BMY Stock Recent News
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The U.S. stock market continues to climb the wall of worry, despite persistent inflation and heightened geopolitical risks. The S&P 500 has returned 26% in the past 12 months, while the Wilshire 5000 index (a broader gauge of the total U.S. stock market) has gained 23% in the past year, not including dividends.
Bristol Myers Squibb is turning on its innovative machine to get through recent patent cliffs. Novartis recently became a thinner company that is laser-focused on developing new medicines.
Bristol Myers Squibb (BMY) closed the most recent trading day at $48.51, moving +0.48% from the previous trading session.
Bristol Myers Squibb's share price continues to move sideways despite several regulatory approvals for its innovative drugs in the past six months. On April 2, 2024, the EMA approved Reblozyl as a first-line treatment for anemia in certain patients with MDS. On March 14 of this year, Breyanzi was approved by the FDA to combat relapsed/refractory CLL and small lymphocytic lymphoma, which will help accelerate its sales growth.
Expectations for US biopharma companies' first quarter earnings are low given the typical seasonality across the sector and new healthcare plan signups, analysts at the Bank of America believe. “We don't expect many guidance changes; a stable earnings season should warrant continued generalist interest in biopharma,” the analysts wrote in a note.
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Biotech stocks are one of the hottest investing opportunities in the stock marketlately. The optimism surrounding the industry is evident in the SPDR S&PBiotech ETF's (NYSEARCA: XBI ) 25% bump in value over the past six months, outpacing broader market gains.
In the latest trading session, Bristol Myers Squibb (BMY) closed at $51.60, marking a +0.98% move from the previous day.
J&J's cell therapy is now approved for an earlier line of treatment than a competing drug from Bristol Myers. Meanwhile, a look at Mount Sinai's approach to AI.
Bristol Myers' (BMY) Krazati, in combination with cetuximab, demonstrates clinically meaningful activity as a targeted treatment option for patients with previously treated KRASG12C-mutated locally advanced or metastatic colorectal cancer.