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Bristol-Myers Squibb Company

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BMY trade ideas

Bristol Myers Stock ($BMY) Set for a Breakout on FDA ApprovalBristol Myers Squibb (NYSE: NYSE:BMY ) has taken a major leap forward in the pharmaceutical landscape with the recent FDA approval of its highly anticipated schizophrenia drug, Cobenfy. As the first novel treatment for schizophrenia in more than seven decades, Cobenfy brings hope to millions of patients while also potentially delivering significant growth for Bristol Myers. Beyond the groundbreaking nature of the drug, NYSE:BMY stock is seeing an exciting technical setup that suggests potential upside. Overview: On Thursday, the FDA approved Bristol Myers’ novel schizophrenia drug, Cobenfy, marking a major milestone for the treatment of this debilitating mental disorder. Schizophrenia, which affects nearly 3 million people in the U.S., has long been treated with antipsychotic drugs that come with severe side effects like weight gain and uncontrollable movements. What sets Cobenfy apart is that it does not directly block dopamine receptors in the brain, offering a new approach with potentially fewer side effects. The approval is also timely for Bristol Myers Squibb (NYSE: NYSE:BMY ), which faces upcoming patent expirations on several of its top-selling drugs. Cobenfy could become a long-term revenue generator, with analysts at Guggenheim projecting it to be a multi-billion-dollar opportunity. However, they also expect a slow rollout, meaning its impact on the company’s top line may not be felt until 2025. The drug will retail for $1,850 per month or $22,500 annually, before insurance. Given that 80% of schizophrenia patients are covered by Medicare or Medicaid, Bristol Myers Squibb plans to launch affordability programs to ease access to the drug. Cobenfy’s approval is a promising start, but the potential goes far beyond schizophrenia. Bristol Myers is already conducting late-stage clinical trials to test Cobenfy’s efficacy in treating Alzheimer’s disease, bipolar mania, and autism-related irritability. This could greatly expand its market potential, making it a game-changing drug in the years to come. Technical Analysis: From a technical standpoint, NYSE:BMY is poised for a breakout. As of Friday morning, the stock surged 5.3% to $52.78 in premarket trading following the FDA approval news, signaling strong market enthusiasm. Looking at the daily price chart, NYSE:BMY is forming a bullish symmetrical triangle pattern, which often precedes a breakout. The stock has been trading in a falling wedge pattern for several months, with Friday’s move pushing the price toward a key breakout point. This wedge pattern, combined with rising momentum, suggests that the stock could experience further upward
NYSE:BMYLong
by DEXWireNews
BMY - sideways to upward movement - yearly chartI was wrong on BMY before and I hope I'm not wrong again. On a yearly chart, we have all sorts of fun things going on. We had a double top in March followed by a downward trend after weak earnings. After the post earnings bleeding stopped, we get a triple bottom. Downward trend line was broken before earnings. In addition, before earnings, we had the stock go over the 20 and 50-day MA. Post earnings catapulted the stock to fill a gap and also gave us the bullish 20-day crossing above the 50-day. Lastly, BMY recently crossed the 200-day, then pulled back under it, but may have found support at this MA. If BMY can stay around this area, I think BMY can go sideways, or dare I say it, continue upward.
NYSE:BMY
by DrConservative
Highlights of $BMY's pipelineBetting that NYSE:BMY will consolidate after crossing $46 **Bristol Myers Squibb (BMS)** has been busy advancing their pipeline, and they've got some intriguing developments. Imagine a bunch of scientists in lab coats doing a happy dance—I'm pretty sure that's happening at BMS right now. Here's the scoop: 1. **Doubling Down on Registrational Assets**: BMS plans to **double the number of registrational assets** over the next 18 months—from six to a whopping twelve! These are the heavy hitters—the ones that are marching toward regulatory approval. 🚀 2. **Cell Therapy Magic**: Brace yourself for some alphabet soup: They've got a CD19-directed **NEX T cell therapy** (that's like the Avengers of immune cells) called BMS-986353. It's not just a mouthful; it's also expanding into clinical trials for immunologic diseases, including severe, refractory systemic lupus erythematosus. Say that three times fast! 🌪️ 3. **CAR T Awesomeness**: BMS is also cooking up a **potential first cell therapy** that targets GPRC5D. It goes by the snappy name **BMS-986393**. This little warrior is strapping on its armor and starting a registrational trial in relapsed/refractory multiple myeloma (RRMM). 🛡️ 4. **BCMA x CD3 Tango**: Picture this: a dance floor, disco lights, and two partners—the BCMA protein and the CD3 T-cell. They're doing the tango, and it's called **alnuctumab**. This dynamic duo is advancing into a Phase 3 trial for—you guessed it—RRMM. 💃🕺 5. **Protein Degradation Drama**: BMS is introducing a potential game-changer: **golcadomide**, a first-in-class protein degrader. It's like the Marie Kondo of cancer treatment—tidying up large B-cell lymphoma. This one's moving into a Phase 3 trial, and I bet it's sparking joy in the lab. 🌿 6. **Androgen Receptor De-grabber**: Okay, that's not the official name, but close! BMS has an androgen receptor degrader (fancy science-speak for "let's dismantle this thing") that's strutting into pivotal studies in metastatic castration-resistant prostate cancer. 🕶️ So, in a nutshell, BMS is jazzed about their pipeline. They're like the Elon Musk of drug development—bold, ambitious, and ready to change lives. 🌎💙 Is there anything else you'd like to know? Maybe a fun fact about lab rats or the secret handshake of pharmaceutical CEOs? 😉 Source: Conversation with Copilot, 7/24/2024 (1) Bristol Myers Squibb Highlights Advancing Pipeline and Differentiated .... news.bms.com (2) Bristol Myers Squibb Highlights Advancing Pipeline and Differentiated .... finance.yahoo.com (3) Bristol Myers Squibb Highlights Advancing Pipeline and Differentiated .... www.businesswire.com (4) Bristol Myers Squibb - Bristol Myers Squibb Reports Fourth Quarter and .... news.bms.com
NYSE:BMYLong
by KhanhC.Hoang
BMY- a large cap pharm loosing market cap SHORTBMY is here on the daily chart. The double top and death cross of the EMA moving averages makes for a strong candidate to short with shares or take put options. A comparsion of the most recent earnings report with the previous one sixty days earlier tells most of the story. The dual time frame RSI indicator shows ongoing wekaness. I will short BMY here and take some call options as well. I am in LLY long in a big position. This will be a race in opposite directions for two large cap pharmaceuticals.
NYSE:BMYShort
by AwesomeAvani
Bristol-Myers Squibb aims to navigate financial challengesBristol-Myers Squibb Co. has recently released its first-quarter report for 2024, facing significant financial hurdles due to a high debt load of USD 37bn. With the current high interest rates set by the Federal Reserve, this level of indebtedness could severely constrain the company's ability to grow and invest in new innovations. Adding to its challenges, Bristol-Myers Squibb is also nearing the expiration of patent protections for several of its key drugs, including Eliquis, Opdivo, and Revlimid. Despite these macroeconomic pressures, the company remains committed to its research and development endeavours, having secured FDA approval for multiple drugs over the past year. Bristol-Myers Squibb is optimistic about the future, projecting that its new products could generate annual revenues of up to 25 billion USD by 2029. Exploring potential investment opportunities, let’s review the technical analysis for Bristol-Myers Squibb Co. (NYSE: BMY): On the Daily (D1) timeframe, the stock shows resistance at 49.55 USD and support at 44.35 USD. Over the past year, the stock has declined by 36%, but there is a noticeable deceleration in the downtrend. A break above the resistance at 49.55 USD could signal a potential reversal of this trend. If the downward trend continues, the next target could be around 41.50 USD. For traders, surpassing the 49.55 USD resistance level presents a potential buying opportunity, with a short-term target of 54.60 USD. For those looking at a medium-term investment, maintaining a long position with a target of up to 63.60 USD may be advisable. — Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews. The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
NYSE:BMY
by RoboMarkets
Bristol Myers Posts Q1 Loss, Revenue Rises 5% Stock Dives 8.35%Bristol Myers Squibb (NYSE: NYSE:BMY ) finds itself at a crossroads as it grapples with disappointing quarterly results and the announcement of significant workforce reductions. The pharmaceutical giant reported a first-quarter loss driven by charges related to recent acquisitions, sending its stock tumbling by 8%. Quarterly Performance: Bristol Myers' first-quarter loss, attributed to charges associated with acquisitions including Karuna Therapeutics, RayzeBio, and Mirati Therapeutics, amounted to $4.40 per share. While analysts had anticipated a loss of $4.41 per share, the company's net loss reached $5.89 per share. Despite the loss, revenue rose by 5% to $11.87 billion, surpassing analyst estimates of $11.48 billion. Strategic Restructuring: In a bid to streamline operations and save costs, Bristol Myers ( NYSE:BMY ) announced plans to slash its workforce by 6%, affecting approximately 2,200 employees. The restructuring aims to generate $1.5 billion in savings by the end of next year. CEO Christopher Boerner emphasized the company's commitment to long-term growth despite near-term challenges posed by patent expirations and pricing pressures. Challenges and Opportunities: Bristol Myers ( NYSE:BMY ) faces headwinds from impending patent expirations for key drugs like Eliquis and Opdivo, compounded by pricing negotiations and generic competition. To offset these losses, the company has pursued strategic acquisitions to bolster its pipeline and expand its portfolio. However, disappointing sales of certain products, including Camzyos and Sotyktu, underscore the urgency of driving innovation and diversification. Financial Outlook: The company revised its adjusted profit forecast for 2024 dramatically, now expecting earnings between 40 cents and 70 cents per share compared to the previous guidance of $7.10 to $7.40 per share. Despite the downward revision, analysts remain optimistic about Bristol Myers' ability to rebound, with full-year earnings estimates hovering around 66 cents per share. Investor Response: The announcement of workforce reductions and the revised earnings forecast sent shockwaves through the market, causing Bristol Myers' shares to plummet by nearly 8%. The market capitalization took a hit, shedding approximately $7 billion as investors digested the implications of the company's restructuring efforts amidst challenging market conditions.
NYSE:BMY
by DEXWireNews
BMY value play breakoutBMY is one of my more recent value additions to the stock portfolio, I was able to snag this around the lows and the stock is breaking out today. Value will have its day and a few stocks are already moving. Once you obtain a certain net worth, safety becomes more important than just flat out growth and performance. -Short-term 55$ target remains -60.8$ is my target for the year -15-20% performance on a value play is substantial, and this does not include the dividend which will become attractive as yields being to drop
NYSE:BMYLong
by Apollo_21mil
BMY pushing into a sorta-kinda-almost gap. BullishI like NYSE:BMY here. I already own shares, but am adding a call spread. Obviously, I am chasing short-term a bit, which is not generally a good idea. In this case I am willing to take the risk because of the overhead gap in volume (it's not a true gap, of course), and the fact that the stock seems ready to break its long-term down trend. Fundamentally, I think the strength is supported by good earnings, low P/E, a rich dividend, and recent successes in drug trials. The reason for the longer-term weakness is the threat of blockbuster drugs losing their protection from generics, and increased leverage, due to the company buying out smaller biotechs to improve its drug pipeline. I added a March 24, 54/56 call spread, currently priced at 60¢.
NYSE:BMYLong
by matthias