Bristol Myers Squibb expected to have positive Q2 driven by growth portfolio

From Nasdaq: 2024-07-28 21:01:12

Bristol Myers Squibb (NYSE: BMY) is set to release its Q2 2024 results on July 26. Expectations are high for BMY stock, with revenue and earnings projected to surpass street estimates. The company should benefit from market share gains for its growth portfolio drugs. BMY stock has seen fluctuations but has room for growth, according to analysis.

In a volatile market environment, Bristol Myers Squibb’s stock has faced challenges in outperforming the S&P 500. However, Trefis’ High Quality (HQ) Portfolio has consistently outperformed the benchmark index. With a valuation estimated at $50 per share, BMY stock shows potential for over 10% upside. Factors like biosimilar competition may impact the stock’s valuation.

Despite facing macroeconomic uncertainty, Bristol Myers Squibb is expected to have a positive Q2 with revenue growth driven by its growth portfolio. While older drugs like Revlimid may see lower sales, newer drugs are projected to achieve significant sales by 2026. The company may face pressure on gross margins in the short term with expected earnings of $1.65 per share for the quarter.

Overall, Bristol Myers Squibb is likely to report a strong Q2 and has room for stock growth. While BMY stock shows potential for higher levels, comparisons with industry peers can provide valuable insights. The company’s performance metrics indicate its position in the market and future growth prospects.

(Source: https://www.trefis.com/data/companies/BMY/)



Read more at Nasdaq: Growth Portfolio Will Likely Drive Bristol Myers Squibb’s Q2