Goldman Sachs Maintains Buy on Bristol-Myers Squibb (BMY)

Goldman Sachs is out with its report today on Bristol-Myers Squibb BMY, maintaining Buy. In a note to clients, Goldman Sachs writes, "After the market close today, Bristol Myers announced that the long-awaited 024 Phase III trial which studied ipilimumab in first-line metastatic melanoma met its primary endpoint. Full results will be presented at ASCO in June 2011. As a reminder, this follows positive 020 Phase III trial second-line results in June 2010, for which the FDA action date is Mar-26. We maintain our estimates, Buy rating and 12-month price target." At the time of posting, shares of BMY were trading at $26.72, up 2.77% from Monday's close.