Market Update (NYSE:BMY): European Commission Approves Bristol-Myers Squibb’s Opdivo® (nivolumab) for Previously Treated Advanced Renal Cell Carcinoma

[Business Wire] – Bristol-Myers Squibb Company announced today that the European Commission has approved Opdivo monotherapy for an additional indication in advanced renal cell carcinoma after prior therapy in adults. Read more on this. Bristol-Myers Squibb Company (BMY) , with a current value of $111.16B, began trading this morning at $65.76. Today, shares have traded between $65.76 and $67.14 per share and has traded between $51.82 and $70.87 over the past year. BMY shares are currently priced at 26.84x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -2.39x earnings multiple for the same period. The company pays shareholders $1.52 per share annually in dividends, yielding 2.34%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $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. 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 $72.43, which is 10.14% 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 Company Update (NYSE:BMY): Bristol-Myers Squibb Receives FDA Approval for Opdivo (nivolumab), the Only Treatment to Deliver Significant Overall Survival in Advanced Renal Cell Carcinoma vs. a Standard of Care, in Patients Who Have Received Prior Anti-Angiogenic Thera 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