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A number of firms have modified their ratings and price targets on shares of Bristol-Myers Squibb (NYSE: BMY) recently:

  • Bristol-Myers Squibb had its price target lowered by analysts at Citigroup Inc. from $60.00 to $55.00. They now have a “market perform” rating on the stock.
  • Bristol-Myers Squibb had its “overweight” rating reaffirmed by analysts at Barclays. They now have a $65.00 price target on the stock.
  • Bristol-Myers Squibb was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $55.00 price target on the stock, down previously from $60.00.
  • Bristol-Myers Squibb had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $60.00 price target on the stock. They wrote, “We found the nivo (PD-1) + Yervoy combo lung cancer data disappointing, but hope for slightly better data at ASCO when more mature (4 months longer?) data is disclosed. BMY’s nivo+ Yervoy data in 46 first-line patients showed an ORR (objective response rate) of 22% (confirmed + unconfirmed) by RECIST 1.1. “Since nivo 3 mg monotherapy in 2nd-line and later patients had shown a low-mid 20% response rate last fall, this initial early data seems to suggest that Yervoy may not add much to efficacy in lung cancer. That said, Bristol IR told us that management continues to feel confident about moving nivo + Yervoy combo into Ph 3 for lung cancer later this year.”
  • Bristol-Myers Squibb had its “outperform” rating reaffirmed by analysts at William Blair.
  • Bristol-Myers Squibb had its “outperform” rating reaffirmed by analysts at Leerink Swann. They now have a $62.00 price target on the stock.
  • Bristol-Myers Squibb had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $59.00 price target on the stock.

Shares of Bristol-Myers Squibb Co (NYSE:BMY) traded down 0.10% on Wednesday, hitting $48.71. 5,151,797 shares of the company’s stock traded hands. Bristol-Myers Squibb Co has a 52-week low of $41.11 and a 52-week high of $57.49. The stock’s 50-day moving average is $50.15 and its 200-day moving average is $52.0. The company has a market cap of $80.721 billion and a P/E ratio of 28.18.

Bristol-Myers Squibb Company (NYSE:BMY) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis.

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