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Bristol-Myers Squibb Company ($BMY) Stock Forecast: Up 6.5% Today

Morpher AI identified a bullish signal. The stock price may continue to rise based on the momentum of the good news.

What is Bristol-Myers Squibb Company?

Bristol-Myers Squibb (BMY) is a pharmaceutical company with a reputation for innovative medicines across various therapeutic areas. It had a strong bullish movement in the stock market amid recent market fluctuations.

Why is Bristol-Myers Squibb Company going up?

BMY stock is up 6.5% on Jul 17, 2024 14:13

  • Despite facing challenges and a year-to-date loss of 20.5%, Bristol-Myers Squibb saw a significant bullish surge today.
  • Unusual options activity, including both bullish and bearish trades, suggests mixed investor sentiments.
  • The decision of an individual to sell Bristol Myers and purchase more Abbvie could have influenced market perception and spurred increased buying interest in BMY shares.
  • Overall, the uptick in bullish momentum could be attributed to a mix of strategic trading decisions, market dynamics, and potential positive developments in the company.

BMY Price Chart

BMY News

Trade Tracker: Rob Sechan sells Bristol Myers and buys more Abbvie

Rob Sechan, CEO of NewEdge Wealth, joins CNBC''s "Halftime Report" to discuss his latest moves. The Committee discuss the Healthcare sector.

https://www.cnbc.com/video/2024/07/16/trade-tracker-rob-sechan-sells-bristol-myers-and-buys-more-abbvie.html

News Article Image Trade Tracker: Rob Sechan sells Bristol Myers and buys more Abbvie

Bristol-Myers Squibb Unusual Options Activity For July 15

Financial giants have made a conspicuous bearish move on Bristol-Myers Squibb. Our analysis of options history for Bristol-Myers Squibb (NYSE: BMY ) revealed 10 unusual trades. Delving into the details, we found 30% of traders were bullish, while 70% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $136,531, and 7 were calls, valued at $647,002. Predicted Price Range Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $50.0 for Bristol-Myers Squibb during the past quarter. Analyzing Volume & Open Interest Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Bristol-Myers Squibb''s options at specified strike prices. The … Full story available on Benzinga.com

https://www.benzinga.com/insights/options/24/07/39779609/bristol-myers-squibb-unusual-options-activity-for-july-15

News Article Image Bristol-Myers Squibb Unusual Options Activity For July 15

Bristol Myers ( BMY ) Loses 20.5% YTD: Should You Retain or Fold?

Bristol Myers (BMY) faces an uphill struggle as top drugs face challenges. We advise investors to steer clear for the time being.

https://www.zacks.com/stock/news/2301114/bristol-myers-bmy-loses-205-ytd-should-you-retain-or-fold

News Article Image Bristol Myers  ( BMY )  Loses 20.5% YTD: Should You Retain or Fold?

Bristol Myers Squibb Suffers a Larger Drop Than the General Market: Key Insights - Bristol-Myers Squibb ( NYSE:BMY )

Bristol Myers Squibb BMY closed the latest trading day at $40.75, indicating a -0.9% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of ...

https://www.benzinga.com/general/biotech/24/07/39741340/bristol-myers-squibb-suffers-a-larger-drop-than-the-general-market-key-insights

News Article Image Bristol Myers Squibb Suffers a Larger Drop Than the General Market: Key Insights - Bristol-Myers Squibb  ( NYSE:BMY )

Bristol Myers Squibb ( BMY ) Suffers a Larger Drop Than the General Market: Key Insights

In the closing of the recent trading day, Bristol Myers Squibb (BMY) stood at $40.75, denoting a -0.9% change from the preceding trading day.

https://www.zacks.com/stock/news/2300330/bristol-myers-squibb-bmy-suffers-a-larger-drop-than-the-general-market-key-insights

News Article Image Bristol Myers Squibb  ( BMY )  Suffers a Larger Drop Than the General Market: Key Insights

Bristol-Myers Squibb Company Price History

17.06.2024 - BMY Stock was up 6.5%

  • Despite facing challenges and a year-to-date loss of 20.5%, Bristol-Myers Squibb saw a significant bullish surge today.
  • Unusual options activity, including both bullish and bearish trades, suggests mixed investor sentiments.
  • The decision of an individual to sell Bristol Myers and purchase more Abbvie could have influenced market perception and spurred increased buying interest in BMY shares.
  • Overall, the uptick in bullish momentum could be attributed to a mix of strategic trading decisions, market dynamics, and potential positive developments in the company.

17.06.2024 - BMY Stock was up 5.8%

  • The bullish movement in BMY could be attributed to the overall positive sentiment in the biotech sector, discussing the potential for high returns in low-cap biotech stocks. Investors may be optimistic about Bristol Myers Squibb's pipeline and potential for successful clinical trials.
  • Mentioning undervalued stocks ready for a breakout could have also influenced the market movement as investors seek out companies with strong fundamentals like Bristol Myers Squibb that may be poised for a comeback.
  • The anticipation of positive news related to Bristol Myers Squibb's drug developments or potential buyout opportunities could have further fueled the bullish movement in the stock.

26.03.2024 - BMY Stock was down 5.4%

  • BMY stock experienced a bearish trend influenced by several factors:
  • The company revealed a narrower-than-expected loss in Q1; however, decreasing sales of key products like Opdivo and Revlimid led to a negative impact on investor sentiment.
  • Despite a favorable opinion from the CHMP for Opdivo in combination with cisplatin and gemcitabine for urothelial carcinoma, market response might have been influenced by broader industry trends and the company's reduced stock target.
  • The overall market sentiment was bearish today, with major US indices closing lower for the first time in three days, driven by concerns over inflation and company performance, including Bristol Myers Squibb's disappointing earnings.

26.03.2024 - BMY Stock was down 5.4%

  • Bristol-Myers Squibb recorded a loss per share in Q1 that was narrower than anticipated, but this outcome was influenced by increased expenses linked to recent acquisitions and rising operational costs.
  • The company exceeded revenue projections due to strong sales of specific drugs, yet a decrease in the sales of key products such as Opdivo and Revlimid dampened investor confidence.
  • Analysts reduced the target price for the company, and the downward adjustment of Bristol-Myers Squibb's 2024 adjusted EPS guidance contributed to the negative outlook on the stock.
  • The stock's decline was likely influenced by the general market downturn, especially in the healthcare sector, and concerns over inflation as highlighted in the US GDP report.

25.03.2024 - BMY Stock was down 5.4%

  • Bristol-Myers stock target was cut to $64 from $68 with a Buy rating maintained, indicating a lack of confidence in the company's future performance.
  • The company reported gloomy Q1 earnings, resulting in a justified sell-off as it swung to a loss and revised its 2024 adjusted EPS guidance significantly downwards.
  • Massive job cuts at Bristol-Myers Squibb contributed to the stock's decline, despite the common notion that layoffs can boost a company's stock value.
  • The broader US indices closed lower today, with negative market sentiment driven by Meta Platforms' higher expenses, stronger-than-expected inflation in the US GDP report, and disappointing earnings reports from companies like Caterpillar and Southwest Airlines, further impacting BMY's downward movement.

25.03.2024 - BMY Stock was down 5.4%

  • Bristol Myers Squibb shares dropped over 8% due to a reported loss in the first quarter, despite exceeding revenue expectations. The adjusted EPS loss and revised 2024 guidance influenced the negative market sentiment.
  • The company's announcement of substantial job cuts added to the stock's downward pressure, suggesting potential difficulties ahead.
  • Investors reacted unfavorably to the updated guidance, reflecting worries about the company's future performance and strategic decisions.
  • The overall bearish market sentiment, combined with specific internal factors, caused a sharp decline in Bristol Myers Squibb's stock price today.

25.03.2024 - BMY Stock was down 8.8%

  • Bristol-Myers Squibb stock dropped following significant job cuts, which typically lead to a rise in stock value.
  • Despite strong first-quarter revenues, the stock traded lower, potentially due to investor response to the company's updated guidance falling short of expectations.
  • The positive Q1 2024 earnings report, surpassing both EPS and revenue estimates, was overshadowed by other factors impacting the stock price.
  • Market sentiment towards Bristol-Myers Squibb was influenced by a mix of layoffs, guidance updates, and broader industry trends affecting pharmaceutical companies.

25.03.2024 - BMY Stock was down 8.3%

  • Bristol-Myers Squibb (BMY) surpassed analyst estimates in its Q1 2024 earnings, with earnings per share and revenue exceeding expectations.
  • Despite the strong earnings report, Bristol-Myers Squibb (BMY) revealed plans to reduce 2,200 jobs as part of a $1.5 billion cost-saving initiative, leading to investor concerns about future growth.
  • The bearish trend in BMY's stock could be due to profit-taking post-earnings and uncertainties surrounding the announced job cuts and cost-saving efforts.
  • Market sentiment might have soured due to limited details in the earnings call transcript, leaving investors with uncertainties about the company's future trajectory.

25.03.2024 - BMY Stock was down 7.1%

  • Bristol Myers Squibb (BMY) reported a quarterly loss despite a 5% increase in revenues, which may have disappointed investors.
  • The company laid out a $1.5 billion cost-saving plan, indicating potential concerns about future profitability.
  • Despite posting a beat in Q1 earnings, Bristol-Myers faced growth headwinds, which likely contributed to the bearish market movement.
  • The significant decrease in earnings compared to the same period last year may have raised investor apprehensions, leading to the stock's downward trend.

25.03.2024 - BMY Stock was down 6.8%

  • Bristol-Myers Squibb (BMY) disclosed Q1 earnings that fell significantly below expectations, reporting a loss of $11.91 billion, contrasting with $2.26 billion in the same period last year. This financial outcome likely influenced the bearish market trend.
  • Despite the general market exhibiting positive signs, with the S&P and NASDAQ indices closing higher for the third consecutive day, BMY's disappointing earnings overshadowed the positive market sentiment.
  • Investor focus on upcoming major earnings announcements from various companies this week, which includes Bristol-Myers Squibb, may have heightened sensitivity towards BMY's poor performance, contributing to the stock's bearish movement.

14.02.2024 - BMY Stock was down 5.1%

  • The announcement of a merger with Karuna Therapeutics might have caused uncertainty among investors, leading to a sell-off of BMY shares.
  • Concerns about competition and market positioning in the oncology space were possibly sparked by the FDA's impending review of cell therapies for multiple myeloma involving Johnson & Johnson and Bristol-Myers.
  • The increase in bearish options activity on Bristol-Myers Squibb, with 75% of traders displaying bearish tendencies, likely contributed to the negative sentiment and subsequent bearish trend in the market.
  • The combination of these developments and investor sentiment towards Bristol-Myers Squibb likely influenced the stock's bearish movement today.

06.01.2024 - BMY Stock was up 2.1%

  • Keybanc raised the price target for Uber Technologies, which could have positively influenced market sentiment and indirectly impacted BMY.
  • Redburn cutting the price target for BMY might have initially caused some uncertainty, but it did not hinder the overall bullish movement.
  • The downgrade from StockNews.com could have been overshadowed by other positive factors, as the stock still maintained a buy rating.
  • The bullish options trading on BMY suggests that investors with significant capital have expressed confidence in the company's future prospects.

20.10.2023 - BMY Stock was down 1.5%

  • The bearish movement in BMY's stock today can be attributed to the following factors:
  • 1. FDA Delay: The FDA's announcement of a delay in the regulatory action date for a cancer treatment by Bristol Myers Squibb may have raised concerns among investors, leading to a sell-off in the stock.
  • 2. FDA Panel Meeting: The news of an upcoming FDA Oncologic Drugs Advisory Committee meeting to review data supporting a supplemental Biologi for Bristol Myers Squibb and 2seventy bio may have created uncertainty in the market, causing investors to take a cautious approach.
  • 3. Market Sentiment: Despite the positive overall market momentum, the bearish movement in BMY's stock suggests that investors may be reacting to the specific news related to the FDA delays and panel meeting, overshadowing the broader market trend.
  • 4. Industry Impact: The negative news surrounding Bristol Myers Squibb's cancer treatment may have also had a spillover effect on the broader pharmaceutical industry, impacting investor sentiment towards the sector as a whole.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.