NEW YORK, Dec. 28, 2025, 2:53 PM ET, Market closed
Bristol Myers Squibb Company (NYSE: BMY) enters the final trading stretch of 2025 with investors balancing a defensive “big pharma” profile and above-market income appeal against policy headlines and the long-running question hanging over the name: how quickly can new launches and pipeline catalysts offset upcoming loss-of-exclusivity (LOE) pressure in key franchises?
With U.S. equity markets closed for the weekend, BMY’s most recent official print is Friday’s regular-session close at $54.64, down 0.13% on the day. The stock traded between $54.38 and $55.04 with volume of 9.57 million shares, sitting in the middle of a $42.52–$63.33 52-week range. [1]
Extended-hours indications late Saturday showed BMY around $54.75 as of 8:00 p.m. ET, up about 0.20% from Friday’s close—useful as a sentiment check, though liquidity is typically thinner outside regular hours and there’s no trading again until Monday. [2]
BMY stock price snapshot heading into Monday
Here’s what investors are digesting before the next session:
- Last close (Fri.): $54.64 [3]
- Friday range: $54.38–$55.04 [4]
- 52-week range: $42.52–$63.33 [5]
- After-hours reference (Sat. 8:00 p.m. ET): $54.75 [6]
Latest BMY headlines in the last 24–48 hours: filings and year-end positioning
Weekend newsflow around Bristol Myers Squibb has been lighter on fresh corporate announcements and heavier on ownership and positioning—common for a late-December weekend.
Several widely-circulated writeups highlighted institutional activity based on SEC filings and portfolio updates, including:
- Brookstone Capital Management increasing its BMY position (reported Saturday). [7]
- Cwm LLC raising its stake in the company (reported Saturday). [8]
- Meyer Handelman Co. reporting a reduction in shares (reported Saturday). [9]
For investors, the key takeaway is not that these moves alone change BMY’s fundamentals—many such filings reflect prior-quarter activity—but that BMY remains firmly on the radar for institutions and dividend-focused portfolios as the year closes. [10]
Barron’s also ran a weekend feature framing the stock as a “beaten-down” pharma name with potential for a turnaround narrative into the new year. (The existence and framing are clear from the headline and publication entry; details require the full article.) [11]
Wall Street forecasts and analyst tone: cautious consensus, big dispersion
Across major tracking services, Bristol Myers Squibb’s consensus profile still reads as mixed—often clustered around “Hold/Neutral” style recommendations—but with notable disagreement on where the stock should trade over the next 12 months.
- TipRanks shows the average analyst price target around $53.93, with the mix in the current month reflecting more Buys than Sells but still a large Hold cohort. [12]
- MarketBeat posts a consensus rating of Hold and a consensus price target near $54.62, essentially implying flat performance from recent levels. [13]
- Benzinga’s consolidated table shows a broader universe and a higher consensus price target ($59.50), while still flagging a wide range between bullish and bearish targets. [14]
The bullish case: “valuation + catalysts”
BofA Securities has been a prominent constructive voice in December. In a widely shared note summarized by Benzinga, Jason Gerberry pointed to valuation and a catalyst-heavy 2026 setup, arguing the market may be undervaluing pipeline upside scenarios. [15]
Benzinga’s analyst table also records BofA Securities maintaining a Buy stance and a higher target in recent updates (with the table listing Tim Anderson associated with the latest call). [16]
The bearish case: LOE and uncertainty on the post-cliff growth path
On the other end, Morgan Stanley is shown reiterating an underweight stance with a low target ($37 in Benzinga’s table), underscoring that skepticism remains around the timing and durability of the company’s re-acceleration after major patent expirations. [17]
Fundamentals check: raised 2025 revenue guidance and “Growth Portfolio” momentum
The most recent detailed company financial update remains Bristol Myers Squibb’s Q3 2025 earnings release (Oct. 30, 2025). In that report, the company said:
- Q3 revenue: $12.2 billion (up 3%)
- Q3 GAAP EPS: $1.08; non-GAAP EPS: $1.63
- Updated 2025 revenue guidance: approximately $47.5–$48.0 billion
- Updated 2025 non-GAAP EPS guidance:$6.40–$6.60 [18]
CEO Christopher Boerner framed the quarter around execution and continued “Growth Portfolio” momentum as Bristol Myers works to build its next wave of medicines. [19]
This matters for the stock because it anchors two competing narratives:
- a company still generating strong cash flows and supporting shareholder returns, and
- a market that wants more concrete visibility on the post-LOE revenue bridge—especially into 2026–2029.
Pipeline and FDA calendar: key catalysts investors are watching into 2026
BMY’s investment debate is unusually catalyst-driven, and late 2025 brought several datapoints investors continue to price.
Opdivo label-expansion watch: FDA target date in April 2026
Bristol Myers Squibb said the FDA granted priority review to its application for Opdivo (nivolumab) plus chemotherapy in previously untreated Stage III/IV classical Hodgkin lymphoma, with a target action date of April 8, 2026. [20]
In the company announcement, Monica Shaw, SVP of Oncology Commercialization, positioned the filing as a step toward a potential new first-line standard of care—language that highlights why label expansions remain central to BMY’s near-term growth story. [21]
Neuroscience program watch: ADEPT-2 continuation and 2026 readouts
In another closely watched area, BMY announced it would enroll additional patients in its ADEPT-2 Phase 3 study in psychosis associated with Alzheimer’s disease after identifying irregularities at a small number of sites and, following consultation with the FDA, proceeding under Data Monitoring Committee guidance. [22]
Laura Gault, MD, PhD, Senior Vice President and Head of Development for Neuroscience Drug Development at BMY, said the decision reflects the company’s focus on study integrity and unmet need, while noting the company remains blinded to study data. BMY also said additional ADEPT program results are expected to read out by the end of 2026. [23]
Policy and pricing: Eliquis agreement with the U.S. government remains in focus
Even though it falls outside the last 48 hours, investors are still actively digesting late-December policy headlines because of their potential impact on pricing and visibility into 2026.
A Zacks analysis published on Nasdaq described a pricing agreement under which Bristol Myers Squibb would supply Eliquis at no cost to Medicaid beginning Jan. 1, 2026, and donate active pharmaceutical ingredient to support supply-chain resilience. [24]
Reuters reported on a broader set of deals involving multiple drugmakers and highlighted that, despite headline price cuts, markets interpreted some provisions (including tariff relief) as reducing uncertainty. Reuters quoted Bernstein analyst Courtney Breen as saying the deals “deliver headlines” while minimizing a major step-change in economics. [25]
For BMY specifically, investors tend to focus on two facts:
- Eliquis is a top revenue generator, and any Medicaid/discount structure changes can influence forward expectations. [26]
- Policy headlines can move the whole sector quickly—especially when they introduce (or remove) tariff or pricing mandate risk. [27]
Dividend update: BMY boosted its payout heading into 2026
Bristol Myers Squibb announced in December that its board declared a quarterly dividend of $0.63 per share, payable Feb. 2, 2026 to shareholders of record as of Jan. 2, 2026—a 1.6% increase from the prior $0.62 rate, and the company noted it marks the 17th consecutive year of dividend increases. [28]
At Friday’s close ($54.64), the forward annualized dividend rate of $2.52 implies a yield of roughly 4.6%—a key reason BMY continues to show up in income-oriented screens. [29]
If you’re watching BMY for Monday: what matters before the next session
With markets closed now, here are the practical items many investors track going into Monday’s reopen:
- Holiday trading schedule and liquidity conditions
Stocks are closed on New Year’s Day (Thu., Jan. 1, 2026), and the year-end period can bring thinner liquidity and sharper moves on modest headlines. [30] - Analyst target dispersion (and what it signals)
Consensus targets cluster around the mid-$50s on some trackers, but the range of credible published targets remains wide—reflecting real disagreement about BMY’s post-LOE path. [31] - Catalyst calendar: next major company event is earnings
Bristol Myers Squibb has scheduled its Q4 2025 results for Feb. 5, 2026, with an 8:00 a.m. ET conference call. That date is a key “next reset” for guidance and narrative. [32] - Policy follow-through risk
Any additional detail or commentary around the Eliquis/Medicaid arrangement and broader drug-pricing initiatives can influence sentiment quickly in large-cap pharma. [33] - Income positioning into record dates
The company’s stated record date for the next dividend is Jan. 2, 2026, which tends to pull dividend-focused attention toward end-of-year trading calendars. [34]
Bristol Myers Squibb stock closes the weekend in a familiar spot: priced like a value-and-income name, but trading on catalysts—pipeline progress, policy clarity, and confidence that the growth portfolio can outpace the patent cliff. Monday’s session is likely to be driven less by technicals and more by any incremental headlines that shift that balance.
This article is for informational purposes only and does not constitute investment advice.
References
1. investors.bms.com, 2. public.com, 3. investors.bms.com, 4. investors.bms.com, 5. investors.bms.com, 6. public.com, 7. www.marketbeat.com, 8. www.marketbeat.com, 9. www.marketbeat.com, 10. www.marketbeat.com, 11. www.marketwatch.com, 12. www.tipranks.com, 13. www.marketbeat.com, 14. www.benzinga.com, 15. www.benzinga.com, 16. www.benzinga.com, 17. www.benzinga.com, 18. www.bms.com, 19. www.bms.com, 20. news.bms.com, 21. news.bms.com, 22. news.bms.com, 23. news.bms.com, 24. www.nasdaq.com, 25. www.reuters.com, 26. www.nasdaq.com, 27. www.reuters.com, 28. news.bms.com, 29. news.bms.com, 30. www.nyse.com, 31. www.marketbeat.com, 32. news.bms.com, 33. www.reuters.com, 34. news.bms.com
