Goldman Sachs Maintains Bullish Stance on Bristol-Myers (BMY) Following ASCO
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Price: $46.05 -1.71%
Rating Summary:
8 Buy, 7 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
8 Buy, 7 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade BMY Now!
Shares of Bristol-Myers Squibb Co. (NYSE: BMY) fractionally higher Monday following several positive data sets on its anti-PD1 BMS-936558 at ASCO.
Analysts at Goldman Sachs were encouraged by the data.
"We walked away with a more reinforced view that this could be a multibillion-dollar blockbuster not reflected in consensus/GS estimates," the analyst said.
The firm notes Phase III is starting soon for NSCLC, RCC, and later in 2012/early 2013 for melanoma. They said response rates and duration were also highly positive, particularly in patients who received many rounds of prior therapy. Also, the safety/tolerability profile appears better than Yervoy, although three drug-related deaths (pneumonitis) sparked some concern.
Goldman Sachs reiterated their Buy rating and $37 price target price target of $37.00
For an analyst ratings summary and ratings history on Bristol-Myers Squibb Co. click here. For more ratings news on Bristol-Myers Squibb Co. click here.
Shares of Bristol-Myers Squibb Co. closed at $33.33 yesterday, with a 52 week range of $25.69-$35.44.
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Analysts at Goldman Sachs were encouraged by the data.
"We walked away with a more reinforced view that this could be a multibillion-dollar blockbuster not reflected in consensus/GS estimates," the analyst said.
The firm notes Phase III is starting soon for NSCLC, RCC, and later in 2012/early 2013 for melanoma. They said response rates and duration were also highly positive, particularly in patients who received many rounds of prior therapy. Also, the safety/tolerability profile appears better than Yervoy, although three drug-related deaths (pneumonitis) sparked some concern.
Goldman Sachs reiterated their Buy rating and $37 price target price target of $37.00
For an analyst ratings summary and ratings history on Bristol-Myers Squibb Co. click here. For more ratings news on Bristol-Myers Squibb Co. click here.
Shares of Bristol-Myers Squibb Co. closed at $33.33 yesterday, with a 52 week range of $25.69-$35.44.
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