Bristol-Myers Squibb Company (NYSE:BMY) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products around the world. The company had a trading volume of 2,179,996 shares.
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On 29 September, General Electric Company (NYSE:GE) said that, it expects its software revenue to roughly triple to $15 billion (9.9 billion pounds) by 2020 as it reaps significant gains from its digital operations, the USA industrial conglomerate said on Tuesday. Following the completion of the transaction, the director now owns 546,874 shares in the company, valued at $32,484,315.60. The $70.67 average target is 12.95% above today’s ($62.57) stock price. Bristol Myers Squibb Company Reported earnings before interest, taxes, debt and amortization (EBITDA) is 4.63B. In the near term, the target price could hit a high of $78 and a low of $ 55. BMO Capital Markets reaffirmed a buy rating and set a $82.00 price objective (up previously from $75.00) on shares of Bristol-Myers Squibb in a research report on Monday, July 20th.
Analysts await Bristol-Myers Squibb Co (NYSE:BMY) to reports earnings on October, 27 before the open.
So what: Although an extended research agreement with a Big Pharma like Bristol is noteworthy in and of itself for a tiny biotech, the real reason Five Prime’s shares are screaming higher today is because the company will receive an upfront payment of $350 million, per the terms of this deal.
“Bristol-Myers Squibb has undisputed leadership in the immuno-oncology landscape, deep clinical development and regulatory expertise, and an established commercial infrastructure to deliver important new therapies to patients”, he said in a statement.
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Not only is Five Prime’s stock soaring, but Bristol-Myers’ stock is seeing an increase as well. During the year, the down level at which share price traded is $1.73 and peak level is recorded at $6.28. During the same period in the previous year, the company earned $0.48 EPS. This represents a $1.48 dividend on an annualized basis and a yield of 2.38%. The total value of the transaction was worth $1,411,720. Shareholders who purchased BMY prior to the ex-dividend date are eligible for the cash dividend payment. The Company’s products are sold to wholesalers, retail pharmacies, hospitals, government entities and the medical profession. The Business makes its products in six foreign nations and in the United States, Puerto Rico. The Organization encourages the utilization of its own products directly to healthcare professionals and suppliers, for example physicians, nurse practitioners, physician assistants, pharmacists, technologists, hospitals, Pharmacy Benefit Managers (PBMs) and Managed Care Organizations (MCOs). Additionally, the Company holds rights to F001287, which is a preclinical, little-molecule IDO1 inhibitor.
