Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company known for its innovative medicines. The company focuses on discovering, developing, and delivering treatments for serious diseases. BMY competes with other pharmaceutical giants like Pfizer and Merck. On July 21, 2025, David Macdonald from Truist Financial set a price target of $84 for BMY, while the stock was trading at $47.12, suggesting a potential increase of 78.27%.
BMY's recent announcement about its Supplemental New Drug Application (sNDA) for Sotyktu (deucravacitinib) marks a significant development. The application, aimed at treating adults with active psoriatic arthritis, has been accepted for review in four global regions. This step could potentially enhance BMY's market position and contribute to reaching the $84 target set by Truist Financial.
Currently, BMY's stock price is $47.08, reflecting a slight decrease of 0.60% from the previous trading day. The stock has experienced a decline of $0.29, with a trading range between $46.61 and $47.39. Despite this fluctuation, the potential for growth remains, especially with the positive developments surrounding Sotyktu.
BMY's market capitalization is approximately $95.8 billion, indicating its substantial presence in the pharmaceutical industry. The trading volume on the NYSE is 2,264,368 shares, showing active investor interest. Over the past year, BMY's stock has reached a high of $63.33 and a low of $41.90, highlighting its volatility and potential for recovery.
The acceptance of the sNDA for Sotyktu could be a catalyst for BMY's stock performance. As the review process unfolds, investors will be keenly watching for updates. The potential approval and expansion of Sotyktu's therapeutic use could significantly impact BMY's financial outlook and help achieve the ambitious price target set by Truist Financial.
