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Fly News Breaks for April 18, 2018
BMY
Apr 18, 2018 | 09:31 EDT
BMO Capital analyst Alex Arfaei lowered his price target on Bristol-Myers to $47, saying the "significant headwinds" faced by its key growth driver cancer drug Opdivo will not offset the above-consensus view for Eliquis. Arfaei further notes that CM-227 study may not produce superior data in the second half of this year, and the CM-9LA readout is not expected until the second half of 2019. The analyst keeps his Underperform rating on Bristol-Myers.