Bristol Myers Stock Surges 36.5% in Six Months: Time to Buy or Sell?

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The going has been pretty good for Bristol Myers BMY in the past six months. Shares of this biotech giant have rallied 36.4% in the said timeframe against the industry’s decline of 1.8%. The stock has...

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The stock has...</p>\n\n<a href=\"https://finance.yahoo.com/news/bristol-myers-stock-surges-36-181500392.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bristol Myers Stock Surges 36.5% in Six Months: Time to Buy or Sell?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBristol Myers Stock Surges 36.5% in Six Months: Time to Buy or Sell?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-11 02:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bristol-myers-stock-surges-36-181500392.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The going has been pretty good for Bristol Myers BMY in the past six months. Shares of this biotech giant have rallied 36.4% in the said timeframe against the industry’s decline of 1.8%. The stock has...</p>\n\n<a href=\"https://finance.yahoo.com/news/bristol-myers-stock-surges-36-181500392.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0306807586.USD","symbol_name":"SCHRODER ISF GLOBAL DIVIDEND MAXIMISER \"A\" (USD) INC QF","start_time":0,"source_url":"https://finance.yahoo.com/news/bristol-myers-stock-surges-36-181500392.html","article_id":"2490266240","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/SlGE5JR4xp73Vb5zTu29cQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/52b6d392b63705aefb517365eab38a95"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490266240","pubTimestamp":1733854500,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The going has been pretty good for Bristol Myers BMY in the past six months. Shares of this biotech giant have rallied 36.4% in the said timeframe against the industry’s decline of 1.8%. The stock has also outperformed the sector and the S&P 500 during this period.This stupendous rally after touching a 52-week low in July has enabled BMY to regain its lost territories and provided anxious investors with a ray of hope. The stock touched a 52-week high of $61.08 on Nov. 11.Strong quarterly performance, an increase in annual guidance and approval of new drugs have likely improved investors’ sentiment for BMY.Bristol Myers Outperforms Industry, Sector & S&P 500. The CHMP recommended the drug for the treatment of adult patients with ROS1 -positive advanced non-small cell lung cancer, adults and pediatric patients aged 12 years and older with advanced solid tumors expressing an NTRK gene fusion, and those who have received a prior NTRK inhibitor, or have not received a prior NTRK inhibitor a","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0306807586.USD":"SCHRODER ISF GLOBAL DIVIDEND MAXIMISER \"A\" (USD) INC QF","BK4599":"减肥药","SGXZ57979304.SGD":"United Global Healthcare A Acc SGD-H","BK4592":"伊斯兰概念","LU0889565916.HKD":"FRANKLIN BIOTECHNOLOGY DISCOVERY \"A\" (HKD) ACC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","BK4139":"生物科技","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","LU0237698245.USD":"富达环球地产基金A","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4578":"CAR-T","LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","BK4559":"巴菲特持仓","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","MYE":"Myers Industries Inc","LU0985481810.HKD":"SCHRODER ISF GLOBAL EQUITY YIELD \"A\" (HKD) INC M","GILD":"吉利德科学","BK4568":"美国抗疫概念","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","SG9999002224.SGD":"Allianz Global High Payout SGD","LU0306806265.USD":"SCHRODER ISF GLOBAL DIVIDEND MAXIMISER \"A\" ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","LU0058720904.USD":"联博国际健康护理基金A","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","LU1032466523.USD":"高盛全球多资产收益组合Acc","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","BK4581":"高盛持仓","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","IE0002141913.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (USD) ACC","BMY":"施贵宝","PFE":"辉瑞","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","SG9999001176.USD":"United Global Healthcare Acc USD","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","BK4532":"文艺复兴科技持仓"},"translate_title":"百时美施贵宝股价六个月内飙升36.5%：是时候买入还是卖出了？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PFE":1,"MYE":1,"GILD":1,"BMY":0.9},"content_text":"The going has been pretty good for Bristol Myers BMY in the past six months. Shares of this biotech giant have rallied 36.4% in the said timeframe against the industry’s decline of 1.8%. The stock has also outperformed the sector and the S&P 500 during this period.\nThis stupendous rally after touching a 52-week low in July has enabled BMY to regain its lost territories and provided anxious investors with a ray of hope. The stock touched a 52-week high of $61.08 on Nov. 11.\nStrong quarterly performance, an increase in annual guidance and approval of new drugs have likely improved investors’ sentiment for BMY.\nBristol Myers Outperforms Industry, Sector & S&P 500\nImage Source: Zacks Investment Research\nNewer Drugs Boost BMY’s Top Line\nNewer drugs like Reblozyl, Breyanzi, Camzyos and Opdualag have enabled BMY to stabilize its revenue base amid generic competition for its legacy drugs. Reblozyl has put up a stellar performance in the past few quarters, with strong growth in the United States and international markets. The drug should contribute significantly in the coming decade.\nThe sales of its oncology drug, Opdualag, have been robust, fueling the top line. Per BMY, the drug has already become a standard of care in first-line melanoma setting in the United States with a market share of 30%.\nSales of CAR T cell therapy, Breyanzi, also continue to gain traction from the approval of new indications and expanded manufacturing capacity.\nNew Drug Approvals, Regulatory Updates Boost BMY\nBMY recently won FDA approval for xanomeline and trospium chloride (formerly KarXT), an oral medication for the treatment of schizophrenia in adults. The drug was approved under the brand name Cobenfy, representing the first new pharmacological approach to treating schizophrenia in decades. The approval of Cobenfy for schizophrenia broadens BMY’s portfolio and validates the acquisition of Karuna Therapeutics.\nBMY had earlier acquired Mirati Therapeutics for $4.8 billion. The acquisition added Mirati’s lung cancer drug Krazati (adagrasib) to its oncology portfolio.\nThe acquisition of RayzeBio added its proprietary radiopharmaceutical platform, along with its innovative pipeline of potentially first-in-class and best-in-class actinium-based radiopharmaceutical therapeutics, to Bristol Myers’ oncology portfolio. \nThe Committee for Medicinal Products for Human Use (“CHMP”) of the European Medicines Agency recently gave a positive opinion for repotrectinib, a next-generation tyrosine kinase inhibitor.\nThe CHMP recommended the drug for the treatment of adult patients with ROS1 -positive advanced non-small cell lung cancer, adults and pediatric patients aged 12 years and older with advanced solid tumors expressing an NTRK gene fusion, and those who have received a prior NTRK inhibitor, or have not received a prior NTRK inhibitor and treatment options not targeting NTRK provide limited clinical benefit, or have been exhausted. A decision is expected in January 2025.\nChallenges for Older BMY Drugs\nWhile the newer drugs drive growth, one of BMY’s top drugs, Revlimid (indicated for multiple myeloma), faces generic competition, adversely impacting its top line. \nWhile Revlimid sales continue to decline, the drug managed to beat estimates in the third quarter and provided an upside to the top line.\nBlood thinner medicine Eliquis, for which BMY has a worldwide co-development and co-commercialization agreement with pharma giant Pfizer PFE, is the biggest contributor to the top line. An upside in Eliquis sales in the third quarter helped BMY beat on revenues in the quarter.\nOpdivo has maintained momentum for the company on continued label expansions. Last month, the CHMP recommended approval of Opdivo  (nivolumab) plus Yervoy  (ipilimumab) for the first-line treatment of adult patients with microsatellite instability-high or mismatch repair deficient unresectable or metastatic colorectal cancer.\nHowever, Eliquis is slated to face generic competition later in the decade, and Opdivo might face a slowdown as core indications mature.\nThese three drugs comprise a major chunk of the company’s revenues. Meanwhile, the leukemia drug Sprycel is also facing generics in the United States, adversely impacting its sales. Pomalyst is facing generics in Europe.\nCost-Cutting Measures Should Boost Earnings\nIn April 2024, BMY announced a strategic cost-reduction plan that should result in approximately $1.5 billion savings by the end of 2025. The company will prioritize investing in candidates that will deliver the best long-term returns and optimize operations across the organization.\nBMY’s High Debt Ratio Worrisome\nWhile BMY’s strategy of acquiring companies like Gilead Sciences GILD with promising drugs/candidates is encouraging, it has resulted in colossal debt to finance these acquisitions.\nAs of Sept. 30, 2024, Bristol Myers’ total debt-to-total capital ratio was a staggering 74.3%. This is worrisome. The company had cash and equivalents of $7.9 billion and a long-term debt of $48.7 billion as of the aforementioned date.\nBMY's Valuation\nGoing by the price/earnings ratio, BMY’s shares currently trade at 8.63x forward earnings, lower than its mean of 8.65x and 17.05x for the large-cap pharma industry.\nImage Source: Zacks Investment Research\nEstimate Movement\nOver the past 60 days, the Zacks Consensus Estimate for 2024 earnings per share (EPS) has increased to $0.91 from $0.76. EPS estimate for 2025 has also gained 13 cents.\nIt’s worth noting that the annual earnings estimate has taken a massive hit due to acquisition-related expenses in 2024.\nImage Source: Zacks Investment Research\nConclusion\nLarge biotech companies are considered safe havens for investors interested in this sector. The recent rally raises hope of a turnaround for BMY. Newer drugs pave the way for growth and approval of additional new drugs should further bolster the portfolio.\nGiven the stock's current trading levels, it would be prudent for investors already owning the stock to stay invested. Any dip in the share price can be used as a buying opportunity, as BMY is a good stock to own in the long term, and we believe there is room for more growth.\nBMY has also been consistently paying out dividends. The current yield of 4.04% is quite attractive.\nBristol Myers currently carries a Zacks Rank #2 (Buy).  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBristol Myers Squibb Company (BMY) : Free Stock Analysis Report\nPfizer Inc. (PFE) : Free Stock Analysis Report\nGilead Sciences, Inc. (GILD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2490266240"}