Bristol claims victory in crucial immunotherapy trial, but results raise some questions

Ebony Scott
February 11, 2018

The company's net earnings from the same period of the year prior was $894 million.

Bristol-Myers Squibb Company (BMY) shares are down -1.2% for the week and that has got investors and traders sitting up and taking note.

Summit Financial Wealth Advisors LLC reduced its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 28.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. Analysts were expecting revenue of $5.35 billion. The biopharmaceutical company reported $0.68 EPS for the quarter, beating the Zacks' consensus estimate of $0.67 by $0.01.

Xylem Inc. (NYSE:XYL)'s earnings per share has been growing at a -0.8 percent rate over the past 5 year when average revenue increase was noted as -0.2 percent. The cost of products sold was $1.67 billion, up 21%. Janus Henderson Group PLC grew its stake in Bristol-Myers Squibb by 2,990.5% in the 2nd quarter.

Eliquis sales jumped 46% for the year to $4.87 billion, with $2.88 billion of the haul coming from the U.S. The results come as BMS battles neck and neck with Johnson & Johnson and Bayer for market dominance with their new anticoagulants.

For the year, the company reported profit of $1.01 billion, or 61 cents per share. However, this loss was due to a one-time $3 billion transitional impact from US tax reform. Xact Kapitalforvaltning AB grew its holdings in shares of Bristol-Myers Squibb by 3.4% in the 2nd quarter.

Bristol-Myers Squibb Company (NYSE:BMY) closed February 02 at $63.48, down -3.96% or $2.62 from its record high price of $66.1. Analysts' estimates typically exclude special items. BMS stated that the combo of the two immuno-oncology (I-O) drugs met its co-primary endpoint of progression-free survival (PFS) in patients with high TMB, regardless of PD-L1 expression. In addition to these important findings, a second part of the trial, which is assessing overall survival with the Opdivo plus Yervoy combination, is continuing as planned. TMB is being evaluated using Foundation Medicine's (NASDAQ:FMI) FoundationOne CDx assay.

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Bristol-Myers Squibb Company (NYSE:BMY) closed its last session at $63.48.

Research and development expenses increased 37% to $1.9 billion in the quarter primarily due to license and asset acquisition charges of $377 million in the fourth quarter of 2017. The institutional investor held 15,566 shares of the agricultural chemicals company at the end of 2017Q3, valued at $1.87 million, down from 35,666 at the end of the previous reported quarter.

That's good news for shareholders for a couple of reasons. The company continues to be well positioned to keep those dividends flowing.

Bristol-Myers Squibb is a differentiated company, led by their unique BioPharma strategy that leverages the reach and resources of a major pharma company paired with the entrepreneurial spirit and agility of a biotech firm. Revenue from the company's Hepatitis C franchise fell 74% to $59 million and revenue from the company's Reyataz franchise, which treats HIV, fell 31% to $143 million. This showed a surprise of -2.6% in the last quarter earnings. Bristol-Myers Squibb Company (NYSE:BMY) is 7.26% above its 200-day moving average, providing a measure of resistance for long positions.

In November, at the Society for Immunotherapy of Cancer Annual Meeting, the company announced results from studies evaluating BMS-986205, an investigational IDO1 inhibitor, and cabiralizumab (FPA008), an investigational anti-CSF-1 receptor antibody, in combination with Opdivo. Those results bode well for sustained growth for Opdivo, which is on track to become the No. 2 best-selling cancer drug in the world over the next few years. The stock of Bristol-Myers Squibb Company (NYSE:BMY) earned "Underweight" rating by Piper Jaffray on Monday, August 24.

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Parkside Fincl Bank And Tru reported 0.47% in Bristol-Myers Squibb Company (NYSE:BMY). Evaluating stocks to buy and sell can be a tricky business, even with all of the data available at your fingertips. The Motley Fool has a disclosure policy. The Motley Fool has no position in any of the stocks mentioned.

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