Company Update (NYSE:BMY): European Medicines Agency Validates Bristol-Myers Squibb’s Application for Opdivo® (nivolumab) for the Treatment of Classical Hodgkin Lymphoma Patients

[Business Wire] – Bristol-Myers Squibb Company announced today that the European Medicines Agency validated a type II variation application, which seeks to extend the current indications for Opdivo to include the treatment of patients with classical Hodgkin lymphoma after prior therapies. Read more on this. Bristol-Myers Squibb Company (BMY) , valued at $105.91B, began trading this morning at $63.96. Today, shares have traded between $63.20 and $64.16 per share and has traded between $51.82 and $70.87 over the past 12 months. Bristol-Myers Squibb (BMY) shares are currently priced at 26.37x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.78x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.52 per share annually in dividends, yielding 2.43%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $0.63 per share, which would be $0.08 worse than the year-ago quarter and a $0.02 sequential increase. Investors should also note that the full-year EPS estimate of $2.38 is a $0.37 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.19 Billion. If realized, that would be a 3.71% increase over the year-ago quarter. In terms of ratings, 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 $72.43, which is 13.24% above where the stock opened this morning. See more in (NYSE:BMY) Similar Articles: Market Update (NYSE:BMY): Bristol-Myers Squibb Receives Two Positive CHMP Opinions for Opdivo® (nivolumab) for Patients with Previously Treated Advanced Non-Squamous Non-Small Cell Lung Cancer and Renal Cell Carcinoma Market Update (NYSE:BMY): REPEAT/ Bristol-Myers Squibb’s Opdivo (nivolumab) + Yervoy (ipilimumab) Regimen Receives Expanded FDA Approval in Unresectable or Metastatic Melanoma Across BRAF Status1 Market Update: Bristol-Myers Squibb Company (NYSE:BMY) – Bristol-Myers Squibb’s Opdivo (nivolumab) Recipient of Prix Galien USA 2015 Award for Best Biotechnology Product
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