Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Bristol Myers Squibb Co / Equity Bottom-Up

<ul><li>Bristol-Myers Squibb reported its second quarter 2024 earnings showcasing continued execution of its long-term strategy aimed at fostering sustainable growth.</li><li>The company highlighted an 18% year over-year increase in its growth portfolio revenues, amounting to a 21% rise when excluding the impact of foreign exchange.</li><li>This bolstered growth originated largely from several marketed products gaining traction in the market.</li></ul>

Bristol-Myers Squibb reported its second quarter 2024 earnings showcasing continued execution of its long-term strategy aimed at fostering sustainable growth.The company highlighted an 18% year over-year increase in its growth portfolio revenues, amounting to a 21% rise when excluding the impact of foreign exchange.This bolstered growth originated largely from several marketed products gaining traction in the market.

Bristol-Myers Squibb: Will The Enhanced Focus on Cell Therapy and Innovative Cancer Treatments Pay Off? - Major Drivers

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Revolution Medicines, an American oncology-focused biotechnology company, has made considerable progress in developing therapies for patients with RAS-addicted cancers.</li>
<li>We launched coverage of the stock In November 2023 and added Revolution Medicines to our high conviction list of ideas.</li>
<li>RevMed shares has massively outperformed in 2024 with shares up ~92% YTD vs. a ~12% gain on the XBI. I established a $55 PT and see the valuation as full. </li>
</ul>


Revolution Medicines, an American oncology-focused biotechnology company, has made considerable progress in developing therapies for patients with RAS-addicted cancers.
We launched coverage of the stock In November 2023 and added Revolution Medicines to our high conviction list of ideas.
RevMed shares has massively outperformed in 2024 with shares up ~92% YTD vs. a ~12% gain on the XBI. I established a $55 PT and see the valuation as full. 


2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

<ul><li>It is clear from Bristol-Myers Squibb's first quarter 2024 earnings that the company has had a strong start to the year, even as it navigates some challenges.</li><li>The firm’s performance during this time showcased the strength and potential of its commercial portfolio and the progress it has made in advancing its pipeline.</li><li>Key brands such as Eliquis, Opdualag, Reblozyl, Yervoy, and Breyanzi have demonstrated significant strength, contributing to the company's overall performance.</li></ul>

It is clear from Bristol-Myers Squibb's first quarter 2024 earnings that the company has had a strong start to the year, even as it navigates some challenges.The firm’s performance during this time showcased the strength and potential of its commercial portfolio and the progress it has made in advancing its pipeline.Key brands such as Eliquis, Opdualag, Reblozyl, Yervoy, and Breyanzi have demonstrated significant strength, contributing to the company's overall performance.

Bristol-Myers Squibb Company: A Deep Dive Into The Progress Of Its Clinical Portfolio! - Major Drivers

<ul><li>Bristol-Myers Squibb (BMS) reported a strong fourth quarter for 2023 with sales momentum in both their established and new product portfolios, showing a growth of 9% and earning nearly $10 billion in revenue.</li><li>Multiple key brands, including Eliquis, Opdivo, Reblozyl, Opdualag, Breyanzi, Camzyos, and Sotyktu, contributed to this growth.</li><li>In addition, BMS generated significant cash flows from operations amounting to $4.3 billion.</li></ul>

Bristol-Myers Squibb (BMS) reported a strong fourth quarter for 2023 with sales momentum in both their established and new product portfolios, showing a growth of 9% and earning nearly $10 billion in revenue.Multiple key brands, including Eliquis, Opdivo, Reblozyl, Opdualag, Breyanzi, Camzyos, and Sotyktu, contributed to this growth.In addition, BMS generated significant cash flows from operations amounting to $4.3 billion.

Bristol-Myers Squibb: The Ongoing Growth Story Of Each Of Its Core Drugs! - Major Drivers

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Despite ongoing recovery and fading effect of the COVID-19, 2023 was not a smooth sailing for the healthcare companies. All the countries and sub-sectors did not perform equally.</li>
<li>As we are heading into 2024, let us look back on the performance of some of our global healthcare stocks recommended throughout 2023.</li>
<li>
<a href="https://www.smartkarma.com/entities/lianbio" target="_blank" data-smartkarma-citation="entities:34478:1" rel="noopener">LianBio (LIAN US)</a> remained the best performer with 93% return in nearly eight months. <a href="https://www.smartkarma.com/entities/global-health-medanta" target="_blank" data-smartkarma-citation="entities:34649:1" rel="noopener">Global Health (Medanta) (MEDANTA IN)</a>, top pick for March 2023, generated 79% return in nine months.     </li>
</ul>


Despite ongoing recovery and fading effect of the COVID-19, 2023 was not a smooth sailing for the healthcare companies. All the countries and sub-sectors did not perform equally.
As we are heading into 2024, let us look back on the performance of some of our global healthcare stocks recommended throughout 2023.

LianBio (LIAN US) remained the best performer with 93% return in nearly eight months. Global Health (Medanta) (MEDANTA IN), top pick for March 2023, generated 79% return in nine months.     


2023 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

United States

Bristol-Myers Squibb Company is a global biopharmaceutical company. The Company develops, licenses, manufactures, markets, and sells pharmaceutical and nutritional products. Bristol-Myers Squibb products and experimental therapies address cancer, heart disease, HIV/AIDS, diabetes, rheumatoid arthritis, hepatitis, organ transplant  rejection, and psychiatric disorders.

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Bristol Myers Squibb Co (BMY US)

Bristol-Myers Squibb: Will The Enhanced Focus on Cell Therapy and Innovative Cancer Treatments Pay Off? - Major Drivers

Bristol-Myers Squibb reported its second quarter 2024 earnings showcasing continued execution of its long-term strategy aimed at fostering...

Baptista Research

2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

I remove Revolution Medicines stock from my high conviction list of ideas due to achieving a $55.00 price target and full valuation relative to peers.

Andrei Zakharov

Bristol-Myers Squibb Company: A Deep Dive Into The Progress Of Its Clinical Portfolio! - Major Drivers

It is clear from Bristol-Myers Squibb's first quarter 2024 earnings that the company has had a strong start to the year, even as it navigates some...

Baptista Research

Bristol-Myers Squibb: The Ongoing Growth Story Of Each Of Its Core Drugs! - Major Drivers

Bristol-Myers Squibb (BMS) reported a strong fourth quarter for 2023 with sales momentum in both their established and new product portfolios,...

Baptista Research

2023 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

Despite ongoing recovery and fading effect of the COVID-19, healthcare companies had varying performances in 2023. From my coverage, the top...

Tina Banerjee

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

Bristol-Myers Squibb: Will The Enhanced Focus on Cell Therapy and Innovative Cancer Treatments Pay Off? - Major Drivers

Bristol-Myers Squibb reported its second quarter 2024 earnings showcasing continued execution of its long-term strategy aimed at fostering...

Baptista Research

2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

I remove Revolution Medicines stock from my high conviction list of ideas due to achieving a $55.00 price target and full valuation relative to peers.

Andrei Zakharov

Bristol-Myers Squibb Company: A Deep Dive Into The Progress Of Its Clinical Portfolio! - Major Drivers

It is clear from Bristol-Myers Squibb's first quarter 2024 earnings that the company has had a strong start to the year, even as it navigates some...

Baptista Research

Bristol-Myers Squibb: The Ongoing Growth Story Of Each Of Its Core Drugs! - Major Drivers

Bristol-Myers Squibb (BMS) reported a strong fourth quarter for 2023 with sales momentum in both their established and new product portfolios,...

Baptista Research

2023 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

​Despite ongoing recovery and fading effect of the COVID-19, healthcare companies had varying performances in 2023. From my coverage, the top...

Tina Banerjee

Despite ongoing recovery and fading effect of the COVID-19, healthcare companies had varying performances in 2023. From my coverage, the top...