Core Viewpoint - It has been one year since the last coverage of Bristol-Myers Squibb (BMY), with the stock rated as a Hold following Q4 2024 earnings, which caused concern among investors due to declining projections for 2025 [1] Group 1 - The article highlights the author's background, including a Ph.D. in organic synthesis from Stanford University and experience in major pharmaceutical companies and biotech startups [1] - The author is a co-founder of 1200 Pharma, which successfully garnered significant investment [1] - The author remains focused on market trends, particularly in biotechnology stocks [1]

Core Viewpoint - Morgan Stanley maintains an "Underweight" rating for Bristol-Myers Squibb, advising investors to hold the stock, which is priced around $61.46 [1][6] Company Strategy - Bristol-Myers Squibb's "focused execution" strategy in 2025 has positively influenced its outlook for 2026, emphasizing newer brands and late-stage pipeline catalysts while managing costs to counteract loss-of-exclusivity challenges [2] Financial Performance - In Q4 2025, Bristol-Myers Squibb reported a strong performance with a growth portfolio increase of 15% year-over-year, which nearly offset a $4 billion revenue decline from its legacy portfolio [3][6] - The total revenue for Q4 remained stable at approximately $12.5 billion, with a stock price increase of 3.44% to $61.57 [4][6] Market Data - The stock has fluctuated between $59.77 and $61.86, with a market capitalization of about $125.34 billion, and has seen a 52-week high of $63.33 and a low of $42.52 [4][5] - Trading volume stands at 5.4 million shares, indicating active market participation despite the "Underweight" rating [5]

Core Insights - The company reported flat total revenue of approximately $12.5 billion for Q4 year-over-year, with a growth portfolio revenue increase of 15% to $7.4 billion, representing nearly 60% of total revenue in the quarter [1][5] - The CEO highlighted strong fourth-quarter performance, with the growth portfolio up 15% year-over-year in Q4 and 17% for the full year, nearly offsetting a $4 billion decline in revenue from the legacy portfolio [2][5] - The company anticipates a "data-rich" 2026, expecting top-line registrational readouts for six potential new products and multiple pivotal oncology readouts [3][9] Financial Performance - The company guided for 2026 revenue of $46.0–$47.5 billion and non-GAAP EPS of $6.05–$6.35, forecasting a 12–16% decline in the legacy portfolio due to loss-of-exclusivity [4][13] - Eliquis is expected to grow 10–15% in 2026, but sales are projected to decline by approximately $1.5–$2 billion in 2027 [4][16] - The company ended 2025 with around $11 billion in cash and equivalents, having completed a $10 billion debt paydown ahead of schedule [17] Product Performance - Key products in the growth portfolio include Reblozyl, which exceeded $2 billion, and Opdualag, Breyanzi, and Camzyos, each surpassing $1 billion in 2025 [5] - Opdivo revenue rose 7% in Q4 to nearly $2.7 billion, driven by new indications and market share gains [6] - Breyanzi's Q4 revenue increased by 47%, supported by demand across approved indications, and it received FDA approval for additional cancer types [7] Pipeline and Future Outlook - The company expects significant pipeline activity in 2026, with potential new products including milvexian and admilparant, and anticipates pivotal readouts for Sotyktu and Cobenfy [9][10] - Management is focused on a $2 billion productivity program, having achieved about $1 billion in savings in 2025, with plans to realize the remaining savings in 2026 and 2027 [3][15] - The company is preparing for eight registrational studies expected to commence by year-end, including studies in non-small cell lung cancer [12]

Core Viewpoint - Bristol Myers Squibb is focused on strengthening its position in the biopharmaceutical industry through a robust pipeline of late-stage assets and ongoing investments in innovation and shareholder returns [2][3][6]. Group 1: Company Performance and Pipeline - The company has a strong portfolio of early-stage assets that are showing growth potential, with significant opportunities for expansion [2][3]. - Bristol Myers Squibb is anticipating data readouts for six new products this year and has the potential for 11 phase three trials, indicating a rich pipeline for future growth [4][6]. - The company aims to introduce up to 10 new products and over 30 life cycle management opportunities by the end of the decade [4]. Group 2: Financial Outlook - Bristol Myers Squibb is financially strong, allowing for continued investment in business growth and capital returns to shareholders [3][6]. - The company is focused on delivering results from its late-stage assets, which represent the richest pipeline seen in recent years [5][6]. Group 3: Market and Competitive Landscape - The company is aware of competitive threats, particularly from China, which is heavily investing in biopharmaceuticals and aims to replicate the U.S. ecosystem [15][16]. - Bristol Myers Squibb emphasizes the importance of maintaining a strong innovation ecosystem in the U.S. to ensure patient access and affordability [13][16]. Group 4: Role of AI in Drug Development - AI is expected to transform the biopharmaceutical value chain, from basic research to commercialization, with goals to reduce drug development cycle times by 30% [17][18]. - The company utilizes AI models to predict the probability of success for research programs before they enter clinical development [18].

Bristol Myers Squibb (NYSE: BMY) stock was a rare bright light on a very dim Thursday for American equities. Encouraged by the company's good quarterly and annual earnings release, market players pushed the stock up by more than 3% on a day when the S&P 500 index slumped by more than 1%. Newer products carried the day Bristol Myers' fourth quarter of 2025 saw the veteran pharmaceutical company grow revenue by 1% year over year to $12.5 billion. Much of this was attributable to its so-called "growth portfo ...

Core Viewpoint - Bristol Myers Squibb reported strong fourth quarter results and issued a 2026 forecast that exceeded Wall Street expectations, indicating potential for continued stock momentum in current market conditions [1] Financial Performance - Fourth quarter revenue increased by 1% to $12.5 billion, surpassing the expected $12.28 billion [1] - Earnings per share (EPS) fell 25% year over year to $1.26 but exceeded estimates of $1.12 [1] - Bristol Myers' shares rose over 1.5% despite a down day for the S&P 500, reflecting the stock's defensive nature [1] Product Performance - The new schizophrenia treatment Cobenfy has significant sales potential, although it is still in early stages [1] - Sales of the blood thinner Eliquis, the company's largest drug, increased by 8% annually, despite falling short of expectations [1] - Bristol Myers expects Eliquis sales to grow by 10% to 15% for the full year, contrary to analyst expectations of a 15% decline in 2026 [1] Cost Management - The company achieved a half percentage point of adjusted operating margin expansion due to cost-cutting efforts, with both research-and-development costs and overhead expenses declining year over year [1] - Bristol is on track to deliver approximately $1 billion in cost savings in 2025 and another $1 billion over the next two years [1] Future Outlook - Bristol Myers provided 2026 revenue guidance of $46 billion to $47.5 billion, better than the $44.16 billion expected [1] - Gross margin is projected to be 69% to 70%, below the FactSet consensus of 72.3% [1] - Adjusted earnings are expected to be between $6.05 and $6.35 per share, exceeding the $6.02 expected [1] - The company anticipates a busy year of trial readouts, with over 10 late-stage study updates expected, which could bolster investor confidence [1]

U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 400 points on Thursday.The Dow traded down 0.86% to 49,073.13 while the NASDAQ dipped 1.03% to 22,669.07. The S&P 500 also fell, dropping, 0.91% to 6,820.34.Check This Out: How To Earn $500 A Month From Goldman Sachs Stock Ahead Of Q4 EarningsLeading and Lagging SectorsReal estate shares gained by 0.1% on Thursday.In trading on Thursday, materials stocks fell by 2.2%.Top HeadlineBristol Myers Squibb & Co. (NYSE:BMY) ...

Company Performance - Bristol Myers Squibb & Co. reported fourth-quarter 2025 revenues of $12.50 billion, exceeding the consensus estimate of $12.281 billion, representing a 1% year-over-year increase [2] - The company reported adjusted earnings of $1.26, surpassing the consensus of $1.11, although this reflects a 25% decline due to the impacts of acquired IPRD charges and licensing income [2] Market Trends - U.S. stocks experienced a decline, with the Dow Jones index falling more than 400 points, down 0.86% to 49,073.13, while the NASDAQ dipped 1.03% to 22,669.07, and the S&P 500 dropped 0.91% to 6,820.34 [1] - In commodity markets, oil prices decreased by 2.5% to $63.51, gold fell by 0.9% to $4,907.60, silver dropped 9.4% to $76.455, and copper declined 0.5% to $5.8210 [3]

Core Insights - Bristol Myers Squibb (BMY) stock experienced a moderate rise following the announcement of adjusted earnings of $1.26 per share, surpassing analyst expectations of $1.23 per share [1] - The company reported fourth-quarter sales of $12.5 billion, exceeding the anticipated $12.28 billion [1] - In comparison to the previous year, Bristol Myers earned $1.67 per share on $12.34 billion in sales during the same period [1] Financial Performance - Adjusted earnings per share: $1.26, compared to analyst expectations of $1.23 [1] - Fourth-quarter sales: $12.5 billion, exceeding the forecast of $12.28 billion [1] - Year-over-year comparison: Previous year earnings were $1.67 per share on $12.34 billion in sales [1]

Core Insights - Bristol-Myers Squibb Company (BMY) reported fourth-quarter 2025 adjusted earnings per share (EPS) of $1.26, exceeding the Zacks Consensus Estimate of $1.15, but down from $1.67 in the same quarter last year [1] - Total revenues reached $12.5 billion, surpassing the Zacks Consensus Estimate of $12.25 billion, and reflecting a 1% increase from the previous year [1] - The stock price increased following the better-than-expected quarterly results [1] Financial Performance - BMY's shares have increased by 28.5% over the past six months, while the industry has grown by 43.8% [2] - U.S. revenues remained flat year over year at $8.56 billion, while international revenues rose by 5% to $3.94 billion [3] - The Growth Portfolio revenues increased by 16% to $7.39 billion, primarily driven by immuno-oncology drugs like Opdivo [6][7] - The Legacy Portfolio revenues decreased by 15% to $5.11 billion, impacted by generic competition on key drugs, despite an 8% increase in Eliquis sales to $3.45 billion [11] Key Drug Performance - Opdivo sales increased by 9% year over year to $2.69 billion, surpassing estimates [8] - Yervoy contributed $810 million, up 20% year over year, and Reblozyl sales surged 22% to $666 million [9] - Breyanzi sales rose by 49% to $392 million, while Camzyos sales skyrocketed by 59% to $353 million [10] Cost and Margin Analysis - Adjusted gross margin decreased to 71.9% from 74% in the previous year due to a change in product mix [14] - Adjusted research and development expenses declined by 8% to $2.56 billion, and adjusted marketing, selling, and administrative expenses decreased by 1% to $2.09 billion [15] Future Guidance - For 2026, BMY provided revenue guidance of $46-$47.5 billion, supported by the Growth Portfolio's strong performance [17] - The company expects adjusted earnings to be in the range of $6.05-$6.35 for the full year, with the Zacks Consensus Estimate for 2026 EPS at $6.08 [17] Pipeline Updates - In December 2025, the FDA approved Breyanzi for adult patients with relapsed or refractory marginal zone lymphoma [18] - A supplemental biologics license application for Opdivo in combination with other drugs for Hodgkin lymphoma is under priority review, with a decision expected by April 8, 2026 [19]