Raymond James Keeps a Buy Rating on Bristol Myers (BMY)

Raymond James analyst Dane Leone maintained a Buy rating on Bristol Myers (BMY) today. The company’s shares closed last Friday at $59.49.

According to TipRanks.com, Leone is a 5-star analyst with an average return of 14.0% and a 64.4% success rate. Leone covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, Ayala Pharmaceuticals, and Voyager Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bristol Myers with a $69.40 average price target, implying a 19.1% upside from current levels. In a report issued on September 22, William Blair also maintained a Buy rating on the stock.

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Based on Bristol Myers’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $10.13 billion and GAAP net loss of $85 million. In comparison, last year the company earned revenue of $6.27 billion and had a net profit of $1.43 billion.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BMY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. The firm offers 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.

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