The healthcare sector today was mostly bearish. One stock that has been particularly bearish over the last several days is Bristol-Myers Squibb (BMY). The stock is down from around $63.00 on October 9th to under $51.00 today. Part of this was due to the overall weakness in the healthcare sector, but compounding the decline is the fact that BMY is losing ground to Merck on first-line lung cancer treatment. For this reason and others, Citigroup downgraded the stock and gave it a $57 price target. Here’s a recap of what happened.

about the author:

Mike Patton

Mike Patton took the leap into the markets beginning as a commodities broker in 2005, where he was responsible for identifying trading opportunities and executing trades on behalf of clients. After years as a broker he made the jump to education by joining the team at Trading Advantage, now Prosper Trading Academy.

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