#6 - Bristol-Myers Squibb (NYSE:BMY)
The big news in the biopharmaceutical industry has come from weight-loss drug manufacturers such as Novo Nordisk A/S (NYSE: NVO) and Eli Lilly and Company (NYSE: LLY). However, with both stocks near 52-week highs, The Bristol-Myers Squibb Company (NYSE: BMY) is an attractive option.
The company is a leader in chimeric antigen receptor (CAR) T cell therapy and is the only company with two approved CAR T treatments for two distinct targets. And the company is just getting started. On April 22, 2024, Bristol-Myers announced a $380 million worldwide capacity reservation and supply agreement to manufacture CAR T cell therapies. The partnership aims to bring the promise of cell therapy to more patients faster.
BMY stock is down about 30% in the last 12 months despite YOY earnings growth. That's a discrepancy that you can use to your advantage. Plus, the company pays a reliable dividend with a 4.85% yield and is part of the Dividend Achievers club, which includes companies that have increased its dividend for at least 10 consecutive years.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
Read More - Current Price
- $58.49
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 13 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $54.07 (7.6% Downside)
