BUZZ-Leerink downgrades Bristol-Myers Squibb rating, citing risks in the R&D pipeline
路透社2026/10/05 12:56October 5th - ** Bristol-Myers Squibb (BMY.N) shares fell 1.9% to $60 in pre-market trading ** ** Leerink Partners downgraded the pharmaceutical company's stock rating from “Outperform” to “Market Perform” and lowered its target price from $73 to $59 ** ** As of the previous trading session's close, BMY had risen 13.4% year to date; the new target price implies about 3.5% downside ** ** The brokerage highlighted uncertainty around three key projects for BMY and noted approaching patent expirations ** ** Leerink warned that the experimental pulmonary drug admilparant may disappoint in terms of efficacy and safety, citing possible liver issues and low blood pressure; it cut 2032 sales forecast by 38% ** ** They questioned whether experimental anticoagulant milvexian can rival Bristol-Myers Squibb’s Eliquis in preventing strokes in patients with atrial fibrillation, and lowered 2032 sales forecast by 25% ** ** Even if the antipsychotic drug Cobenfy is approved for treating Alzheimer’s-related psychosis, demand may still be limited by the availability of lower-priced generic antipsychotics ** ** EPS forecast for 2032 was cut by 11% to $4.96 (For non-native speakers’ convenience, Reuters automatically translates articles into multiple languages; Reuters makes no guarantee of accuracy due to possible automated translation errors or lack of context, and accepts no liability for any damages caused by use of the machine translation. The machine-translated text is provided solely for reader convenience.)
October 5 - ** Bristol Myers Squibb (BMY.N) shares fell 1.9% in pre-market trading, at $60
** Leerink Partners downgraded the pharmaceutical company's stock rating from "Outperform" to "Market Perform" and lowered the target price from $73 to $59
** As of the previous trading session's close, BMY had risen 13.4% so far this year; the new target price suggests the stock has about 3.5% downside potential
** The brokerage noted uncertainty in three of BMY's key projects, and the company is about to face patent expirations
** It said the experimental lung drug admilparant may disappoint in terms of efficacy and safety, including potentially causing liver issues and low blood pressure; 2032 sales forecast lowered by 38%
** Questioned whether the experimental anticoagulant milvexian can rival Bristol Myers Squibb's Eliquis in preventing strokes in patients with arrhythmia; 2032 sales forecast cut by 25%
** Pointed out that even if the antipsychotic drug Cobenfy is approved to treat Alzheimer’s-related psychosis, demand could remain limited due to lower-priced generic antipsychotics
** Lowered 2032 earnings per share (EPS) forecast by 11% to $4.96
(To assist non-native English speakers, Reuters has automated the translation of its report into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the automated translations, which are provided solely for readers' convenience. Reuters assumes no liability for any harm or loss caused by the use of the automated translation feature.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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