Credit Suisse Maintains Their Hold Rating on Bristol Myers (BMY)
In a report released today, Vamil Divan from Credit Suisse maintained a Hold rating on Bristol Myers (BMY), with a price target of $59. The company’s shares opened today at $51.67.
According to TipRanks.com, Divan is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.1% and a 40.7% success rate. Divan covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Aimmune Therapeutics, and Johnson & Johnson.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bristol Myers with a $56.50 average price target, a 9.3% upside from current levels. In a report issued on February 11, Guggenheim also maintained a Hold rating on the stock.
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Based on Bristol Myers’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.97 billion and net profit of $1.19 billion. In comparison, last year the company earned revenue of $5.45 billion and had a GAAP net loss of $2.33 billion.
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Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.