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Jan 24, 2019
Bristol-Myers Squibb Withdraws FDA Application for Cancer Treatment

Bristol-Myers Squibb Withdraws FDA Application for Cancer Treatment

Bristol-Myers Squibb is withdrawing its FDA application for a drug combination to treat advanced lung cancer. The pharmaceutical giant says it pulled its application to combine Opdivo and Yervoy after discussions with the FDA.

Bristol, which announced a $74 billion acquisition of cancer drug maker Celgene earlier this month, will still seek approval for the combination for use by lung cancer patients with a different biomarker. The company also had better than expected Q4 results of $0.94 per share, nine cents above the Street's expectations. Revenue was $5.97 billion, in-line with estimates.

Related Ticker: BMY

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Allana's AvatarAllana|Expert

Financial analyst and market blogger with expertise in equity research, fundamental analysis, and macroeconomic trends. I regularly publish coverage on individual stocks, ETFs, and sector developments — combining rigorous financial analysis with clear, engaging writing for a broad investment audience.


BMY in upward trend: price may ascend as a result of having broken its lower Bollinger Band on October 05, 2026

BMY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In 24 of 35 cases where BMY's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are 69%.

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where BMY's RSI Oscillator exited the oversold zone, 16 of 30 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 53%.

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

Following a +3.87% 3-day Advance, the price is estimated to grow further. Considering data from situations where BMY advanced for three days, in 175 of 310 cases, the price rose further within the following month. The odds of a continued upward trend are 56%.

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on September 04, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on BMY as a result. In 44 of 91 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 48%.

BMY moved below its 50-day moving average on September 16, 2026 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for BMY crossed bearishly below the 50-day moving average on September 21, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 10 of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 67%.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BMY declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 53%.

The Aroon Indicator for BMY entered a downward trend on October 06, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

The Tickeron SMR rating for this company is 22 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of 42 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.848) is normal, around the industry mean (19.199). P/E Ratio (14.070) is within average values for comparable stocks, (34.793). BMY's Projected Growth (PEG Ratio) (17.786) is slightly higher than the industry average of (5.738). Dividend Yield (0.039) settles around the average of (0.025) among similar stocks. P/S Ratio (2.642) is also within normal values, averaging (4.033).

The Tickeron Price Growth Rating for this company is 50 (best 1 - 100 worst), indicating steady price growth. BMY’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is 65 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Seasonality Score of 75 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Profit vs. Risk Rating rating for this company is 84 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BMY’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 64, placing this stock worse than average.

Notable companies

The most notable companies in this group are Eli Lilly & Co (NYSE:LLY), Johnson & Johnson (NYSE:JNJ), ABBVIE (NYSE:ABBV), Merck & Co (NYSE:MRK), AstraZeneca PLC (NYSE:AZN), Amgen (NASDAQ:AMGN), Gilead Sciences (NASDAQ:GILD), Pfizer (NYSE:PFE), Bristol-Myers Squibb Co (NYSE:BMY), Biogen (NASDAQ:BIIB).

Industry description

The Major Pharmaceuticals industry includes companies that are involved in various processes of creating drugs to treat/prevent diseases. These companies engage in research, testing and manufacturing, as well as the distribution of pharmaceuticals into markets. Johnson & Johnson, Merck & Co., Inc., Pfizer Inc. and Novartis are among the largest companies in this category.

Market Cap

The average market capitalization across the Pharmaceuticals: Major Industry is 200.13B. The market cap for tickers in the group ranges from 4.8K to 1.06T. LLY holds the highest valuation in this group at 1.06T. The lowest valued company is NEWG at 4.8K.

High and low price notable news

The average weekly price growth across all stocks in the Pharmaceuticals: Major Industry was -3%. For the same Industry, the average monthly price growth was -7%, and the average quarterly price growth was 7%. NSRX experienced the highest price growth at 8%, while MIRA experienced the biggest fall at -18%.

Volume

The average weekly volume growth across all stocks in the Pharmaceuticals: Major Industry was -11%. For the same stocks of the Industry, the average monthly volume growth was 15% and the average quarterly volume growth was -8%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 27
P/E Growth Rating: 53
Price Growth Rating: 56
SMR Rating: 59
Profit Risk Rating: 64
Seasonality Score: 2 (-100 ... +100)
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General Information

a manufacturer of pharmaceuticals products

Industry PharmaceuticalsMajor

Industry
Pharmaceuticals Major
Address
Route 206 and Province Line Road
Phone
+1 609 252-4621
Employees
32500
Web
https://www.bms.com
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