Deutsche Bank Has Buy Rating On Bristol-Myers Squibb (BMY)

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%.