Princeton, New Jersey-based Bristol-Myers Squibb Company (BMY) is one of the leading biopharmaceutical companies focused on developing treatments for diseases like cancer, inflammatory, immunologic, cardiovascular, and fibrotic diseases. With a market cap of $96.5 billion, Bristol-Myers’ operations span various countries in the Americas, Europe, and the Indo-Pacific.

Companies worth $10 billion or more are generally described as “large-cap stocks.” BMY fits this bill perfectly. Given the company’s extensive operations and dominance in the pharma space, its valuation above this mark is unsurprising.

Despite its notable strengths, BMY stock prices have dropped 25% from its two-year high of $63.33 touched on Mar. 11. Over the past three months, BMY stock prices have dipped 1.2%, lagging behind the iShares U.S. Pharmaceuticals ETF’s (IHE) 8.9% uptick during the same time frame.

Over the longer term, BMY stock prices have plunged 16% on a YTD basis and nearly 6% over the past 52 weeks, underperforming IHE’s 8.5% gains in 2025 and 1.5% dip over the past year.

To confirm the bearish trend, BMY stock has traded mostly below its 50-day moving average since early April, with some fluctuations lately. Moreover, the stock has also remained consistently below its 200-day moving average since April.

Despite reporting better-than-expected results, Bristol-Myers Squibb’s stock prices plunged 5.8% in a single trading session following the release of its Q2 results on Jul. 31. The company's legacy portfolio’s revenues have remained under constant pressure due to generic erosion, leading to a 14% decrease in sales to $5.7 billion. However, its growth portfolio’s sales soared 18% year-over-year to $6.6 billion. Overall, the company’s revenues came in at $12.3 billion, up 56 bps year-over-year and 7.7% ahead of expectations. Meanwhile, BMY’s adjusted EPS declined 29.5% year-over-year to $1.46, but surpassed the consensus estimates by a staggering 36.5%.

The sell-off resulted from BMY lowering its full-year adjusted EPS guidance from the previous range of $6.70-$7 to $6.35-$6.65, falling significantly below the consensus estimates.

On a positive note, BMY has outperformed its peer, Regeneron Pharmaceuticals, Inc.’s (REGN) 20.9% plunge in 2025 and 51.8% decline over the past year.

Among the 27 analysts covering the BMY stock, the overall consensus rating is a “Hold.” Its mean price target of $52.28 represents a 10.1% premium to current price levels.