Shares of Bristol-Myers Squibb Company (NYSE:BMY) traded today at $69.45, eclipsing its 52-week high. This new high was reached on below average trading volume as 940,000 shares traded hands, while the average 30-day volume is approximately 7.9 million shares.
Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, oncology, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is leading in drug development. Unlike some of its more diversified peers, Bristol has exited several nonpharmaceutical businesses to focus on branded specialty drugs, which tend to support strong pricing power.
In the past 52 weeks, shares of Bristol-Myers Squibb Company have traded between a low of $56.75 and a high of $69.45 and is now at $69.42, which is 22% above that low price.
Potential upside of 77.0% exists for Bristol-Myers Squibb Company, based on a current level of $69.42 and analysts’ average consensus price target of $122.89.
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