BMY - Bristol Myers Squibb: Seriously Undervalued At Peak Pessimism (Rating Upgrade)
2024-04-12 12:06:30 ET
Summary
- 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.
- Analysts expect the company's revenue to continue growing over the next three years, reaching around $46.4 billion in 2025, representing a P/S ratio of 2.2x, suggesting it is trading at a discount to the healthcare sector.
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Bristol Myers Squibb: Seriously Undervalued At Peak Pessimism (Rating Upgrade)