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BMY

Bristol-Myers

$46.84 /

-0.28 (-0.59%)

, CELG

Bought by BMY

$95.45 /

-0.06 (-0.06%)

07:34
05/20/19
05/20
07:34
05/20/19
07:34

Bristol-Myers downgraded to Hold from Buy at Argus

As previously reported, Argus analyst David Toung downgraded Bristol-Myers (BMY) to Hold from Buy, saying he has "serious concerns" about the company's growth prospects after its announced acquisition of Celgene (CELG). The analyst contends that Celgene's pipeline is not sufficient to offset the expected decline in revenues from its Revlimid, which will lose exclusivity in 2026. Toung adds that Bristol-Myers' "patent cliff" is also notable with loss of exclusivity expected for Opdivo in 2028, Eliquis in 2026, and Orencia in 2021. While the stock trades at 10.5-times forward earnings multiple - a discount to the 12-times peer group average - the analyst believes the valuation is appropriate.

BMY

Bristol-Myers

$46.84 /

-0.28 (-0.59%)

CELG

Bought by BMY

$95.45 /

-0.06 (-0.06%)

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BMY Bristol-Myers
$46.84 /

-0.28 (-0.59%)

05/20/19 Argus
Bristol-Myers downgraded to Hold from Buy at Argus
05/03/19 JPMorgan
Bristol-Myers reinstated with an Overweight at JPMorgan
05/03/19 Barclays
Celgene downgraded to Equal Weight from Overweight at Barclays
05/03/19 Barclays
Bristol-Myers upgraded to Overweight from Equal Weight at Barclays
CELG Bought by BMY
$95.45 /

-0.06 (-0.06%)

05/07/19 Piper Sandler
Sutro regaining U.S. rights from Celgene a 'clear positive,' says Piper Jaffray

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