Bristol Myers boosts cancer drug portfolio with $4.1 billion Turning Point deal

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Go back to Bristol Myers boosts cancer drug portfolio with $4.1 billion Turning Point deal

Bristol Myers Squibb's Turning Point Offer Fair, Says Stifel

June 3, 2022 12:07 PM EDT

On Friday, it was announced that Bristol-Myers Squibb (NYSE: BMY) will acquire Turning Point Therapeutics (NASDAQ: TPTX) for $4.1 billion or $76 a share, more than double Thursday's closing price of $34.16.

Following the news, Stifel analyst Bradley Canino said the cash offer for... More

Citi Reiterates $90 PT on Bristol-Myers Squibb Co. (BMY), 'We expect some FTC scrutiny...but given the Pfizer/ Arena outcome, we remain hopeful'

June 3, 2022 11:39 AM EDT

Citi analyst Andrew Baum reiterated a Buy rating and $90.00 price target on Bristol-Myers Squibb Co. (NYSE: BMY)/

The analyst comments "PFEs ability to close the Arena deal with little FTC scrutiny, coupled with biotechs de-rating has unsurprisingly re-ignited M&A momentum with... More