Piper Jaffray analyst Sean Wieland said Medidata (MDSO) reported "strong" revenue and earnings and contends that its deal with Bristol-Myers (BMY) offers more proof of the company's strong competitive positioning. Wieland, who sees the recent string of competitive wins setting up 2017 nicely and is more confident on Medidata's growth, raised his price target on the stock to $52 from $44.
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Reports Q1 revenue $11.9B, consensus $11.46B. "We had a good start to 2024, with revenue growth, important advances in our pipeline and the closure of several strategically important transactions. Our focus remains on strengthening the company's long-term growth profile. As a part of our continued evolution, we're executing a strategic productivity initiative that will allow us to be more agile, drive efficiency across the company, and prioritize investing in opportunities where we see the greatest potential to get the most promising medicines to patients as quickly as possible," said Christopher Boerner, Ph.D., board chair and chief executive officer, Bristol Myers Squibb. "