Bristol Myers Squibb (BMY) stock was down on Friday after the biopharmaceutical company announced its acquisition of private biotechnology company Orbital Therapeutics. Orbital Therapeutics is developing a new generation of RNA medicines that are capable of reprogramming the immune system in vivo.
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Bristol Myers Squibb noted that this deal includes Orbital Therapeutics’ lead RNA immunotherapy preclinical candidate, OTX-201. The company noted that there’s strong potential for this candidate as it allows a patient’s own body to develop CAR T-cells, as compared to ex vivo CAR T-cell therapies. Bristol Myers Squibb Chief Research Officer Robert Plenge noted, “This acquisition enhances our robust cell therapy research platform and provides an opportunity to advance a potential best-in-class therapy designed to deplete autoreactive B cells and reset the immune system.”
Bristol Myers Squibb has agreed to pay $1.5 billion for Orbital Therapeutics. However, it first has to wait for customary closing conditions to be completed. Once they are, the company will determine if the deal will be handled as a business combination or asset acquisition. Until then, both companies will continue to operate independently.
Bristol Myers Squibb Stock Movement Today
Bristol Myers Squibb stock dropped 1.54% on Friday, extending an 18.08% decline year-to-date. Investors will also note that the company’s shares have fallen 14.41% over the past 12 months. BMY stock has faced several headwinds in 2025, including drug trial setbacks, competition from generic drug makers, and other economic factors.
Is Bristol Myers Squibb Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Bristol Myers Squibb is Hold, based on five Buy, 14 Hold, and a single Sell rating over the past 12 months. With that comes an average BMY stock price target of $50.93, representing a potential 15.64% upside for the shares.
