Actually, Vanlev was considered to be a "billion dollar" drug.
And here's a smattering of analyst views, some defending, others cutting.
I guess its just hard for me to generalize from something like this, or the ETYS, or the JWEB thing that:
"Analysts are scum".
In your opinion, do the firms they represent always front run their calls? BTW, I'm not attempting to "argue", but just to gain some insight.
In my experience (not nearly as long as yours), WS analysts tend to be right as much as wrong. But one thing seems certain. When a call is made (up or down), the "rush" to get in or out by day-traders can cause wild price swings that can hurt investors who aren't as quick to the trigger.
Apr 20 2000 4:48PM
Bristol-Myers Squibb Co (BMY) JPMS Carl Seiden ii-3 Morning
decrease rating; decrease earnings ests.; Vanlev's delay kills near-term catalyst -- LONG-TERM BUY
Apr 20 2000 12:45PM
Bristol-Myers Squibb Co (BMY) BTAB Barbara Ryan, Beth Cariello, Jason Yeung wsj-maee-3 Morning
maintain rating; "pulled its Vanlev filing; recommend investors hold the stock rather than sell into the panic" -- BUY
Apr 20 2000 11:27AM
Bristol-Myers Squibb Co (BMY) BTAB Barbara Ryan, Beth Cariello, Jason Yeung wsj-maee-3 Morning
maintain rating; decrease earnings ests.; "likely 1+ year delay in Vanlev" -- BUY
Apr 20 2000 11:25AM
Bristol-Myers Squibb Co (BMY) BEST Joseph Riccardo ii-RU,wsj-bsp-3 Morning
reiterate rating; decrease earnings ests. -- BUY
Apr 20 2000 10:54AM
Bristol-Myers Squibb Co (BMY) COWN Stephen Scala ii-RU Morning
Vanlev a commercial disappointment; "buy on weakness, reports today, could be upside" -- BUY
Apr 20 2000 10:29AM
Bristol-Myers Squibb Co (BMY) CIBC Goldstein Morning
decrease rating; target $60; "Vanlev's delay is a disappointment" -- B
Apr 20 2000 9:36AM
Bristol-Myers Squibb Co (BMY) MSDW Jami Rubin ii-2 Morning
decrease rating; "Though far from dead, Vanlev' s future is clouded, in our view" -- OUTPERFORM
Apr 20 2000 9:33AM
Bristol-Myers Squibb (BMY) SBSH Christina Heuer ii-RU Morning
decrease rating; "BMY pulled its NDA for Vanlev" -- 3H
Apr 20 2000 8:56AM
Bristol-Myers Squibb Co (BMY) GSCO Cynthia Beach, Timothy O'Reilly Morning
decrease earnings ests.; BMY has withdrawn the FDA application for Vanlev, for high blood pressure -- MARKET PERFORMER
Apr 20 2000 8:24AM
Bristol-Myers Squibb Co (BMY) PWJC Jeff Chaffkin, Christopher Sylvester, Parker wsj-bsp-2;wsj-maee-4 Morning
decrease rating; decrease earnings ests.; "a clear negative surprise, bristol withdraws Vanley (hypertension) drug application from the FDA" -- NEUTRAL
Apr 20 2000 8:17AM
Bristol-Myers Squibb Co (BMY) FBCO James Kelly wsj-bsp-1 Morning
decrease rating; Vanlev NDA withdrawn -- HOLD
Apr 20 2000 8:02AM
Bristol-Myers Squibb Co (BMY) LEHM C Anthony Butler Morning
"Vanlev FDA filing is withdrawn" -- 2-OUTPERFORM
Apr 20 2000 7:17AM
Bristol-Myers Squibb Co (BMY) MLCO Steven Tighe, W Holman ii-1,wsj-maee-1 Morning
"Vanlev: Intubated for Now"; target $57 -- A-2-1-7 |
