
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.