William Blair Maintains a Buy Rating on Bristol Myers (BMY)

By Carrie Williams

In a report released yesterday, Matt Phipps from William Blair maintained a Buy rating on Bristol Myers (BMYResearch Report). The company’s shares closed last Tuesday at $58.76.

According to TipRanks.com, Phipps is a 1-star analyst with an average return of -1.9% and a 43.6% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Pieris Pharmaceuticals, and Atara Biotherapeutics.

Bristol Myers has an analyst consensus of Strong Buy, with a price target consensus of $70.83, implying a 22.6% upside from current levels. In a report issued on September 21, Raymond James also reiterated a Buy rating on the stock with a $78.00 price target.

See today’s analyst top recommended stocks >>

Based on Bristol Myers’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $10.13 billion and GAAP net loss of $85 million. In comparison, last year the company earned revenue of $6.27 billion and had a net profit of $1.43 billion.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BMY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. The firm offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.