Piper Sandler Cuts Bristol-Myers Squibb (BMY) Price Target to $78
Key Points
- Piper Sandler adjusted its price target for Bristol-Myers Squibb from $82 to $78, keeping an Overweight rating as of October 26, 2026.
- Piper Sandler's $78 price target implies 26.87% upside from Bristol-Myers Squibb Company's ($BMY) current $61.48 share price.
- As of October 26, 2026, Bristol-Myers Squibb traded at $61.48, about equal to its event close on October 23, 2026.
- The stock's recent performance shows it is below its 50-day moving average but above its 200-day moving average.
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On October 26, 2026, Piper Sandler lowered its price target on Bristol-Myers Squibb Company (BMY) to $78 from $82, while maintaining an Overweight rating. This change comes as the stock trades at $61.48, which is about equal to its closing price of $61.48 on October 23, 2026.
BMY
Bristol-Myers Squibb Company
Piper Sandler vs. the S&P 500
Hypothetical returns from Piper Sandler's disclosed trades, not real profit or advice. How we model this.
Piper Sandler's Call on Bristol-Myers Squibb
Piper Sandler's new price target of $78 represents a reduction from its previous target of $82. The firm continues to hold an Overweight rating, suggesting that it still views the stock positively despite the lower target.
Other Institutional Activity in Bristol-Myers Squibb
Recently, other institutional activities have shown mixed signals. Penn Davis Mcfarland sold out of its entire stake in Bristol-Myers Squibb, parting with 240,615 shares, while Beese Fulmer Investment Management trimmed its holdings by 9,793 shares. This indicates a notable shift in institutional sentiment around the stock.
Bristol-Myers Squibb Company Stock Down 2.4%
Bristol-Myers Squibb shares are currently trading at $61.48, which is below the 50-day moving average of $63.20 but above the 200-day moving average of $59.81. The stock is also 10.4% below its 52-week high of $68.64 and 44.6% above its 52-week low of $42.52. This positioning may influence investor sentiment following the price target adjustment.
$BMY price target
Bristol-Myers Squibb Company daily closes and this analyst's $78 target. Not advice.
Recent Earnings
Bristol-Myers Squibb reported trailing twelve-month revenue of approximately $49.2 billion and an EPS of $4.54. The next earnings report is scheduled for October 29, 2026, which could provide further insights into the company's performance and outlook.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
Analyst view held steady after the report.
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EPS & revenue
EPS beat estimates by 10.4%. Revenue beat estimates by 4.3%.
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Profit surprise
EBITDA missed by 13 percent. Operating income missed by 14 percent.
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Pre-earnings setup
Expectations were about average.
- Analyst signal
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Earnings quality
Gross margin up 4.7 points. Operating margin down 3.0 points. Positive free cash flow.
Earnings Call Summary
Bristol delivered a solid first quarter with revenue of 11.5 billion dollars, up 1 percent year over year, and earnings per share of 1.58 dollars, beating Wall Street by 10 percent. The growth portfolio grew 9 percent, led by strong performances from Eliquis at 4.1 billion dollars and Breyanzi up 53 percent. Management highlighted progress across pipeline programs including positive data for Pumitamig and upcoming late-year readouts for Factor XI inhibitor Milvexian and Cobenfy in Alzheimer's disease psychosis.
Guidance Bristol reaffirmed its 2026 financial targets and said the company is tracking toward the upper end of guidance. The management team noted strong momentum in the growth portfolio and multiple clinical readouts expected in the second half of the year, including Milvexian in atrial fibrillation and Cobenfy in Alzheimer's psychosis.
Underwhelming report. Mixed results that may lead to slightly lower expectations.
Insider Buying and Selling at Bristol-Myers Squibb Company
Insider trading activity shows that Chief Financial Officer David Vincent Elkins sold 30,000 shares on April 1, 2026, valued at about $1.85 million. Other officers also sold shares earlier this year, indicating some level of insider selling.
Analysts Set New Price Targets
On October 26, 2026, Piper Sandler maintained its Overweight rating for Bristol-Myers Squibb while lowering its price target to $78 from $82. The consensus among analysts suggests a mean target price of about $65.42, with 24 analysts contributing to this assessment.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is a global biopharmaceutical company based in Princeton, NJ. It focuses on discovering, developing, and selling products in various therapeutic areas, including oncology and immunology. The recent price target adjustment by Piper Sandler reflects ongoing evaluations of the company's performance and market conditions.
Bottom Line
Investors should keep an eye on the upcoming earnings report on October 29, 2026, as it may provide further clarity on Bristol-Myers Squibb's financial health and future prospects. The lowered price target by Piper Sandler adds to the evolving landscape of analyst ratings for the stock.
Related Filing Alerts
Source: Piper Sandler's rating change on $BMY (Oct 26, 2026). Written by software, not financial advice. How we make alerts