Market Update (NYSE:BMY): Bristol-Myers Squibb and AbbVie Receive Positive CHMP Opinion for Investigational Antibody, Empliciti (elotuzumab), for the Treatment of Multiple Myeloma in Patients Who Have Received at Least One Prior Therapy

[Business Wire] – Bristol-Myers Squibb Company and AbbVie today announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion recommending that Empliciti , an investigational immunostimulatory antibody, be granted approval for the treatment of multiple myeloma as combination therapy with Revlimid® and dexamethasone in patients who have received at least … Read more on this. Bristol-Myers Squibb Company (BMY) , valued at $102.95B, started the session at $61.65. During the trading session, BMY traded between $61.16 to $62.62 and has traded between $51.82 and $70.87 over the past year. Priced at 26.71x this year’s forecasted earnings, BMY shares are relatively expensive compared to the industry ’s -1.49x forward p/e ratio. And for dividend hunters, the company pays shareholders $1.52 per share annually in dividends, yielding 2.42%. Consensus earnings for the current quarter by the 11 sell-side analysts covering the stock is an estimate of $0.65 per share, which would be $0.06 worse than the year-ago quarter and a $0.06 sequential increase. The full-year EPS estimate is $2.29 which would be a $0.28 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.12 Billion. If realized, that would be a 1.98% increase over the year-ago quarter. More recently, Berenberg upgraded BMY from Hold to Buy (Jan 22, 2016). Previously, Piper Jaffray upgraded BMY from Underweight to Neutral. When considering if the stock is under or overvalued, the average price target is $74.20, which is 20.36% above where the stock opened this morning. See more in (NYSE:BMY) Similar Articles: Company Update: AbbVie Inc (NYSE:ABBV) – Bristol-Myers Squibb and AbbVie Receive FDA Approval of Empliciti™ (elotuzumab) for the Treatment of Patients with Multiple Myeloma Who Have Received One to Three Prior Therapies Stock Update: Bristol-Myers Squibb Company (NYSE:BMY) – Bristol-Myers Squibb to Present Data from Multiple Studies of Difficult-to-Treat Chronic Hepatitis C Patients at AASLD Company Update: Bristol-Myers Squibb Company (NYSE:BMY) – Bristol-Myers Squibb Launches Working Together for Patients, a Program Highlighting the Company’s Commitment to Patients