7/104 sources · 3 publishersUpdated Oct 8, 21:20 UTC
Leerink Partners downgrades Bristol‑Myers Squibb and cuts price target to $59
On October 5 2026, Leerink Partners lowered its rating on Bristol‑Myers Squibb from Outperform to Market Perform and reduced its price target from $73 to $59. The downgrade cited uncertainty around key pipeline candidates and led to a pre‑market decline of about 2% in the stock. The note also trimmed long‑term sales forecasts for admilparant and milvexian and lowered the 2032 EPS outlook.
Why it matters
The downgrade and lower price target signal reduced expectations for future growth, which may weigh on the stock price until the company reports its next earnings.
Key facts
- 1Leerink Partners downgraded Bristol‑Myers Squibb from Outperform to Market Perform on October 5 2026. investing.com
- 2The firm cut its price target from $73.00 to $59.00. investing.com
- 3BMY shares fell 2.2% in pre‑market trading following the downgrade. investing.com
- 4Projected 2032 sales for admilparant were trimmed by 38% and for milvexian by 25% according to the downgrade note. investing.com
- 5The 2032 earnings‑per‑share forecast was lowered to $4.96, an 11% reduction. investing.com
- 6Insider selling activity over the prior three months totaled $437,248. gurufocus.com
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.