RBC Capital Initiates Bristol Myers (BMY) with $60 Target, Cites Late-Stage Pipeline Depth

Bristol-Myers Squibb Company (NYSE:BMY) is included among the 14 Best Affordable Dividend Stocks to Buy According to Analysts.

On February 25, RBC Capital initiated coverage of Bristol-Myers Squibb Company (NYSE:BMY) with a Sector Perform rating and a $60 price target. The firm said Bristol Myers has “large-cap pharma’s most significant Phase 3 path,” pointing to the depth of its late-stage pipeline. The analyst noted that the recent re-rating of the shares appears tied more to broader macro factors, valuation shifts, and positioning ahead of potential catalysts in the second half of 2026. It does not reflect a major change in the company’s underlying fundamentals. At current levels, the firm believes the risk and reward “appear balanced at these levels.”

On February 23, Bristol Myers announced positive top-line results from its ongoing Phase 2 registrational study evaluating Reblozyl for anemia in adults with Alpha (α)-Thalassemia outside the US. Both patient groups in the study met their primary goals. In non-transfusion-dependent patients, Reblozyl showed a statistically significant and clinically meaningful increase in hemoglobin levels. In transfusion-dependent patients, the treatment led to a statistically significant and clinically meaningful reduction in red blood cell transfusion needs.

The study also met all key secondary endpoints. Safety results were consistent with the established safety profile of Reblozyl in treating thalassemia.

Bristol-Myers Squibb Company (NYSE:BMY) operates as a global biopharmaceutical company focused on discovering, developing, and delivering medicines for serious diseases. Its work spans areas such as oncology, hematology, immunology, cardiovascular disease, and neuroscience.

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