Goldman Sachs Suggests Buying Calls on Bristol-Myers Squibb (BMY)

Goldman Sachs is out with a research note this morning, where it suggests that traders buy calls on Bristol-Myers Squibb BMY ahead of several data releases.

Goldman Sachs Pharma analyst, Jami Rubin, sees 6-8% upside potential for

BMY shares, driven by catalysts related to ipilimumab. Over the next month she expects BMY investors to focus on:

1. Ipilimumab in 2nd line metastatic melanoma (PDUFA March 26)
2. Ipilimumab in 1st line metastatic melanoma (data by end of 1Q2011)

The analysts also noted that long-term fundamentals also appear positive for BMY.

Goldman suggests buying the April $26.00 call for $0.39.

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of pharmaceutical products on a global basis. The company's products are sold worldwide, primarily to wholesalers, retail pharmacies, hospitals, government entities and the medical profession.