Forecast Of The Day: Bristol-Myers Squibb Oncology Drugs Revenue
What?
Trefis expects Bristol-Myers Squibb (NYSE:BMY) Oncology Drug sales to rise from $27.7 billion in 2020 to $29.1 in 2021 and $30.3 billion in 2022.
Why?
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We expect the growth to be driven by Revlimid – the company’s largest drug, which is used to treat multiple myeloma – and Opdivo which is used to treat bladder cancer.
So What?
BMY stock has risen by only 22% over the last year, underperforming the broader markets, with the S&P 500 up 39%. However, we think the stock is undervalued, trading at $67, about 15% below our fair value estimate.
See Our Complete Analysis For Bristol Myers Squibb
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