January 1, 2027, and selected Orencia for negotiation beginning 2028. In December 2025, BMS separately signed a U.S. Government Agreement under which it agreed to provide Eliquis free to Medicaid beginning January 1, 2026, and to offer Sotyktu, Zeposia, Reyataz, Baraclude, and Orencia to cash-paying patients at approximately 80% off list prices, in exchange for tariff relief through January 2029. The company remains subject to pricing mandates outside the United States, and the IRA framework could expand to cover additional BMS products in future selection rounds.
See also: Healthcare · Drug Manufacturers - General
From Bristol-Myers Squibb Company's most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated Oct 30, 2026Recent Developments — Bristol-Myers Squibb Company
Latest news
- NEWS BofA raises Bristol-Myers Squibb stock price target to $67 - Investing.com — Investing.com Oct 30, 2026 positive
- NEWS BRISTOL-MYERS SQUIBB ($BMY) Releases Q3 2026 Earnings - Moomoo — Moomoo Oct 29, 2026 neutral
- NEWS What's Going On With Bristol-Myers Squibb Stock Thursday? - Bristol-Myers Squibb (NYSE:BMY) - Benzinga — Benzinga Oct 29, 2026 neutral
- NEWS Bristol Myers Squibb (BMY) Raises 2026 Revenue Outlook After Str - GuruFocus — GuruFocus Oct 29, 2026 positive
- NEWS Bristol-Myers Squibb Company 2026 Q3 - Results - Earnings Call Presentation (NYSE:BMY) 2026-10-29 - Seeking Alpha — Seeking Alpha Oct 29, 2026 neutral
Latest item Oct 30, 2026 · Generated 2026-11-03T11:44:02Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicUnited States69%10-K Item 1: 'United States| 69 | %...Total Revenues| $| 48,194'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers
Growth below the gate floor. Component breakdown shows what dragged the score down.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $57.09. Price sits above the model's entry target of $57.09; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: United States (69.0%); Analyst target reached - limited upside remaining. Chart setup: Golden cross, above all MAs, RSI 70, MACD bullish. Fundamentals strong but target reached (-6.8% upside). Wait for pullback. Analyst target $58.73 reached (−6.8%), stop $54.47 (−15.7%), A.R:R -0.6:1. Score 5.8/10, moderate confidence.
Analyst target $58.73 reached (−6.8% from $63.02); no take-profit level is published. Analyst target $58.73 reached (−6.8%), stop $54.47 (−15.7%), A.R:R -0.6:1. Stop-loss: $54.47.
Concentration risk — Geographic: United States (69.0%); Analyst target reached - limited upside remaining; Leverage penalty (D/E 1.9): -1.0.
Bristol-Myers Squibb Company trades at a P/E of 14.0 (forward 9.5). TrendMatrix value score: 6.6/10. Verdict: Buy (Wait for Entry).
34 analysts rate BMY, with a consensus score of 3.6/5. 24 analysts publish price targets averaging $65.
What does Bristol-Myers Squibb Company do?Bristol-Myers Squibb develops and markets oncology, hematology, immunology, and cardiovascular medicines in a single...
Bristol-Myers Squibb develops and markets oncology, hematology, immunology, and cardiovascular medicines in a single segment, generating $48.2 billion in total revenues in 2025, with 69% from the United States. The company sells principally to wholesalers, distributors, and specialty pharmacies globally, with key products including Eliquis, Opdivo, and Orencia facing patent cliffs and IRA-driven pricing pressures.