Bullish BMY thesis by chrisinvests

BMY - Bristol-Myers Squibb Company - Healthcare

Bristol Myers (BMY) has been making a bit of a comeback since that big dip last summer. If you look at the last year, shares dropped hard into the low 40s by late July and then spent months fighting back. That rebound wasn't exactly smooth sailing but now the stock's back near 57, and people seem to notice BMY means business again.

I’m bullish here into the next couple months and targeting 67.00. The main reason: the pipeline is starting to actually deliver, with new approvals and some late stage drugs that should move the revenue needle. Even with patent cliffs looming (they always loom with big pharma), BMY has kept earnings quite steady, plus the dividend is no joke. On top of that, a lot of negativity seems priced in after that drawdown. It's still trading under historic multiples for a name like this.

What could mess this up? Pipeline risk is real, and if one of their big studies flops or the FDA has issues, that’ll sting. Also, buyout rumors can get weird with these valuations, but I wouldn't count on them as a positive.

Near term catalyst is the next earnings print in about 6 weeks. Management will address both the pipeline and cost control, and if they beat and give any sort of upside, I think funds pile back in. Feels like the market is ready to believe in large cap pharma again, and BMY is a cheap way to play that reversal just don’t expect fireworks overnight.

Bullish

Open

Created May 30, 2026

Community vote

Entry Price

$56.91

Above

$67.00

Target Date

Aug 8, 2026

Karma

122 to 17261

Above target (win)Projection

Comments

Jun 1, 2026 · 14:25

I get the pipeline finally showing signs of life, but I’m not convinced those new approvals are enough to clear BMY’s overhang from patent cliffs anytime soon. The bounce from the 40s was pretty aggressive though, I’ll give you that. Feels like if sentiment shifts again it could chop sideways. I’d want to see better revenue guidance before betting on 67 by 2026.

Jun 6, 2026 · 23:30

Honestly I’m with you here, I’m not ready to call those new approvals a cure all for the patent cliffs either. Pipeline progress is nice but the overhang is still there and it’s not just going to vanish because the stock stopped bleeding. Might be some upside left if the momentum holds but it’s hard for me to see a clean run to 67 in the next year or two unless something bigger happens.

Jun 3, 2026 · 22:05

Lol “BMY means business again” is the bull case huh? I mean I get the pipeline thing but this company’s been stuck in boomer purgatory forever. Sure it clawed back from the 40s but unless these new drugs are straight up blockbusters, I’m not betting the farm.

Jun 5, 2026 · 00:39

I see where you're coming from on the pipeline; it's not totally dead money here, but I'm just not sure BMY shakes off that patent cliff vibe so easily. Even with those approvals, they've still got some big shoes to fill on revenue. Not saying it can't hit 67 by 2026, but I'd want to see a little more evidence those new drugs actually move the needle before getting too comfortable. Feels a bit early to call it a comeback.

Jun 5, 2026 · 22:46

Everybody's obsessed with the patent cliffs like BMY’s just gonna roll over and die. They tanked into the 40s and still clawed their way back most of pharma would be wrecked after that kind of drop. If the pipeline actually hits and the new drugs don’t flop, 67 isn’t even that wild. Doubt the suits running this place forgot how to make money overnight.

Jun 9, 2026 · 00:44

The pipeline’s definitely not dead but I’m not sure a couple of approvals fixes all the baggage here, especially with those patent cliffs still lurking. The rebound is encouraging but it’s been a grind just to get back to mid 50s feels early to call it a real turnaround. I’d want to see a few more quarters of solid execution before betting on 67. Maybe there’s some upside but I’m keeping my guard up.