On Nov 13, major Wall Street analysts update their ratings for $Bristol-Myers Squibb (BMY.US)$, with price targets ranging from $60 to $73.
Citi analyst Geoff Meacham maintains with a hold rating, and adjusts the target price from $55 to $60.
UBS analyst Trung Huynh maintains with a hold rating, and adjusts the target price from $54 to $60.
BMO Capital analyst Evan Seigerman upgrades to a buy rating, and adjusts the target price from $53 to $61.
Leerink Partners analyst David Risinger upgrades to a buy rating, and adjusts the target price from $55 to $73.
Furthermore, according to the comprehensive report, the opinions of $Bristol-Myers Squibb (BMY.US)$'s main analysts recently are as follows:
The unexpected update regarding emraclidine's Phase 2 from AbbVie has led to a revision of projections, with emraclidine being removed from the forecast model and an increase in Cobenfy estimates for Bristol Myers. As a result, the total revenue for 2033 is anticipated to rise by 7%. The overall conclusion is that this development does not alter the long-term revenue or earnings per share growth trajectory for either company.
The pivotal Phase 2 data for a competing firm's schizophrenia treatment was unexpectedly unsuccessful in showing a significant change from the baseline in the Positive and Negative Symptom Scale total score, which was anticipated to be a key asset from a major acquisition and was projected to generate substantial sales by the end of the decade, potentially rivaling Bristol Myers's own treatment. The outlook for Bristol Myers's treatment should be considerably improved in the long term, although there are still concerns about the loss of exclusivity in the near term.
The latest clinical outcomes for AbbVie's Emraclidine, failing to demonstrate a statistically significant benefit at the primary endpoint in its Phase 2 studies, have positioned Bristol Myers' Cobenfy in a favorable spot. With competitors facing setbacks due to underwhelming data, the focus is now solely on Bristol Myers to successfully launch Cobenfy.
Here are the latest investment ratings and price targets for $Bristol-Myers Squibb (BMY.US)$ from 4 analysts:
Note:
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