BUZZ-Street view: Analysts say milestones in Bristol Myers Squibb's R&D pipeline are key to its growth

October 30 - ** Bristol-Myers Squibb (BMY.N) raised its full-year revenue (link) forecast on Thursday, citing strong sales of its new drugs, but lowered its 2026 earnings per share projection due to costs related to a major acquisition.

** The average rating from 30 analysts on the stock is "Buy"; median target price is $64.5—data compiled by LSEG.

The catalyst is in the laboratory

** Truist Securities (rating: "Buy", target price: $70) pointed out that while the company faces short-term concerns such as the launch of its schizophrenia drug Cobenfy and mixed trial results for the immunology drug admilparant, imminent research progress could present significant growth opportunities.

** Jefferies (rating: "Buy", target price: $76) noted that key research updates on Cobenfy, anticoagulant milvexian, autoimmune disease drug Sotyktu, and cancer therapy CELMoDs are expected by early 2027, which could provide growth momentum for BMY.

** Morgan Stanley ("Underweight", target price: $40) said pipeline progress remains a core focus, with upcoming data on anticoagulant milvexian for treating atrial fibrillation (a type of arrhythmia) seen as the most important catalyst.

** TD Cowen (rating: "Hold", target price: $70) stated that patient uptake of Cobenfy has been slower, while data on admilparant for progressive pulmonary fibrosis (PPF) confirms its potential and is seen as a greater opportunity.

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