10 Best Undervalued Stocks to Buy According to Billionaires

7. Bristol-Myers Squibb Company (NYSE:BMY)

Number of Billionaire Investors: 17; Holdings: $1.9 Billion

Number of Hedge Fund Holders: 88

Forward P/E: 8.8

Bristol-Myers Squibb Company (NYSE:BMY) is a global biopharmaceutical company focused on discovering, developing, and delivering innovative medicines for serious diseases. The company specializes in oncology, immunology, cardiovascular, neuroscience and haematology therapies.

In early February, Leerink Partners analyst David Risinger reiterated a Buy rating on Bristol-Myers Squibb Company (NYSE:BMY), citing strong long-term prospects. As per him, while the Phase 3 trial for Opdualag in adjuvant melanoma treatment did not meet its primary endpoint, the company’s overall outlook remains positive. The analyst sees significant opportunity in the adjuvant market and highlights Bristol-Myers’ robust pipeline, with multiple catalysts expected between 2025 and 2027. Despite the trial setback, he believes it does not materially change the bullish case for BMY, given the company’s strong research and development efforts.