Bristol-Myers Squibb (BMY) has faced a turbulent period that included a
stock drop of 7.2%, despite
beating Q4 earnings and revenue estimates. The company has announced plans to implement
$2 billion in cost cuts by 2027, a strategy that has been received with mixed responses, contributing to an overall weak outlook. Nevertheless, BMY continues to attract investment, as displayed by various shareholders increasing their stakes, such as Covenant Asset Management LLC and Fullerton & Co. Investments by Bank Pictet & Cie Europe also continue, despite BMY's poor full-year sales guidance. BMY's product,
COBENFY, a first-in-class Muscarinic Agonist for the treatment of Schizophrenia in adults, has been approved by the
U.S. Food and Drug Administration (FDA). Furthermore, the company announced near-term impact due to generics on the 2025 sales' forecast, but its employees have relayed 3,000 miles cross-country, aspiring to raise over $1 million for cancer research. Lastly, despite various entities reducing their BMY stock holdings, Jim Cramer views BMY as a valuable stock due to its yield.
Bristol-Myers Squibb BMY News Analytics from Mon, 06 May 2024 07:00:00 GMT to Sat, 15 Feb 2025 12:39:26 GMT -
Rating -4
- Innovation -2
- Information 6
- Rumor -3
