Domestic Manufacturing Boom: 12 Best Pharma Stocks to Invest in Now

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

Number of Hedge Fund Holders: 88

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.

On May 5, Bristol-Myers Squibb Company (NYSE:BMY) CEO Christopher Boerner wrote that the company has plans to spend $40 billion in the US over the next five years. This investment plan is expected to strengthen the company’s presence in the country and increase its radiopharmaceutical manufacturing. It also plans to invest in machine learning and AI to significantly boost the pace of innovation of its programs.

On April 30, Piper Sandler raised the firm’s price target on Bristol-Myers Squibb Company (NYSE:BMY) to $66 from $65, keeping an Overweight rating on the shares. The firm is updating its model after its recent earnings release for fiscal Q1 2025. Most of the upward revisions to its sales estimates stem from Bristol-Myers Squibb Company’s (NYSE:BMY) legacy business. The company takes the fifth spot on our list of the best pharma stocks to buy now in the wake of the domestic manufacturing boom.

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