Bristol Myers Squibb slips as investors weigh long-term pricing and patent-cliff risks despite FDA review news

Bristol Myers Squibb (BMY) is down 4.0% today. Here is some analysis on what might have caused this price movement.

Analysis: There does not appear to be a single, clearly negative company-specific headline driving the drop. Instead, the move looks consistent with investors refocusing on longer-term revenue pressure from U.S. pricing dynamics and upcoming loss-of-exclusivity headwinds, even as the company highlighted a new regulatory milestone. This could also be simple profit-taking or risk-off positioning in large-cap pharma after a news event.

Details:

Bristol Myers Squibb said the FDA accepted a supplemental application for Camzyos (mavacamten) in adolescents with symptomatic obstructive hypertrophic cardiomyopathy, with the filing supported by Phase 3 SCOUT-HCM results.

In its most recent quarterly update, the company reported first-quarter 2026 results and reaffirmed its full-year 2026 revenue and non-GAAP EPS outlook.

U.S. policy-related drug pricing pressure remains a key overhang for large drugmakers, as Medicare drug price negotiation timelines continue to advance across negotiation cycles.

Bristol Myers has also discussed commercial actions around Eliquis pricing, highlighting how price changes can affect volume and revenue expectations and keep investors focused on forward pricing risk.

Sources:

Bristol Myers Squibb Investor Relations, KFF, Reuters

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$BMY Insider Trading Activity

$BMY insiders have traded $BMY stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $BMY stock by insiders over the last 6 months:

DAVID V ELKINS (EVP, Chief Financial Officer) has made 0 purchases and 2 sales selling 30,000 shares for an estimated $1,850,016.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$BMY Hedge Fund Activity

We have seen 1,287 institutional investors add shares of $BMY stock to their portfolio, and 1,141 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BANK OF AMERICA CORP /DE/ added 17,527,686 shares (+116.4%) to their portfolio in Q1 2026, for an estimated $1,063,054,155
CAPITAL INTERNATIONAL INVESTORS removed 12,559,082 shares (-59.8%) from their portfolio in Q1 2026, for an estimated $761,708,323
JPMORGAN CHASE & CO removed 10,813,011 shares (-12.5%) from their portfolio in Q4 2025, for an estimated $583,253,813
CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 10,207,019 shares (-14.3%) from their portfolio in Q1 2026, for an estimated $619,055,702
PACER ADVISORS, INC. removed 9,304,698 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $501,895,410
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 8,317,781 shares (-48.4%) from their portfolio in Q1 2026, for an estimated $504,473,417
MARSHALL WACE, LLP removed 7,154,432 shares (-66.0%) from their portfolio in Q1 2026, for an estimated $433,916,300

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$BMY Government Contracts

We have seen $9,529,038 of award payments to $BMY over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

REVLIMID, POMALYST, CAMZYOS SPECIALTY PHARMACEUTICALS: $848,445

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$BMY Congressional Stock Trading

Members of Congress have traded $BMY stock 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $BMY stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. purchased up to $15,000 on 12/19.
REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 12/18.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$BMY Analyst Ratings

Wall Street analysts have issued reports on $BMY in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Piper Sandler issued a "Overweight" rating on 02/23/2026
B of A Securities issued a "Buy" rating on 12/15/2025
Guggenheim issued a "Buy" rating on 12/12/2025

To track analyst ratings and price targets for $BMY, check out Quiver Quantitative's $BMY forecast page.

$BMY Price Targets

Multiple analysts have issued price targets for $BMY recently. We have seen 14 analysts offer price targets for $BMY in the last 6 months, with a median target of $60.0.

Here are some recent targets:

Tim Anderson from B of A Securities set a target price of $67.0 on 04/09/2026
Seamus Fernandez from Guggenheim set a target price of $72.0 on 04/08/2026
Carter Gould from Cantor Fitzgerald set a target price of $54.0 on 04/08/2026
Rajesh Kumar from HSBC set a target price of $60.0 on 03/17/2026
Trung Huynh from RBC Capital set a target price of $60.0 on 02/25/2026
David Amsellem from Piper Sandler set a target price of $75.0 on 02/23/2026
Emily Field from Barclays set a target price of $75.0 on 02/20/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.