Princeton, New Jersey-based Bristol-Myers Squibb Company (BMY) discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products. With a market cap of $102.2 billion, the company focuses on products and experimental therapies address cancer, heart disease, HIV and AIDS, diabetes, rheumatoid arthritis, hepatitis, organ transplant rejection, and psychiatric disorders.

Shares of this biopharma giant have outperformed the broader market over the past year. BMY has gained 12.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 11.7%. However, in 2025, BMY stock is down 12.3%, compared to the SPX’s 4.7% decline on a YTD basis.

Zooming in further, BMY’s outperformance looks more pronounced compared to the iShares U.S. Pharmaceuticals ETF (IHE). The exchange-traded fund has gained marginally over the past year. However, the ETF’s marginal dip on a YTD basis outshines the stock’s double-digit losses over the same time frame.

BMY's outperformance can be attributed to strong growth in key drugs like Opdivo, Breyanzi, Reblozyl, and Camzyos. Opdivo's new subcutaneous formulation, Opdivo Qvantig, has been well-received and is expected to drive further growth. Reblozyl, in collaboration with Merck & Co., Inc. (MRK), has seen stellar performance in treating MDS-associated anemia. Camzyos has also witnessed strong global demand. Additionally, the approval of Cobenfy for schizophrenia broadens BMY's portfolio and is expected to contribute significantly to the company's revenue in the coming years.

On Apr. 24, BMY shares closed up marginally after reporting its Q1 results. Its revenue stood at $11.2 billion, down 5.6% year over year. The company’s adjusted EPS came in at $1.80, compared to its adjusted loss per share of $4.40 from the year-ago quarter. 

For the current fiscal year, ending in December, analysts expect BMY’s EPS to grow 499.1% to $6.89 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.

Among the 26 analysts covering BMY stock, the consensus is a “Moderate Buy.” That’s based on seven “Strong Buy” ratings, 18 “Holds,” and one “Strong Sell.”

This configuration is fairly stable over the past three months. 

On Apr. 30, Piper Sandler Companies (PIPR) kept an “Overweight” rating on BMY and raised the price target to $66, implying a potential upside of 33% from current levels.

The mean price target of $56.76 represents a 14.4% premium to BMY’s current price levels. The Street-high price target of $68 suggests an ambitious upside potential of 37.1%.