Bristol-Myers Squibb Company (BMY), headquartered in New York and with a market cap of $121.6 billion, is a global leader in biopharmaceutical innovation. Known for its expertise in developing life-saving therapies across oncology, immunology, cardiovascular, and hematology, Bristol-Myers Squibb plays a critical role in advancing healthcare, improving patient outcomes, and driving medical progress worldwide.

Companies worth $10 billion or more are described as “large-cap stocks,” Bristol-Myers Squibb fits this category. As a global biopharma leader, Bristol-Myers Squibb focuses on discovering, developing, and delivering innovative medicines that address serious diseases. With a robust portfolio of life-saving therapies and a presence in markets worldwide, the company has solidified its position as a key player in advancing healthcare and improving patient outcomes globally.

The biopharma giant has fallen 3.9% from its 52-week high of $61.08, which it hit on Nov. 11. However, shares of BMY are up 16.2% over the past three months, outperforming the broader Nasdaq Composite’s ($NASX) 13.7% gain during the same time frame.

In the long term, BMY has achieved a 14.4% gain on a YTD basis and a 17.2% increase over the past 52 weeks. By comparison, the NASX has risen 29.8% in 2024 and 36.2% over the same period.

To confirm the recent bullish trend, BMY has traded above its 50-day moving average since mid-July and above its 200-day moving average since August.

On Oct. 31, Bristol-Myers Squibb's shares gained over 5% following a strong Q3 earnings report. The company posted revenues of $11.9 billion, reflecting 8% growth. Non-GAAP EPS was $1.80, impacted by a charge related to acquired IPRD and licensing income. Notably, BMY secured U.S. approval for Cobenfy, a groundbreaking treatment for schizophrenia, marking a significant milestone in mental health therapeutics.

BMY raised its 2024 revenue growth guidance to approximately 5% and adjusted its non-GAAP EPS forecast to a range of $0.75 to $0.95.

Its rival AbbVie Inc. (ABBV) has outperformed BMY, demonstrating resilience with a 17.1% on a YTD basis increase and impressive 26.6% gains over the past 52 weeks.

Wall Street analysts maintain a cautious outlook on BMY’s prospects. Of the 25 analysts covering the stock, the consensus rating is “Hold,” with a mean price target of $58.24, suggesting the stock is currently trading at a premium.