11 Cheap Pharmaceutical Stocks to Buy Now

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

Forward P/E: 6.8

Number of Hedge Fund Holders: 69

Bristol-Myers Squibb Company (NYSE:BMY) is one of the top cheap pharmaceutical stocks to buy now. Morgan Stanley analyst Terence Flynn maintained a Sell rating on Bristol-Myers Squibb Company (NYSE:BMY) on August 1, keeping the associated price target at $34.00.

The analyst told investors that one of his primary concerns is the risk associated with the estimates for 2026 and beyond, as they appear overly optimistic.

He cited previous trial failures, reasoning that Bristol-Myers Squibb Company’s (NYSE:BMY) recent clinical trial site reviews may potentially result in a delay in data timelines, causing uncertainties about future trial success. This holds especially true for the Cobenfy ADEPT-2 Phase 3 trial.

Flynn added that Bristol-Myers Squibb Company’s (NYSE:BMY) revenue and earnings outlook for the coming years also warrants a cautious outlook. He expects the potential challenges stemming from patent expirations of mature products and the company’s new product portfolio to add to this cautious stance.

Bristol-Myers Squibb Company (NYSE:BMY) is a biopharmaceutical company that discovers, develops, and delivers advanced medicines for serious diseases. Its medicines fall into various therapeutic classes, including hematology, oncology, cardiovascular, immunology, and neuroscience.

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