Key Highlights

  • Bristol Myers Squibb (NYSE:BMY) traded at USD 56.63 on October 13, 2026, down 1.65% on 12.927 million shares (1.2 times the 3-month average), valued at USD 121.705 billion, with a P/E of 13.12 and a PEG of -16.94.
  • The company said on October 12, 2026 that its Phase 3 ALOFT-IPF trial of admilparant met its primary endpoint at the lower dose, and positive interim RYZ101 results followed, yet shares fell 1.65% on October 13.
  • Wells Fargo cut its target to USD 60 from USD 65 on October 13 while Jefferies raised to USD 76 from USD 73 on October 12, a split that shows how divided analysts are on the data.
  • A P/E of 13.12 and a negative PEG of -16.94 show a low multiple with no usable growth signal, with third quarter results due on October 29, 2026 and a published yield near 4.4%.

Catalyst and Latest Updates

Bristol Myers Squibb (NYSE:BMY) fell USD 0.95 to USD 56.63 on 12.927 million shares, about 1.2 times its 3-month average of 11.217 million. The news was positive but mixed: the Phase 3 trial of admilparant in idiopathic pulmonary fibrosis met its primary endpoint at the lower dose, and the company said a patient death in the study was unlikely related to the drug. RBC called the results encouraging but confounding. Published reports said the higher dose did not show the same benefit, and Contineum (NASDAQ:CTNM), which holds a program against the same target, fell sharply. Interim results for RYZ101 in neuroendocrine tumors were also positive.

What the Valuation Figures Mean

Bristol Myers sells cancer, blood, immune, heart and nerve medicines. Trailing revenue is about USD 49.2 billion, up 3.1%, but net income of about USD 9.3 billion is up 84%, per published data, a rise from a base depressed by earlier charges, which explains why the earnings growth filter passes despite slow sales. A P/E of 13.12 means about USD 13.12 is paid for each USD 1 of past-year earnings. The PEG of -16.94 is negative and unusable. The dividend of USD 2.52 a share is a published yield near 4.4%. Several older products face generic competition, which weighs on the sales outlook. The company also reinvests heavily in research, and acquired programs can create charges.

Risks and What to Watch

Patent expirations, the dose result in the lung trial and the safety signal that the company called unlikely to be drug-related are the main risks, and several brokers cut targets this month, including Cantor Fitzgerald to USD 53 from USD 59 and BofA to USD 66 from USD 71, while Leerink downgraded to Market Perform on October 5. At USD 56.63 the shares are about 17% below the 52-week high of USD 68.64 and about 33% above the low of USD 42.52, simple arithmetic on published figures. The published consensus is Hold from 28 analysts with a target near USD 65.83, which is not our forecast.

Where Things Stand

The answer is that positive but mixed trial data and analyst target cuts explain the 1.65% fall better than any single release, though the cause is not confirmed. Bristol Myers Squibb (NYSE:BMY) shows a P/E of 13.12 and an unusable PEG, with generic erosion as the main background risk. Results on October 29, 2026 are the next test. Published ratings are split, with several target cuts alongside a Jefferies increase.