Deutsche Bank Has Buy Rating On Bristol-Myers Squibb (BMY)
Deutsche Bank has a Buy rating and a $31.50 price target on shares of Bristol-Myers Squibb BMY.
In a note to investors, Deutsche Bank writes, "BMY issued a brief press release today stating that ipilimumab (ipi) has met the primary endpoint of improving overall survival in the phase 3 '024 trial of previously-untreated patients with metastatic melanoma. The '024 study compared overall survival with first line treatment utilizing ipi at 10mg/kg in combination with chemotherapy (dacar-
bazine) vs. chemo alone, in patients with unresectable stage III or stage IV
melanoma. Secondary outcome measures included progression-free survival, safety, and duration of response. The trial results will be submitted for
presentation at ASCO meeting in early June."
Shares of BMY gained $1.12 in after-hours trading yesterday to close at $27.12, a gain of 4.3%.
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