11 Best Medical Stocks to Buy According to Analysts

6. Bristol-Myers Squibb Company (NYSE:BMY)

Analyst Upside: 26.99%

Number of Hedge Fund Holders: 69

Bristol-Myers Squibb Company (NYSE:BMY) ranks among the best medical stocks to buy according to analysts. Bristol-Myers Squibb Company (NYSE:BMY) announced on July 21 that its supplementary New Drug Application for Sotyktu (deucravacitinib), a medication used to treat adults with active psoriatic arthritis, had been approved by the U.S. Food and Drug Administration.

The regulatory submissions were made based on the findings of two Phase 3 clinical trials, POETYK PsA-1 and POETYK PsA-2, which enrolled roughly 670 and 730 patients, respectively. When compared to placebo, a considerably higher number of patients using Sotyktu at Week 16 achieved an ACR20 response, indicating that both trials achieved their primary aim.

If Sotyktu is authorized for psoriatic arthritis, it could be the first TYK2 inhibitor for this medical condition. According to the company, the safety profile documented in the psoriatic arthritis trials was in line with earlier research.

A multinational biopharmaceutical corporation, Bristol-Myers Squibb Company (NYSE:BMY) is engaged in product discovery, research, licensing, manufacturing, marketing, and distribution.