#8 - Bristol-Myers Squibb (NYSE:BMY)
The last stock to consider is Bristol-Myers Squibb (NYSE:BMY). It’s a bit confusing to see that shares of this drug maker are down over 10%. Bristol-Myers Squibb is the definition of a defensive stock. Individuals are going to get sick from things other than the coronavirus. And unfortunately, cancer and heart diseases are still among the top killers in our society.
But when it comes to oncology and cardiovascular drugs, few companies have a better pipeline than Bristol-Myers Squibb. The company recently completed the purchase of Celgene. This gives it access to the drug Revlimid which is one of the faster-growing, top-selling cancer drugs in the world.
Prior to the deal, Celgene had worked out a deal with generic providers that will keep generic equivalents to Revlimid off the market until at least 2026. With forecasts of up to $10 billion in annual sales, it’s hard not to like BMY stock.
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
- $58.87
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 14 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $54.07 (8.2% Downside)
These are confusing and scary times. But it’s important to keep a clear head. We’ve been here before. Maybe not exactly like this, but the market has faced disruptive events in the past. And when you remember that in every occasion the market has come back stronger than before, you have a playbook for dealing with the coronavirus pandemic.
And when this economy comes back, there will be a number of excellent stocks that you will wish you had snatched up at their current discounts of 10%, 20% or even more.
That’s why we’ve put together this presentation of eight stocks that you can count on during this crisis. But these are also long-term stocks that you can keep in your portfolio for the long haul. They have business models that work in any economy.
As you adjust to your current situation remember that one of the biggest myths in investing is “this time it’s different”. It’s not. The circumstances are unprecedented. But at some point, the American economy will come back. And when it does, you’ll want to make sure you are in the market to maximize your benefit. These eight stocks are a great place to start.
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