Leerink Bullish on Bristol-Myers Squibb Company (BMY) Amid Ample Pipeline Optionality in 2026

Bristol-Myers Squibb Company (NYSE:BMY) is one of the best undervalued wide moat stocks.

On January 13, 2026, Leerink raised its price target on Bristol-Myers Squibb Company (NYSE:BMY) from $54.00 to $60.00, while reiterating an ‘Outperform’ rating. Highlighting ample pipeline optionality in 2026, the firm noted 12 registration data readouts across eight assets. Most of these assets represent potential new launches and are currently significantly discounted by the market. With this backdrop, the firm expects strong upside potential, especially if key trials deliver positive results.

The previous day, in line with Leerink’s positive outlook, Bristol-Myers Squibb Company (NYSE:BMY) reported positive topline results from SCOUT-HCM, a Phase 3 trial evaluating Camzyos (mavacamten) in adolescents with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). Meeting its primary endpoint, the trial significantly reduced Valsalva left ventricular outflow tract (LVOT) gradient at Week 28 compared to placebo. At the same time, secondary endpoints were also met. Moreover, safety was ensured among adult patients, with no new signals observed. Looking ahead, management sees Camzyos becoming the first cardiac myosin inhibitor for adolescent patients.

Bristol-Myers Squibb Company (NYSE:BMY) focuses on discovering, developing, manufacturing, and marketing biopharmaceuticals, including small molecules, biologics, and CAR-T therapies.

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