Bristol Myers (BMY) Offering Possible 16.01% Return Over the Next 10 Calendar Days

Bristol Myers's most recent trend suggests a bullish bias. One trading opportunity on Bristol Myers is a Bull Put Spread using a strike $60.00 short put and a strike $55.00 long put offers a potential 16.01% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $60.00 by expiration. The full premium credit of $0.69 would be kept by the premium seller. The risk of $4.31 would be incurred if the stock dropped below the $55.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Bristol Myers is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Bristol Myers is bullish.

The RSI indicator is at 30.23 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Bristol Myers

AbbVie’s Rinvoq Beats Bristol-Myers’ Orencia In New Rheumatoid Arthritis DatA
Mon, 08 Jun 2020 06:49:31 +0000
Biopharma AbbVie (ABBV) has announced positive Phase 3 data from a Select-Choice clinical trial, comparing Rinvoq (upadacitinib, 15 mg, once daily) to Bristol-Myers Squibb’s (BMY) Orencia (abatacept) in adults with moderate-to-severe active rheumatoid arthritis (RA).The trial focused on patients with a prior inadequate response or intolerance to biologic disease-modifying anti-rheumatic drugs (DMARDs).Rinvoq met the primary endpoint of non-inferiority versus Orencia on change from baseline in Disease Activity Score 28 C-Reactive Protein (DAS28-CRP) at week 12.It also met the key secondary endpoints of superiority versus Orencia on change from baseline in DAS28-CRP at week 12 and proportion of patients achieving clinical remission at week 12 as measured by DAS28-CRP<2.6.This was the sixth and final Phase 3 study from the robust Select rheumatoid arthritis clinical trial program.Rinvoq, Abbvie’s selective and reversible JAK inhibitor, was approved by both the FDA and Europe in 2019 for rheumatoid arthritis.“Despite tremendous progress in the treatment of rheumatoid arthritis, about 70 percent of patients are still not achieving clinical remission with established therapies,” commented Michael Severino, M.D., vice chairman and president, AbbVie.The results “add to our growing body of evidence that RINVOQ may offer more adult patients with rheumatoid arthritis a better chance at achieving clinical remission, including those who have already failed a prior biologic” he added.The safety profile of Rinvoq was consistent with previously reported studies in rheumatoid arthritis, with no new safety risks detected. Through week 24, serious adverse events occurred in 3.3% of Rinvoq patients, compared to 1.6% of Orencia patients, the company said.Shares in ABBV are currently trading up 6% year-to-date, and analysts have a bullish Strong Buy outlook on the stock with 8 recent buy ratings vs 2 hold ratings. The average analyst price target of $104 translates into 11% upside potential from current levels. (See ABBV stock analysis on TipRanks)On June 2 Argus Resarch’s David Toung upgraded AbbVie to Buy with a $115 price target. He called the recent Allergan merger a meaningful catalyst, “diversifying [AbbVie’s] revenue and substantially expanding its product portfolio.”Related News: Emergent Bio Plunges 14% Post-Market After Directors Divest Shares Teva Wins Court Ruling Against Opiant, Emergent Bio On Narcan Nasal Spray 5 Promising Covid-19 Vaccines Picked For Trump’s Operation Warp Speed More recent articles from Smarter Analyst: * Oxford Biomedica Clinches Manufacturing Deal For AstraZeneca’s Covid-19 Vaccine * Vale SA Forced To Shutter Itabira Mines; Analyst Sees The Bright Side * Grubhub Shares Lifted On Report Of European Acquirers Lining Up   * Alnylam Reveals Solid Lumasiran Results; Analyst Says Dicerna Better Pick

AstraZeneca Reportedly Talked to Gilead About a Merger. Why There’s Reason to Be Skeptical.
Sun, 07 Jun 2020 19:44:00 +0000
If completed, the merger would be the biggest health-care deal ever, but at least one analyst is skeptical in part because Gilead sees its stock as undervalued by the market.

3 Top Biotech Stocks to Buy in June
Sat, 06 Jun 2020 16:29:00 +0000
Investors seeking to beat the market should take a long and hard look at biotech stocks. Here are three top biotech stocks that I think are great picks to buy in June. There's too much to like about Vertex Pharmaceuticals (NASDAQ: VRTX) for it not to top the list.

Bristol-Myers (BMY) Up 0.5% Since Last Earnings Report: Can It Continue?
Sat, 06 Jun 2020 15:31:03 +0000
Bristol-Myers (BMY) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Bristol-Myers Squibb (BMY) Gains As Market Dips: What You Should Know
Thu, 04 Jun 2020 21:45:09 +0000
In the latest trading session, Bristol-Myers Squibb (BMY) closed at $60.89, marking a +1.13% move from the previous day.

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