{
  "id": 17205556,
  "title": "Wells Fargo cuts Bristol-Myers Squibb stock price target on LOE concerns",
  "url": "https://urgent.news/2026/10/30/wells-fargo-cuts-bristol-myers-squibb-stock-price-target-on-loe",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T09:28:59.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/wells-fargo-cuts-bristolmyers-squibb-stock-price-target-on-loe-concerns-93CH-4986333"
  },
  "original_language": "en",
  "account": "Wells Fargo reduced its price target on Bristol-Myers Squibb Co. stock to $60 from $65 while keeping an Equal Weight rating. The pharmaceutical company's shares are currently trading at $61.39, with a market capitalization of $125.4 billion, slightly above the new target. According to InvestingPro analysis, Bristol-Myers Squibb appears fairly valued at present. The firm highlighted management's comments on upcoming loss of exclusivity events and growth products. Management confirmed current guidance for Eliquis but noted its loss of exclusivity in some major European Union markets starting mid-November, leading to a rapid decline afterward. For growth products, management stated Breyanzi is still strong, and third-quarter seasonality may be less than expected. On the other hand, Opdivo management reaffirmed a $200 million sequential inventory build in Q2, which is expected to partially reverse by Q3. Notably, despite near-term headwinds, Bristol-Myers Squibb has maintained dividend payments for 56 consecutive years, currently yielding 4.1%. However, 17 analysts have recently revised earnings downwards. The stock trades at a P/E ratio of 13.37. Bristol-Myers Squibb also confirmed that SSP and AF trials might conclude in Q4 2026 and Q1 2027, respectively. The company reported a liver toxicity event in the Admilparant trial in the high dose arm, but an independent adjudication committee found it unlikely to be drug-related. Wells Fargo expressed concerns about efficacy and safety for Admilparant, suggesting a potential lower benefit on Forced Vital Capacity (FVC) of around 50-70mL due to lack of dose response. Bristol-Myers Squibb recently reported strong third-quarter results exceeding expectations, and Truist Securities raised its price target to $70.00 following the announcement. Overall, Wells Fargo cited questions over Admilparant's efficacy and safety and Eliquis's upcoming loss of exclusivity as the reasons for cutting the price target on Bristol-Myers Squibb stock.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}