They're down, but they aren't out, at least not in the eyes of patient investors.
Leerink Partners has upgraded Bristol-Myers Squibb & Co BMY, stating that the company enters a catalyst-rich period in 2025-2027 beyond Cobenfy (a schizophrenia drug) and milvexian (anticoagulant).
Bristol Myers Squibb stock (NYSE: BMY) was up 10% on Monday, November 11, after its peer AbbVie (NYSE; ABBV) announced that two of its mid-stage clinical trials of its drug Emraclidine to treat schizophrenia failed to meet their primary goal. [1] Emraclidine was developed by Cerevel Therapeutics, which AbbVie acquired for around $9 billion earlier this year.
Bristol-Myers Squibb Company (NYSE:BMY ) Guggenheim Securities Inaugural Healthcare Innovation Conference November 11, 2024 10:00 AM ET Company Participants Samit Hirawat - EVP, Chief Medical Officer, Global Drug Development Robert Plenge - EVP, Chief Research Officer Conference Call Participants Seamus Fernandez - Guggenheim Seamus Fernandez Okay. So, in the interest of staying on time here, really pleased to have Bristol Myers Squibb joining us.
BMY has been having a good run for the past three months. The stock recently touched a 52-week high.
The biopharmaceutical sector showed signs of recovery in the third quarter of 2024, fueled by increased investor optimism following the U.S. Federal Reserve's interest rate cuts in September.
Bristol Myers Squibb (NYSE: BMY) recently reported its Q3 results, with revenues and earnings exceeding the street estimates. It reported revenue of $11.9 billion and adjusted earnings of $1.80 per share, compared to the consensus estimates of $11.3 billion and $1.49, respectively.
Zacks.com users have recently been watching Bristol Myers (BMY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
With many of the Magnificent 7 stocks reporting earnings the week of October 28, investors' attention was on technology stocks. But that means you may have overlooked two biopharmaceutical companies that delivered solid earnings reports.
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BMY posts impressive third-quarter results, with both earnings and sales beating the respective estimates. The company also raises its annual earnings guidance.