Analyst Consensus ?
ConsensusHold41 ratings
Bullish1946.3%
Neutral2048.8%
Bearish24.9%
1 unmapped firm rating excluded from the percentages.
Bristol-Myers Squibb Company · BMY · FY2026 Q1 · Calendar Q2 2026
Bristol-Myers Squibb Beats Q1 Estimates as Oncology Pipeline Accelerates
Bristol-Myers Squibb posted a convincing Q1 2026 beat, with EPS of $1.58 (vs. $1.42 consensus, +11.3%) and revenue of $11.5B (vs. $10.9B consensus, +5.1%). Growth was anchored by double-digit expansion in early-life-cycle oncology assets Breyanzi and Opdualag, while the pipeline delivered tangible milestones: FDA breakthrough therapy designation for iberdomide (PDUFA August 17), positive Phase III interim data for an ADC in triple-negative breast cancer, and advancing late-stage readouts for Milvexian and oral CELMoDs. Management reaffirmed full-year guidance at the upper end of the range, backed by AI-driven R&D cycle-time reductions and disciplined capital allocation. The stock gained 5.2% on the report but has since drifted roughly 5.6% lower, and at $63.60 trades nearly in line with the $63.25 consensus target, suggesting the market is waiting for pipeline catalysts to materialize…
Reported Before market openNYSEHealthcare
$127.75B market cap
90quality score
Company context
Snapshot as of publicationBristol-Myers Squibb Company operates as a global biopharmaceutical entity, actively involved in the research, development, licensing, production, and worldwide commercialization of its medicinal portfolio. The company's therapeutic areas span hematology, oncology, cardiovascular health, immunology, fibrotic conditions, neuroscience, and infectious diseases like COVID-19. Its significant pharmaceutical offerings include Revlimid, an oral immunomodulatory agent for multiple myeloma, and Eliquis, an oral anticoagulant crucial for reducing stroke risk and systemic embolism in non-valvular atrial fibrillation, as well as treating deep vein thrombosis and pulmonary embolism. The portfolio also features Opdivo, utilized across various anti-cancer indications; Pomalyst/Imnovid, prescribed for multiple myeloma patients; and Orencia, targeting active rheumatoid arthritis and psoriatic arthritis in adults.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.58
Consensus $1
EPS surprise
+11.3%
Reported versus consensus
Reported revenue
$11.49B
Consensus $10.93B
Revenue surprise
+5.1%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$63.64Current
$37Low
$64.19Average
$92High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 12, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| HSBC | Hold | Hold | Maintain | Sep 10, 2026 |
| Argus Research | Buy | Hold | Upgrade | Aug 5, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Aug 3, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 31, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jul 31, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 31, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 31, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jul 31, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Jul 31, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 10, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Feb 23, 2026 |
| Leerink Partners | Outperform | Outperform | Maintain | Jan 13, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Jan 9, 2026 |
| UBS | Buy | Neutral | Upgrade | Jan 7, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Dec 12, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Dec 2, 2025 |
| Jefferies | Buy | Buy | Maintain | Apr 23, 2025 |
| BMO Capital | Market Perform | Market Perform | Maintain | Nov 12, 2024 |
| TD Cowen | Hold | Hold | Maintain | Oct 7, 2024 |
| Barclays | Underweight | Underweight | Maintain | Oct 7, 2024 |
| Deutsche Bank | Hold | Hold | Maintain | Jul 23, 2024 |
| Redburn Atlantic | Neutral | Buy | Downgrade | Feb 6, 2024 |
| Daiwa Capital | Neutral | Outperform | Downgrade | Nov 2, 2023 |
| William Blair | Market Perform | Outperform | Downgrade | Oct 27, 2023 |
| Atlantic Equities | Overweight | Overweight | Maintain | Jul 28, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Apr 28, 2023 |
| Berenberg | Hold | Buy | Downgrade | Sep 14, 2022 |
| Raymond James | Market Perform | Outperform | Downgrade | Jun 6, 2022 |
| Mizuho | Buy | Buy | Maintain | Nov 17, 2020 |
| Societe Generale | Buy | Hold | Upgrade | Nov 16, 2020 |
| CFRA | Buy | Buy | Maintain | May 7, 2020 |
| Gabelli & Co. | Buy | Buy | Maintain | Nov 27, 2019 |
| Bank of America | Neutral | Neutral | Maintain | Oct 10, 2019 |
| Wolfe Research | Outperform | Outperform | Maintain | Oct 24, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| DZ Bank | Hold | Buy | Downgrade | Feb 28, 2018 |
| Leerink Swann | Outperform | Outperform | Maintain | Feb 6, 2018 |
| Hilliard Lyons | Neutral | Upgrade | Oct 28, 2016 | |
| PiperJaffray | Hold | Underperform | Upgrade | Aug 24, 2015 |
| Bernstein | Market Perform | Market Perform | Maintain | May 15, 2014 |
| Cowen & Co. | Outperform | Outperform | Maintain | May 14, 2014 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | May 29, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $63.64. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| HSBC | Analyst unavailable | $65 | $64.41 | +2.1% | Sep 10, 2026 |
| Roth Capital | Analyst unavailable | $75 | $63.47 | +17.9% | Aug 5, 2026 |
| Argus Research | Jasper Hellweg | $75 | $65.89 | +17.9% | Aug 5, 2026 |
| RBC Capital | Trung Huynh | $64 | $64.73 | +0.6% | Aug 4, 2026 |
| Cantor Fitzgerald | Carter Gould | $59 | $63.67 | -7.3% | Jul 31, 2026 |
| Guggenheim | Seamus Fernandez | $75 | $64.86 | +17.9% | Jul 31, 2026 |
| Wells Fargo | Analyst unavailable | $65 | $64.86 | +2.1% | Jul 31, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $54 | $59.2 | -15.1% | Apr 8, 2026 |
| UBS | Michael Yee | $70 | $59.78 | +10.0% | Mar 6, 2026 |
| RBC Capital | Trung Huynh | $60 | $61.6 | -5.7% | Feb 24, 2026 |
| Piper Sandler | Analyst unavailable | $75 | $60.66 | +17.9% | Feb 23, 2026 |
| Barclays | Analyst unavailable | $75 | $60.3 | +17.9% | Feb 19, 2026 |
| Morgan Stanley | Terence Flynn | $40 | $61.86 | -37.1% | Feb 6, 2026 |
| Guggenheim | Analyst unavailable | $72 | $59.52 | +13.1% | Feb 6, 2026 |
| Wells Fargo | Mohit Bansal | $60 | $59.52 | -5.7% | Feb 6, 2026 |
| Piper Sandler | Analyst unavailable | $66 | $55.56 | +3.7% | Jan 28, 2026 |
| Leerink Partners | David Risinger | $60 | $56.39 | -5.7% | Jan 13, 2026 |
| Scotiabank | Louise Chen | $60 | $55.86 | -5.7% | Jan 9, 2026 |
| UBS | Analyst unavailable | $65 | $56.42 | +2.1% | Jan 7, 2026 |
| Morgan Stanley | Analyst unavailable | $37 | $52.63 | -41.9% | Dec 12, 2025 |
| Guggenheim | Analyst unavailable | $62 | $51.2 | -2.6% | Dec 12, 2025 |
| HSBC | Analyst unavailable | $53 | $50.68 | -16.7% | Dec 10, 2025 |
| Scotiabank | Louis Chen | $53 | $50.96 | -16.7% | Dec 4, 2025 |
| Truist Financial | Srikripa Devarakonda | $65 | $50.98 | +2.1% | Dec 3, 2025 |
| Daiwa | Narumi Nakagiri | $42 | $45.85 | -34.0% | Aug 5, 2025 |
| Truist Financial | David Macdonald | $84 | $47.12 | +32.0% | Jul 21, 2025 |
| Jefferies | Akash Tewari | $68 | $48.52 | +6.9% | Apr 23, 2025 |
| Piper Sandler | David Amsellem | $65 | $49.82 | +2.1% | Apr 22, 2025 |
| BMO Capital | Evan Seigerman | $61 | $56.22 | -4.1% | Nov 12, 2024 |
| BMO Capital | Evan David Seigerman | $57 | $54.32 | -10.4% | Nov 1, 2024 |
| BMO Capital | Evan David Seigerman | $48 | $49.56 | -24.6% | Sep 23, 2024 |
| Goldman Sachs | Chris Shibutani | $57 | $50.54 | -10.4% | Jul 29, 2024 |
| Barclays | Carter Gould | $41 | $50.45 | -35.6% | Jul 29, 2024 |
| UBS | Trung Huynh | $43 | $40.68 | -32.4% | Jul 12, 2024 |
| Cowen & Co. | Steve Scala | $67 | $44.11 | +5.3% | May 16, 2024 |
| Deutsche Bank | James Shin | $55 | $49.87 | -13.6% | Jan 30, 2024 |
| BMO Capital | Evan Seigerman | $60 | $49.76 | -5.7% | Nov 27, 2023 |
| Leerink Partners | David Risinger | $66 | $56.24 | +3.7% | Oct 12, 2023 |
| Cantor Fitzgerald | Louise Chen | $75 | $59.67 | +17.9% | Sep 6, 2023 |
| Wells Fargo | Mohit Bansal | $70 | $78.22 | +10.0% | May 18, 2022 |
| BMO Capital | Analyst unavailable | $92 | $75.66 | +44.6% | May 2, 2022 |
| Barclays | Analyst unavailable | $68 | $75.27 | +6.9% | May 2, 2022 |
| Guggenheim | Seamus Fernandez | $80 | $75.27 | +25.7% | May 2, 2022 |
| BMO Capital | Evan Seigerman | $87 | $75.08 | +36.7% | May 2, 2022 |
| Morgan Stanley | Terence Flynn | $64 | $76.5 | +0.6% | Apr 11, 2022 |
| BMO Capital | Evan Seigerman | $81 | $73.79 | +27.3% | Apr 4, 2022 |
| Morgan Stanley | Matthew Harrison | $66 | $73.11 | +3.7% | Mar 28, 2022 |
| BMO Capital | Evan David Seigerman | $74 | $70.52 | +16.3% | Mar 17, 2022 |
| Barclays | Carter Gould | $66 | $56.22 | +3.7% | Oct 28, 2021 |
| Citigroup | Andrew Baum | $75 | $56.89 | +17.9% | Oct 25, 2021 |
| Guggenheim | Seamus Fernandez | $82 | $59.05 | +28.8% | Sep 20, 2021 |
| Societe Generale | Justin Smith | $85 | $63.63 | +33.6% | Sep 7, 2021 |
| Bank of America Securities | Geoff Meacham | $78 | $65.88 | +22.6% | Jul 27, 2021 |
Track every rating change on BMY the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+5.2%
Event window
SPY move
+1.0%
Same window
Abnormal move
+4.2%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
-5.6%
Up to 20 sessions
BMYSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
New this quarter: iberdomide received FDA breakthrough therapy designation and priority review with a PDUFA date of August 17; positive Phase III interim data for an ADC in previously treated triple-negative breast cancer was presented in China; a new focused study for Camzyos in non-obstructive hypertrophic cardiomyopathy was announced; and the company disclosed two acquisitions, one to obtain the Cobenfy asset and another adding an mRNA in-vivo platform to expand cell-therapy capabilities.
Guidance delta
Full-year 2026 guidance was reaffirmed. Management expressed confidence in meeting the upper end of the range, citing continued execution, AI-driven R&D efficiencies, and pipeline progress.
Key takeaways
- Q1 revenue of $11.5B beat consensus by 5.1%, and EPS of $1.58 beat by 11.3%, driven by double-digit growth in Breyanzi and Opdualag.
- Pipeline momentum is strong: iberdomide received FDA breakthrough therapy designation with an August 17 PDUFA date, and positive Phase III interim ADC data was presented in triple-negative breast cancer.
- Full-year guidance was reaffirmed at the upper end of the range.
- AI and laboratory automation initiatives aim to reduce drug development cycle times by 30%.
- Business-development capital remains available for strategic acquisitions, as evidenced by two recent deals for Cobenfy and an mRNA in-vivo platform.
Management priorities
- Present full Phase III data for ADCs and oral CELMoDs at ASCO.
- Launch and expand market uptake of Pumitamig across multiple oncology indications.
- Initiate a focused trial of Camzyos in non-obstructive hypertrophic cardiomyopathy.
- Accelerate AI and laboratory automation investments to further reduce cycle times.
- Continue evaluating strategic M&A opportunities aligned with core therapeutic areas.
Related earnings events
HealthcareSources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-28T22:21:10.411547+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T22:21:10.408544+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.