Berenberg Downgrades Bristol-Myers Squibb Co. (BMY) to Hold
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Berenberg downgraded Bristol-Myers Squibb Co. (NYSE: BMY) from Buy to Hold with a price target of $70.00.
Analyst Laura Sutcliffe commented, "One of the key risks to the short-term Buy case for Bristol has crystallised. Following the failure of CheckMate 026 – which evaluated IO drug Opdivo as monotherapy in first-line NSCLC in PD-L1 positive patients – we downgrade our recommendation for Bristol from Buy to Hold. While a lack of success in this particular trial has no impact on about half of Bristol’s IO opportunity, it affects the NSCLC space as a whole, and places Bristol on the back foot in a market where it has, up until now, dominated."
Shares of Bristol-Myers Squibb Co. closed at $60.58 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- Mizuho Securities Raises Price Target on Noble Energy (NBL) to $48; Reiterates Buy
- Deutsche Bank Starts Bruker (BRKR) at Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!