Bullish options flow was detected in BMY stock for a second day.
Click here to download BMY’s options flow on November 27, 2019.
On November 27, 2019, Gabelli analyst Kevin Kedra initiated coverage of Bristol-Myers Squibb CVR (BMY-R) with a Buy rating and private market value estimate of $3.50. CVR holders will receive a $9.00 payout if all three of the FDA approval milestones are met, Kedra tells investors in a research note. The analyst sees an 80% probability for the ozanimod milestone, an 86% probability for JCAR017, and 68% probability for bb2121. He recommends the Bristol-Myers CVR as an attractive risk/reward opportunity with multiple near-term catalysts.
On November 25, 2019, in an interview on CNBC’s Mad Money, Bristol-Myers (BMY) CEO Giovanni Caforio said: We have a great pipeline and great people… We are positioned to succeed… Our position in cell therapy is one of the great programs we have right now… We recently announced a partnership with Fitbit (FIT)… We think we can grow through technology… The next frontier for growth is the early stage of cancer… We take a responsible approach to drug pricing, but we see a need for change in the system…Renewing our portfolio was really the rationale for acquiring Celgene (CELG).