Shares of Bristol Myers Squibb Co. BMY rallied 1.86% to $50.94 Tuesday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.25% to 5,732.93 and the Dow Jones Industrial Average DJIA rising 0.20% to 42,208.22. This was the stock's third consecutive day of gains.

In the assessment of 12-month price targets, analysts unveil insights for Bristol-Myers Squibb, presenting an average target of $46.0, a high estimate of $53.00, and a low estimate of $41.00. Witnessing a positive shift, the current average has risen by 0.26% from the previous average price target of $45.88.

Bristol Myers Squibb Company BMY is experiencing a good run of late after touching a 52-week low of $39.35 on July 5. This short rally has given anxious investors a ray of hope. The biotech giant has been facing a few challenges for quite some time now.

Shares of Bristol Myers Squibb Co. BMY shed 1.00% to $49.49 Tuesday, on what proved to be an all-around mixed trading session for the stock market, with the S&P 500 Index SPX rising 0.03% to 5,634.58 and the Dow Jones Industrial Average DJIA falling 0.04% to 41,606.18. The stock's fall snapped a two-day winning streak.

Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait.