Bristol myers squibb on Thursday reported better-the-exposed Quarterly Results, but weak guidance for 2025 sent shares lower. Jim Cramer’s Faith in the Drugmaker is UnSHAKEN. Revenue in the fourth Quarter Rose 8% Year Over Year to $ 12.34 Billion, Well ahead of the $ 11.57 billion consensus, according to analysts’ Estimates Compiled by LSEG. Adjusted Earnings Per Share (EPS) of $ 1.67 in the three months ended dec. 31 Topped Estimates of $ 1.46, LSEG Data Showed. On Annual Basis, Adjusted EPS Declined 1.8%. Bristol Myers Squibb (BMY) Why We We own it: The company’s new schizophrenia treatment cobenfy has immense sales sales potential, thought it remains in the early innings. Bristol myers have key products, such as blood -clot prevention drug eliquis and lung-cancer therapy opdivo, which will be coming off patent in the coming years. However, we believe its portfolio of growth drugs including cobenfy can help navigate that patent cliff. Initiation: nov. 25, 2024 Most Recent Buy Date: Jan. 17, 2025 Competitors: AbBVIE, PFIZER, Amgen, Johnson & Johnson and Merck Bottom Line The Slide in Bristol Myrs’ Stock Cook-Down more Than 4.5% AT SESSION LOWS BELOWS BELOWS BELOWS BELOWS Erm Investors. We’re reiterating our buy-equivalent 1 rating and price target of $ 70 a share. Bristol Myers Shares WHERE LATER ALECOVER SOME, DOWN ROUGHLY 2% in Late Morning Trading. “It’s a buy,” Jim said on CNBC’s “Squawk on the Street” on Chiursday Morning. “I was praying this (Sell-off) would Haappen So I Cold Go in And Buy a Little More.” The Club Can’t Buy Because We’re Restricted But that does not stop us from telling members what we would do. Jim Later said on the morning meeting, “You have to stand there and buy it hand over fist.” Bmy 1y Mountain Bristol Myrs Squibb 1 Year The Crux of Our Theseis in Bristol Myrs is Cobenf, the company’s new schizophrenia treatment that launched in the us at the end of last year. It’s off to a good start, tallying fourth -Quarter sales of $ 10 million on the drug. On Chiursday’s Earnings Call, Executives Sounded Pleased with the feedback they’Re Getting from Physicians and Patients on Cobenfy as Well as the Level of Insuration Coverage The DRG has SECRUG PORUG PORUG PAGRG PORG PORG “This is the first new mechanism of action in the treatment of schizophrenia. Habits, and that’s going to take some time , “Chief Commercialization Officer Adam Lenkowsky said on the call. “So, we would expect to see Continued Strong Uptake Through 2025 … with a ramp in the back half of this year Very big product for the company over time. ” Expanding the prescription label on cobenfy to include other conditions can help the drug realize that commercial potential. On that front, bristol myers is experts is experts to two trial readouts this year that can serve as catalysts to drive the stock higher, include evaluating its Effects The other data expected this year is for adjunctive schizophrenia, which would wideen its prescription options in that disease. Beyond that, Bristol Myers expects at least one clinical trial readout for Cobenfy in each year through the end of the decade, covering conditions such as Bipolar I Disorder and Autism Spectrum Disorder Irritability. Jim reiterated chursday his view that cobenfy even could be one of the biggest drugs of all time. Bristol Myers’ Overall Guidance for 2025 Certainly Left Something to Be Desired, However, With Its Revenue Forecast of Approximately $ 45.5 Billion Coming in Short of the $ 47.36 Billion S, according to lseg. Adjusted EPS Guidance of $ 6.55 to $ 6.85 also was lighter than the $ 6.92 Consensus. There are a less reasons to look past the miss, Thought. Chief Among Them is that Blood Cancer Treatment Revlimid is seeing Increased Generic Competition, which has contributed to the gap between guidance and consensusus. Jim said the company has been very up-front about the revlimid issues, which is why he heh’s not too concerned. Pomalyst, another of its cancer treatment, also is grappling with a patent expiration in europe. Indeed, Executives said on the call that its portfolio of “Legacy drugs,” Where its expenses 00 Million Foreign Exchange Headwind That May Not Have Been Baked Into Analysts’ Financial Models. We Also Liked that Management Announced Plans to Cut Up to $ 2 Billion in costs by 2027. DOCUMENTED PART of the Story. However, as long as bristol myers’ Executes on the launch of cobenfy and its broader “Growth portfolio,” Whoch Saw A 21% Year-Over-Year Saves Increase in the Quarter, “Continues to Perform Waren Believe the stock Can Keep Working. ade. 45 minutes after sending a trade alert before buying or seling a stock in his charitable trust’s portfolio. IF JIM HAS TALKED ABOUT A St. on CNBC TV, He Waits 72 Hours AFTERS AFTERSUNE Re Executing the Trade. The Above Investing Club Information is Subject to our terms and conditions and privacy policy, togeether with our disclaimer. Vesting club. No specific outcome or profit is guaranteed.
Boxes of opdivo from bristol myers are seen at the huntsman cancer institute at the university of utah in salt lake city, Utah, July 22, 2022.
George Frey | Reuters
Bristol Myers Squibb On Thuresday Reported Better-That-Expected Quarterly Results, But Weak Guidance for 2025 Sent Shares Lower. Jim Cramer’s Faith in the Drugmaker is UnSHAKEN.
