Top 500 by Trading Volume BMY Rebounds on Growth Portfolio Faces EPS Guidance Cut

On August 6, 2025, Bristol-Myers Squibb (BMY) fell 2.25% to $44.82, closing with a daily trading volume of $510 million. The stock has rebounded 6.7% since hitting a 52-week low of $42.96 on July 31, following its second-quarter earnings report. While the company raised 2025 revenue guidance to $46.5–$47.5 billion due to strong performance in its Growth Portfolio and favorable foreign exchange impacts, it cut adjusted EPS guidance to $6.35–$6.65 from $6.70–$7. This revision, attributed to a $200 million charge from the BioNTech acquisition, disappointed investors.

BMY’s Growth Portfolio, including Opdivo, Reblozyl, Breyanzi, and Camzyos, drove $6.6 billion in sales, up 18% year-over-year. Opdivo’s subcutaneous formulation (Qvantig) showed robust demand, while Reblozyl exceeded $1 billion in annual sales. Breyanzi and Camzyos saw 125% and 87% revenue growth, respectively. New therapies like Cobenfy, approved for schizophrenia, added $62 million in year-to-date sales. These advancements offset declines in the Legacy Portfolio, which fell 14% to $5.67 billion due to generic competition and Medicare Part D redesign impacts. Eliquis, a key legacy asset, posted 8% growth despite the broader decline.

Strategic collaborations strengthened BMY’s pipeline. A partnership with BioNTech targets bispecific antibodies for solid tumors, while a $300 million joint venture with Bain Capital focuses on autoimmune therapies. The company also licensed OncoACP3 from Philochem for prostate cancer treatment. Despite these moves, BMY’s stock underperformed the S&P 500 and its industry peers, with a 18.9% year-to-date decline. Its forward P/E ratio of 7.48 remains below the large-cap pharma industry average of 14.46, suggesting undervaluation. Analysts note that while growth drivers are intact, generic pressures and recent guidance cuts warrant caution.

The strategy of purchasing the top 500 stocks by daily trading volume and holding them for one day delivered a 166.71% return from 2022 to the present, outperforming the benchmark return of 29.18% by 137.53%. This underscores the role of liquidity concentration in short-term stock performance, particularly in volatile markets.