Shares of Bristol-Myers Squibb Company (NYSE:BMY) traded today at $77.84, eclipsing its 12-month high. Approximately 5.2 million shares have changed hands today, as compared to an average 30-day volume of 15.4 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 a leader 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.
Bristol-Myers Squibb Company is currently priced 3.2% above its average consensus analyst price target of $75.19.
Over the past year, Bristol-Myers Squibb Company has traded in a range of $53.22 to $77.84 and is now at $77.66, 46% above that low.
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