El interés en corto de Bristol-Myers Squibb da a los inversores una idea del grado en que los inversores apuestan por la caída de las acciones de Bristol-Myers Squibb. Los datos de interés en corto se actualizan cada dos semanas.

Bristol-Myers Squibb (NYSE:BMY) Bolsa, Informe de interés en corto

Bristol-Myers Squibb

Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is a leader in drug development. Bristol derives close to 70% of total sales from the US, showing a higher dependence on the US market than most of its peer group.

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Cinco acciones prometedoras que merecen atención según el Índice Stock Whisper

Bristol-Myers Squibb Company Common Stock

Bristol-Myers Squibb Co

BRISTOL-MYERS SQUIBB $2PR by Bristol-Myers Squibb Co.

BRISTOL MYERS SQUIBB ORD

Wolfe Research analyst Alexandria Hammond initiates coverage on Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Peer Perform rating.

News

Initiation

Analyst Ratings

Wolfe Research Initiates Coverage On Bristol-Myers Squibb with Peer Perform Rating

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BSX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>11/22/24</td>
<td>$87.00</td>
<td>$27.8K</td>
<td>600</td>
<td>3.0K</td>
</tr>
<tr>
<td>VKTX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/29/24</td>
<td>$70.00</td>
<td>$71.9K</td>
<td>2.1K</td>
<td>1.0K</td>
</tr>
<tr>
<td>ALT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$11.00</td>
<td>$41.8K</td>
<td>250</td>
<td>926</td>
</tr>
<tr>
<td>AMGN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$320.00</td>
<td>$376.7K</td>
<td>1.6K</td>
<td>760</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$65.00</td>
<td>$645.0K</td>
<td>1</td>
<td>750</td>
</tr>
<tr>
<td>CVS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$55.00</td>
<td>$112.1K</td>
<td>1.7K</td>
<td>726</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$100.00</td>
<td>$59.3K</td>
<td>445</td>
<td>431</td>
</tr>
<tr>
<td>HIMS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$23.00</td>
<td>$95.7K</td>
<td>4.2K</td>
<td>288</td>
</tr>
<tr>
<td>PTGX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$35.00</td>
<td>$38.1K</td>
<td>48</td>
<td>268</td>
</tr>
<tr>
<td>INCY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$67.50</td>
<td>$35.5K</td>
<td>1.1K</td>
<td>157</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For BSX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), we notice a put option sweep that happens to be neutral, expiring in 9 day(s) on November 22, 2024. This event was a transfer of 316 contract(s) at a $87.00 strike. This particular put needed to be split into 38 different trades to become filled. The total cost received by the writing party (or parties) was $27.8K, with a price of $88.0 per contract. There were 600 open contracts at this strike prior to today, and today 3045 contract(s) were bought and sold. 
• For VKTX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>), we notice a call option trade that happens to be bullish, expiring in 16 day(s) on November 29, 2024. This event was a transfer of 899 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $71.9K, with a price of $80.0 per contract. There were 2173 open contracts at this strike prior to today, and today 1039 contract(s) were bought and sold. 
• For ALT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALT#NASDAQ">ALT</a>), we notice a put option sweep that happens to be bullish, expiring in 2 day(s) on November 15, 2024. This event was a transfer of 416 contract(s) at a $11.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $41.8K, with a price of $100.0 per contract. There were 250 open contracts at this strike prior to today, and today 926 contract(s) were bought and sold. 
• Regarding AMGN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), we observe a call option sweep with bearish sentiment. It expires in 37 day(s) on December 20, 2024. Parties traded 352 contract(s) at a $320.00 strike. This particular call needed to be split into 46 different trades to become filled. The total cost received by the writing party (or parties) was $376.7K, with a price of $1070.0 per contract. There were 1630 open contracts at this strike prior to today, and today 760 contract(s) were bought and sold. 
• Regarding BMY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), we observe a put option trade with bullish sentiment. It expires in 275 day(s) on August 15, 2025. Parties traded 750 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $645.0K, with a price of $860.0 per contract. There were 1 open contracts at this strike prior to today, and today 750 contract(s) were bought and sold. 
• Regarding CVS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), we observe a put option sweep with bullish sentiment. It expires in 219 day(s) on June 20, 2025. Parties traded 210 contract(s) at a $55.00 strike. This particular put needed to be split into 27 different trades to become filled. The total cost received by the writing party (or parties) was $112.1K, with a price of $533.0 per contract. There were 1798 open contracts at this strike prior to today, and today 726 contract(s) were bought and sold. 
• Regarding MRK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), we observe a call option sweep with bullish sentiment. It expires in 219 day(s) on June 20, 2025. Parties traded 85 contract(s) at a $100.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $59.3K, with a price of $695.0 per contract. There were 445 open contracts at this strike prior to today, and today 431 contract(s) were bought and sold. 
• Regarding HIMS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>), we observe a call option sweep with bullish sentiment. It expires in 2 day(s) on November 15, 2024. Parties traded 174 contract(s) at a $23.00 strike. This particular call needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $95.7K, with a price of $549.0 per contract. There were 4250 open contracts at this strike prior to today, and today 288 contract(s) were bought and sold. 
• For PTGX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTGX#NASDAQ">PTGX</a>), we notice a call option sweep that happens to be bearish, expiring in 65 day(s) on January 17, 2025. This event was a transfer of 37 contract(s) at a $35.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $38.1K, with a price of $1030.0 per contract. There were 48 open contracts at this strike prior to today, and today 268 contract(s) were bought and sold. 
• For INCY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>), we notice a call option sweep that happens to be bullish, expiring in 2 day(s) on November 15, 2024. This event was a transfer of 25 contract(s) at a $67.50 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $35.5K, with a price of $1416.0 per contract. There were 1186 open contracts at this strike prior to today, and today 157 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AMGN

Hims & Hers Health, Inc. Class A Common Stock

HIMS

INCY

PTGX

VKTX

10 Health Care Stocks With Whale Alerts In Today's Session

Syros Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYRS#NASDAQ">SYRS</a>) revealed on Tuesday that the SELECT-MDS-1 Phase 3 trial of tamibarotene did not meet its primary endpoint of <a href="https://www.benzinga.com/pressreleases/24/11/b41920532/syros-announces-topline-data-from-select-mds-1-phase-3-trial-of-tamibarotene-in-higher-risk-myelod" target="_blank" rel="noreferrer noopener">complete response rate</a>.
The trial assessed tamibarotene in combination with azacitidine in newly diagnosed higher-risk myelodysplastic syndrome (HR-MDS) patients with&nbsp;RARA gene overexpression.
Myelodysplastic syndrome is&nbsp;a rare blood cancer that occurs when the DNA in bone marrow stem cells is damaged, preventing them from producing healthy blood cells.
In the first 190 enrolled patients, the complete response rate by intent-to-treat (ITT) in the tamibarotene/azacitidine treatment arm was 23.8% compared to 18.8% in the placebo/azacitidine control arm and was not statistically significant (p-value = 0.2084).
Bristol Myers Squibb &amp; Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;markets azacitidine as Vidaza.
In the safety analysis of all enrolled patients (n=245), tamibarotene combined with azacitidine (n=160) appeared to be generally well-tolerated, with an adverse event profile similar to that seen in earlier Syros-sponsored studies.
Syros also reported, as previously disclosed in its filings with the U.S. Securities and Exchange Commission (SEC), the failure of the SELECT-MDS-1 trial to achieve its primary endpoint constitutes an event of default under its secured loan facility with Oxford Finance.
&#8220;We are deeply disappointed by this outcome, particularly for the HR-MDS patients who are seeking a new treatment option for this challenging disease,&#8221; said Conley Chee, CEO of Syros. &#8220;We plan to stop the study, review the clinical data more thoroughly and evaluate the next steps.&#8221;
In August, Syros Pharmaceuticals discontinued enrollment in the SELECT-AML-1 Phase 2 trial, which evaluated a triplet regimen of tamibarotene in combination with venetoclax and azacitidine compared to a doublet regimen of venetoclax and azacitidine in newly diagnosed, unfit patients with acute myeloid leukemia (AML) and RARA gene overexpression.
The company said&nbsp;the probability of the SELECT-AML-1 study&#8217;s success in demonstrating superiority in the final analysis of 80 randomized patients <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40339304/cancer-focused-syros-pharmaceuticals-stops-mid-stage-leukemia-combo-therapy-study-cites-disappoin" rel="noreferrer noopener">was considered low</a>.
SYRS Price Action: SYRS stock is down 86.43% at 37 cents at last check Wednesday.
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Photo: Shutterstock

Biotech

Health Care

SYRS

Syros Pharmaceuticals Stock Sinks As Pivotal Blood Cancer Trial Flunks, Triggers Loan Default

Citigroup analyst Andrew Baum maintains Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Neutral and raises the price target from $55 to $60.

Price Target

Citigroup Maintains Neutral on Bristol-Myers Squibb, Raises Price Target to $60

On Monday,&nbsp;AbbVie&nbsp;Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) stock plunged after two trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia failed&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41884798/abbvies-emraclidine-for-schizophrenia-surprisingly-disappoints-analyst-says-pipeline-is-underappreciated" rel="noreferrer noopener">two Phase 2 trials</a>.
The studies did not meet their primary endpoint of showing a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6.
Truist says due to the failure, Bristol Myers Squibb&nbsp;&amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Cobenfy (xanomeline and trospium chloride, KarXT) is poised to have less commercial competition.
The analyst also adds that the update will likely raise questions about strategy in neuroscience for AbbVie, which was highlighted during their <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41626490/abbvie-tops-q3-expectations-as-skyrizi-rinvoq-drive-growth" rel="noreferrer noopener">third-quarter earnings call</a>.
The analyst, with a Buy rating and $215 price target, is still positive on AbbVie&#8217;s growth prospects particularly from their immunology I&amp;I franchise.
Emraclidine was part of AbbVie&#8217;s acquisition of Cerevel last year, which also included Tavapadon, which recently reported positive Phase 3 results in Parkinson&#8217;s disease.
The trial met its primary endpoint – patients treated with tavapadon in both dose groups experienced a statistically significant reduction (improvement) from baseline compared to placebo (placebo: +1.8; 5 mg: -9.7; 15 mg: -10.2 versus placebo) in the Movement Disorder Society – Unified Parkinson&#8217;s Disease Rating Scale (MDS-UPDRS) Parts II and III <a href="https://www.benzinga.com/general/biotech/24/09/41050209/abbvie-says-pivotal-trial-for-parkinsons-candidate-meets-its-primary-goal-in-patients-with-early-" target="_blank" rel="noreferrer noopener">combined score at week 26</a>.
Also Read: <a href="https://www.benzinga.com//node/41884798">AbbVie&#8217;s Emraclidine For Schizophrenia &#8216;Surprisingly Disappoints,&#8217; Analyst Says Pipeline Is Underappreciated</a>
BMO Capital Markets writes, &#8220;AbbVie core I&amp;I thesis intact, but this one stings.&#8221;
The analyst has lowered the <a target="_blank" href="https://www.benzinga.com/quote/ABBV/analyst-ratings" rel="noreferrer noopener">price target from $228</a> to $208 and maintains the Outperform rating, citing confidence in the immunology portfolio.
BMO analyst writes that While Neurocrine Biosciences Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) mixed phase 2 data from NBI-1117568 <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40632561/neurocrine-biosciences-lower-dose-data-puts-its-schizophrenia-candidate-in-the-game" rel="noreferrer noopener">showed some efficacy</a>, there was absolutely no benefit in these trials. Bristol&#8217;s Cobenfy is now poised to dominate the schizophrenia market, the analyst adds.
BMO has reduced the probability of success for emraclidine to 0%, which was previously estimated to reach a potential $3.9 billion in global unadjusted peak sales in the Schizophrenia indication.
Price Action: ABBV stock is down 0.84% at $172.96 at last check Tuesday.
Photo via Shutterstock
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Analyst Color

Equities

Large Cap

Reiteration

General

ABBV

NBIX

AbbVie's Schizophrenia Failure Disappoints But Analysts Show Confidence In Immunology Portfolio

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Wolfe Research analyst Andy Chen upgraded the rating for argenx SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) from Peer Perform to Outperform and announced a $697 price target. argenx shares closed at $588.94 on Monday. <a href="https://www.benzinga.com/quote/ARGX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities analyst Jessica Reif Cohen upgraded iHeartMedia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IHRT#NASDAQ">IHRT</a>) from Underperform to Neutral and raised the price target from $1 to $3. iHeartMedia shares closed at $2.49 on Monday. <a href="https://www.benzinga.com/quote/IHRT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank analyst Brad Zelnick upgraded SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) from Hold to Buy and raised the price target from $25 to $32. SentinelOne shares closed at $27.18 on Monday. <a href="https://www.benzinga.com/quote/S/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley analyst Lisa De Neve upgraded the rating for International Flavors &amp; Fragrances Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IFF#NYSE">IFF</a>) from Equal-Weight to Overweight and lowered the price target from $111 to $110. Intl Flavors shares closed at $91.21 on Monday. <a href="https://www.benzinga.com/quote/IFF/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Leerink Partners analyst David Risinger upgraded Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) from Market Perform to Outperform and raised the price target from $55 to $73. Bristol-Myers shares closed at $59.82 on Monday. <a href="https://www.benzinga.com/quote/BMY/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying BMY stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="537" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12133435/image-120-1024x537.png" alt="" class="wp-image-643625" style="width:646px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12133435/image-120-1024x537.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12133435/image-120-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12133435/image-120-768x403.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12133435/image-120.png 1216w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Upgrades

Markets

ARGX

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This Bristol-Myers Squibb Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday

Leerink Partners has upgraded Bristol-Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), stating that the company enters a catalyst-rich period in 2025-2027 beyond Cobenfy (a schizophrenia drug) and milvexian (anticoagulant).
The analyst expects upward pressure on Cobenfy (KarXT) and milvexian consensus expectations to drive stock outperformance from current levels.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41855578/bristol-myers-squibb-leads-biopharma-recovery-with-almost-25-growth-in-market-cap-but-novo-nordisk-and-lilly-suffer-market-setbacks" rel="noreferrer noopener">Bristol-Myers Squibb Leads Biopharma Recovery With Almost 25% Growth In Market Cap, But Novo Nordisk And Lilly Suffer Market Setbacks</a>
Leerink has upgraded from Market Perform to Outperform, with a price target of $73, <a target="_blank" href="https://www.benzinga.com/quote/BMY/analyst-ratings" rel="noreferrer noopener">up from the previous $55</a>, and adds that Bristol-Myers stock trades a substantial discount to the Diversified Biopharmaceutical median due to constrained EPS growth through 2029.
But the U.S. pharma giant&#8217;s exposure to loss of exclusivity (LOE) pressures diminishes in 2030+ relative to peers.
On Monday,&nbsp;AbbVie&nbsp;Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) stock fell after two trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia failed&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41884798/abbvies-emraclidine-for-schizophrenia-surprisingly-disappoints-analyst-says-pipeline-is-underappreciated" rel="noreferrer noopener">two Phase 2 trials</a>.
With AbbVie&#8217;s emraclidine Phase 2 trial failures, Leerink no longer anticipates that a competing product will launch in 2026, thus boosting long-term Cobenfy projections, including 2030E sales from $4.2 billion to $5.7 billion.
&#8220;Cobenfy appears likely to be a pipeline within a product, with limited competitive threats from stand-alone M4 candidates,&#8221; Leerink analyst writes.
Leerink analyst estimates the potential for peak Cobenfy sales of over $10 billion if it succeeds in additional indications since Eli Lilly And Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Zyprexa generated $5 billion in peak revenue in 2010 at much lower prices.
The analyst has also increased <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35878620/analyst-assess-implications-of-bristol-myers-investigational-blood-thinner-post-bay" rel="noreferrer noopener">milvexian sales projections</a>, with 2030E sales from $3.1 billion to $3.9 billion.
&#8220;We see the potential for milvexian peak sales to be above our 2025E Eliquis sales estimate of $14.4 billion if it delivers a superior benefit-risk profile in its atrial fibrillation Phase 3 in early 2027.&#8221;
Price Action: BMY stock is down 0.74% at $59.37 at the last check on Tuesday.
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Courtesy of Bristol Myers Squibb

Bristol-Myers Squibb's $14 Billion Potential - Analyst Upgrades Stock

BMO Capital analyst Evan Seigerman maintains Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Market Perform and raises the price target from $57 to $61.

BMO Capital Maintains Market Perform on Bristol-Myers Squibb, Raises Price Target to $61

Morgan Stanley analyst Terence Flynn maintains Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Underweight and raises the price target from $36 to $39.

Morgan Stanley Maintains Underweight on Bristol-Myers Squibb, Raises Price Target to $39

Leerink Partners analyst David Risinger upgrades Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) from Market Perform to Outperform and raises the price target from $55 to $73.

Leerink Partners Upgrades Bristol-Myers Squibb to Outperform, Raises Price Target to $73

Bristol-Myers Squibb Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) shares are trading higher Monday. The stock appears to be reacting positively after AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) announced that its Phase 2 EMPOWER trials did not <a href="https://www.benzinga.com/general/biotech/24/11/41881546/abbvie-9billion-schizophrenia-studies-bristol-myers-stock-surges">meet their primary endpoints</a>.
The Details: Abbvie announced that its two Phase 2 EMPOWER trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia did not meet their primary endpoint. 
The trials failed to show a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6. While the clinical trials did not meet their primary endpoint, emraclidine was well-tolerated with a safety profile comparable to that observed in the Phase 1b trial. 
&#8220;While we are disappointed with the results, we are continuing to analyze the data to determine next steps,&#8221; said&nbsp;Roopal Thakkar, executive vice president, research and development, chief scientific officer, AbbVie. 
&#8220;We would like to extend our gratitude to the study participants and their loved ones as well as to our network of clinical investigative sites for their participation in these trials. We are confident that our innovative pipeline will continue to bring meaningful therapies to patients, and we remain committed to finding better treatments for people living with psychiatric and neurological disorders.&#8221;
Related Link: <a href="https://www.benzinga.com/general/biotech/24/11/41884798/abbvies-emraclidine-for-schizophrenia-surprisingly-disappoints-analyst-says-pipeline-is-underappreciated">AbbVie&#8217;s Emraclidine For Schizophrenia &#8216;Surprisingly Disappoints,&#8217; Analyst Says Pipeline Is Underappreciated</a>
AbbVie is a large pharmaceutical company with a strong focus on immunology and neuroscience, while Bristol-Myers Squibb, though smaller, emphasizes therapies in oncology and cardiovascular disease. 
The U.S. Food and Drug Administration <a href="https://www.benzinga.com/general/biotech/24/09/40964682/bristol-myers-acquired-drug-karxt-poised-for-fda-approval-as-first-new-type-of-schizophrenia-trea">approved</a> Karuna Therapeutics&#8216; KarXT in September. It was the first schizophrenia drug to be approved since the 1950s. Bristol-Myers Squibb acquired Karuna Therapeutics for $330 per share in cash last year. 
BMY Price Action: At the time of publication, Bristol-Myers Squibb stock is up 11% at $60.12, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Courtesy of Bristol Myers Squibb

Movers

What's Going On With Bristol-Myers Squibb Shares Monday?

On Monday,&nbsp;AbbVie&nbsp;Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) stock plunged after two trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia failed <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41881546/abbvie-9billion-schizophrenia-studies-bristol-myers-stock-surges" rel="noreferrer noopener">two Phase 2 trials</a>.
The studies did not meet their primary endpoint of showing a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6.
PANSS is&nbsp;a scale used for measuring the symptom severity of schizophrenia.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41855578/bristol-myers-squibb-leads-biopharma-recovery-with-almost-25-growth-in-market-cap-but-novo-nordisk-and-lilly-suffer-market-setbacks" rel="noreferrer noopener">Bristol-Myers Squibb Leads Biopharma Recovery With Almost 25% Growth In Market Cap, But Novo Nordisk And Lilly Suffer Market Setbacks</a>
Cantor Fitzgerald points out that Wall Street had anticipated positive results from both of AbbVie&#8217;s studies, though they expected the details to be mixed, such as how impressive the PANSS score might be.
Even with the negative results, Cantor Fitzgerald remains positive on AbbVie&#8217;s stock and believes the company's pipeline is undervalued.
&#8220;This is disappointing and unexpected,&#8221; the analyst added. The disappointing AbbVie&#8217;s trial results is a benefit for Bristol Myers Squibb&nbsp;&amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) approved schizophrenia drug, Cobenfy, but they raise questions about using selective muscarinic targeting for treating schizophrenia and other conditions.
The data could suggest differences between positive allosteric modulators like emraclidine and direct agonists like Cobenfy.
Cantor maintains the Overweight rating with a <a target="_blank" href="https://www.benzinga.com/quote/ABBV/analyst-ratings" rel="noreferrer noopener">price target of $240</a>.
Despite this setback, the Cerevel acquisition still holds promise, with other treatments like Darigabat (for epilepsy and anxiety) and Tavapadon (Parkinson&#8217;s) continuing to progress.
Top-line results from the TEMPO-2 Phase 3 flexible-dose monotherapy trial of Tavapadon in Parkinson&#8217;s Disease are expected by the end of 2024. Results from the long-term safety study, TEMPO-4, are expected in 2025.
Price Action: ABBV stock is down 11.7% at $176.16 at last check Monday.
Photo: Formatoriginal/Shutterstock.com
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AbbVie's Emraclidine For Schizophrenia 'Surprisingly Disappoints,' Analyst Says Pipeline Is Underappreciated

Germany-based Evotec SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) is trading on Monday after a report that suggests the company is a takeover target.
The private equity firm Triton Partners&nbsp;is reportedly considering acquiring Evotec, Bloomberg reported, citing people familiar with the matter.
In an SEC filing, Evotec <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1412558/000119312524254399/d872020dsc13d.htm" rel="noreferrer noopener">reported</a> that Triton had acquired a 9.99% stake in the company via several open-market transactions.
The company <a target="_blank" href="https://www.evotec.com/en/about-us/evotec" rel="noreferrer noopener">offers</a> drug discovery and development services to several biotech and pharmaceutical companies.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/41048867/novo-nordisk-and-evotec-collaborate-on-stem-cell-based-therapy-development" rel="noreferrer noopener">Novo Nordisk And Evotec Collaborate On Stem Cell-Based Therapy Development</a>
According to the report, the investment firm has been trying to meet with senior Evotec executives as it looks into a possible buyout.
If Triton wants to increase its stake to 10% or more, it would need approval for foreign investment, the <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-11/triton-is-said-to-weigh-takeover-deal-for-drug-developer-evotec" rel="noreferrer noopener">report</a> added.
Any major move would also require backing from Evotec&#8217;s key shareholders, including Novo Holdings, the parent company of Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), and the Abu Dhabi-based Mubadala Investment.
Last week, the German company reported third-quarter revenues of 184.89 million euros, down from 196.28 million a year ago, <a target="_blank" href="https://www.evotec.com/uploads/download-files/IR-ESG-DE/2024-11-06_9M_Analyst-call-presentation.pdf" rel="noreferrer noopener">noting</a> a soft market in shared R&amp;D.
It <a target="_blank" href="https://www.evotec.com/uploads/download-files/IR-ESG/Financial_Publications/Interim-Statement-9M-2024-English.pdf" rel="noreferrer noopener">reported</a> an operating loss of 26.46 million euros, compared to 12.19 million euros loss a year ago.
In its second-quarter earnings, Evotec&#8217;s CEO said the company is operating in a more challenging market environment, notably the slowdown of <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40376143/bristol-myers-german-partner-evotec-plans-layoffs-cites-challenging-revenues-profitability" rel="noreferrer noopener">early-stage R&amp;D spending</a>.
In October, Evotec announced advancements in its strategic partnership with&nbsp;Bristol-Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), which is&nbsp;focused on developing a molecular <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41490865/why-is-evotec-stock-gaining-today" rel="noreferrer noopener">glue-based pipeline</a>.
Price Action: EVO stock is up 16.2% at $4.80 at last check Monday.
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</ul>

Rumors

Media

Private Equity Triton Partners Takes Around 10% Stake In Evotec, Reportedly Mulls Potential Takeover Deal

On Monday, AbbVie&nbsp;Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) stock is trading lower after it released data from its two Phase 2 EMPOWER trials of <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41877628/abbvie-provides-update-on-phase-2-results-for-emraclidine-in-schizophrenia" rel="noreferrer noopener">emraclidine for schizophrenia</a>.
The trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia. The patients experienced an acute exacerbation of psychotic symptoms and did not meet their primary endpoint of showing a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6.
PANSS is&nbsp;a scale used for measuring the symptom severity of schizophrenia.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41855578/bristol-myers-squibb-leads-biopharma-recovery-with-almost-25-growth-in-market-cap-but-novo-nordisk-and-lilly-suffer-market-setbacks" rel="noreferrer noopener">Bristol-Myers Squibb Leads Biopharma Recovery With Almost 25% Growth In Market Cap, But Novo Nordisk And Lilly Suffer Market Setbacks</a>
&#8220;While we are disappointed with the results, we are continuing to analyze the data to determine next steps,&#8221; said Roopal Thakkar, executive vice president, research and development, chief scientific officer, AbbVie.
The EMPOWER clinical development program evaluated emraclidine in patients with schizophrenia who are experiencing an acute exacerbation in two adequately powered, placebo-controlled Phase 2 trials, EMPOWER-1 and EMPOWER-2.
The program also includes a 52-week open-label extension trial EMPOWER-3 evaluating emraclidine in people living with schizophrenia who have stable symptoms and are not currently experiencing an acute exacerbation of psychotic symptoms.
AbbVie added emraclidine via the approximately $8.7 billion acquisition of Cerevel Therapeutics.
Last year, an analyst highlighted that the Cerevel deal aligns seamlessly with its established strategy, introducing a portfolio of five clinical-stage and two preclinical candidates targeting various ailments like schizophrenia, Parkinson&#8217;s disease, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36138732/abbvies-new-9b-neuroscience-space-deal-might-attract-ftc-scrutiny-analyst-signals" rel="noreferrer noopener">and mood disorders</a>.
This strategic move is anticipated to fuel growth from the latter part of this decade well into the 2030s.
Last month, the FDA approved&nbsp;AbbVie&#8217;s Vyalev (foscarbidopa and foslevodopa) as the first and only subcutaneous 24-hour infusion of levodopa-based therapy for motor fluctuations in adults with&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41384990/fda-approves-abbvies-parkinsons-treatment-medicare-coverage-expected-next-year" rel="noreferrer noopener">advanced Parkinson's disease</a>.
Most recently, the FDA approved&nbsp;Bristol Myers Squibb&nbsp;&amp; Co's&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;Cobenfy (xanomeline and trospium chloride, KarXT), an oral medication for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/41064867/schizophrenia-treatment-revolution-fda-approves-bristol-myers-squibb-cobenfy-as-new-class-of-trea" rel="noreferrer noopener">schizophrenia in adults</a>.
Bristol-Myers added the treatment via Karuna Therapeutics deal for $330 per share in cash for a total equity&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/12/36388646/bristol-myers-acquisition-of-karuna-therapeutics-paves-way-for-aggressive-global-marketing-of-ka" rel="noreferrer noopener">value of $14 billion</a>.
Price Action: AbbVie stock is down 10.6% at $178.32, while Bristol Myers Squibb stock is up 13% at $61.20 during the premarket session at last check Monday.
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Image: Shutterstock

AbbVie Stock Slips As $9 Billion Schizophrenia Studies Flunk, Bristol-Myers Stock Surges

U.S. stocks were higher, with the Dow Jones index gaining more than 400 points on Monday.
Shares of MARA Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) rose sharply during Monday's session amid <a href="https://www.benzinga.com/quote/MARA">strength in Bitcoin</a>.
Prices for Bitcoin surged above the $82,000 level on Monday.
MARA Holdings shares jumped 17.3% to $22.59 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Canaan Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAN#NASDAQ">CAN</a>) shares surged 40.8% to $1.7750 after Bitcoin rose above $82,000</li>
<li>RadNet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDNT#NASDAQ">RDNT</a>) surged 24.8% to $90.53 after the company reported better-than-expected third-quarter financial results.</li>
<li>Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) shares jumped 23.2% to $5.29 amid strength in Bitcoin prices.</li>
<li>Cango Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CANG#NYSE">CANG</a>) gained 19.7% to $4.0700.</li>
<li>Bitdeer Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) shares surged 19.1% to $10.67.</li>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) rose 18% to $33.56.</li>
<li>Nano-X Imaging Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNOX#NASDAQ">NNOX</a>) rose 16.8% to $7.12.</li>
<li>Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) gained 16.5% to $22.81 after Bitcoin rose above $82,000.</li>
<li>Riot Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) rose 16% to $14.84 after Bitcoin rose above $82,000.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) gained 14.2% to $26.72.</li>
<li>Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) gained 13.5% to $12.47.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) jumped 13.3% to $306.99 amid strength in Bitcoin.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) gained 11.7% to $60.50. The stock may be moving in response to AbbVie after the company announced its two Phase 2 EMPOWER trials did not meet its primary endpoint.</li>
<li>Recursion Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>) rose 10.1% to $7.82.</li>
<li>e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) gained 8.5% to $130.47.</li>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) climbed 8.2% to $50.31.</li>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) gained 8.2% to $33.03 after Morgan Stanley maintained an Equal-Weight rating on the stock and raised its price target from $22 to $24.</li>
<li>The Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) rose 6.6% to $340.70 after the company confirmed it is not pursuing a combination with Humana.</li>
</ul>
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<li> <a href="https://www.benzinga.com/trading-ideas/short-ideas/24/11/41874548/top-4-health-care-stocks-that-may-plunge-this-quarter">Top 4 Health Care Stocks That May Plunge This Quarter</a></li>
</ul>

Intraday Update

AFRM

BTBT

BTDR

CANG

COIN

HOOD

IREN

LMND

MARA

NNOX

RDNT

RIOT

RXRX

MARA Holdings, RadNet, Bit Digital, Coinbase And Other Big Stocks Moving Higher On Monday

WIIM

Bristol-Myers Squibb shares are trading higher. The stock may be moving in response to AbbVie after the company announced its two Phase 2 EMPOWER trials did not meet its primary endpoint.

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com%2F&amp;esheet=54149745&amp;newsitemid=20241108701311&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=5d7e0891a22d737b9b24a93665f36298">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced the presentation of data across its cardiovascular portfolio at the American Heart Association (AHA) Annual Scientific Sessions, taking place November 16-18, 2024, in Chicago, Illinois. New analyses include updated results from the nearly two-year post-launch evaluation of the CAMZYOS&#xAE; (mavacamten) Risk Evaluation and Mitigation Strategy (REMS) Program and real-world and long-term extension data reinforcing the efficacy and safety profile of CAMZYOS, as well as data on behalf of the BMS-Pfizer Alliance on ELIQUIS&#xAE; (apixaban) and the BMS-Johnson &amp; Johnson Collaboration on milvexian.

Bristol Myers Squibb To Showcase Cardiovascular Breakthroughs At AHA, Including New CAMZYOS Data

The biopharmaceutical sector showed signs of recovery in the third quarter of 2024, fueled by increased investor optimism following the U.S. Federal Reserve&#8217;s interest rate cuts in September. 
According to GlobalData, the top 20 global biopharmaceutical companies <a href="https://www.globaldata.com/media/business-fundamentals/top-20-global-biopharmaceutical-companies-witness-2-growth-in-market-capitalization-in-q3-2024-reveals-globaldata/#:~:text=As%20a%20result%2C%20the%20top,data%20analytics%20and%20research%20company.">saw</a> a 2% rise in their combined market capitalization, reaching $4.3 trillion by the end of September, up from $4.2 trillion in June. 
This rebound highlights the industry&#8217;s potential for growth despite challenges earlier in the year.
Bristol-Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) led the market with the largest increase in capitalization, which surged by 24.6% to $105 billion. This was largely driven by advancements in its pipeline, notably the FDA&#8217;s approval of its antipsychotic drug, Cobenfy, for treating <a href="https://www.benzinga.com/general/biotech/24/09/41064867/schizophrenia-treatment-revolution-fda-approves-bristol-myers-squibb-cobenfy-as-new-class-of-trea">schizophrenia in September 2024</a>. 
Gilead Sciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) also <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41819570/hiv-drugmaker-gilead-reports-strongest-quarterly-performance-of-2024-analysts-boost">posted impressive growth</a>, rising 22.1% in market value, thanks to the accelerated FDA approval of Livdelzi, a treatment for <a href="https://www.benzinga.com/general/biotech/24/08/40394698/fda-approves-gileads-seladelpar-for-inflammatory-liver-disease-acquired-via-4b-cymabay-deal">primary biliary cholangitis</a>, as well as the approval of its antibody-drug conjugate, Trodelvy, for HR-/HER2- breast cancer in Japan.
Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) experienced a 19.2% jump in market capitalization, largely fueled by its <a href="https://www.benzinga.com/general/biotech/24/10/41541274/sanofi-earns-5b-q3-core-profit-on-strong-dupixent-and-vaccine-sales-raises-2024-forecast">flagship drug Dupixent</a>. The drug&#8217;s strong performance in the treatment of conditions such as asthma and atopic dermatitis, coupled with its recent EMA and FDA approvals for chronic obstructive pulmonary disease (COPD), further <a href="https://www.benzinga.com/general/biotech/24/09/41069388/fda-approves-regeneronsanofis-blockbuster-dupixent-for-smokers-lung-disease">boosted Sanofi&#8217;s standing</a>. 
Similarly, AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) saw a 15.2% increase in its market cap, driven by the continued success of its immunology drugs—Humira, Skyrizi, and Rinvoq—which together generated nearly $7 billion <a href="https://www.benzinga.com/general/biotech/24/07/39960414/abbvies-q2-earnings-beat-estimates-raises-annual-profit-on-strong-sales-from-newer-immunology-and">in Q2 2024 sales</a>.
Alnylam Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) joined the top 20 biopharmaceutical companies with a 14.9% rise in its market value, following its RNAi drug vutrisiran's positive results in treating ATTR <a href="https://www.benzinga.com/general/biotech/24/08/40652720/alnylam-pharmaceuticals-stock-falls-after-detailed-vutrisiran-data-for-a-condition-with-stiff-hea">amyloidosis with cardiomyopathy</a>. 
Roche Holdings AG's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>) market capitalization grew by 13.8%, spurred by the FDA&#8217;s approval of two key products, Ocrevus Zunovo for multiple sclerosis and Tecentriq Hybreza for oncology indications, the latter being the only approved subcutaneous <a href="https://www.benzinga.com/general/biotech/24/08/40652720/alnylam-pharmaceuticals-stock-falls-after-detailed-vutrisiran-data-for-a-condition-with-stiff-hea">PD-L1 inhibitor available</a>.
On the downside, Wegovy maker Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) saw an 18.2% drop in its market cap after the FDA rejected its BLA filing for the once-<a href="https://www.benzinga.com/general/biotech/24/07/39732571/fda-rejects-novo-nordisks-weekly-insulin-requests-information-related-to-manufacturing-process-ty">weekly insulin icodec</a>.
Similarly, Eli Lilly &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) reported a slight decline of 2.1%, though both companies retained their leadership in diabetes and <a href="https://www.benzinga.com/general/biotech/24/10/41622207/eli-lilly-q3-earnings-mounjaro-sales-more-than-double-takes-2-98-billion-hit-to-profit-cuts-annua">weight loss drugs</a>. 
Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) also faced a 8.2% fall in market value, largely due to disappointing sales of its HPV vaccine, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41693101/mercks-gardasil-shot-challenges-to-continue-analysts-optimistic-for-newly-approved-">Gardasil, in China</a>.
&nbsp;"The biopharmaceutical industry is poised for a recovery, fueled by multiple FDA approvals leading to a rebound in companies that have seen declines in market capitalization in previous quarters, such as Gilead Sciences and Bristol-Myers Squibb,&#8221; says GlobalData analyst.
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Image Via Shutterstock

ALNY

GILD

RHHBY

Bristol-Myers Squibb Leads Biopharma Recovery With Almost 25% Growth In Market Cap, But Novo Nordisk And Lilly Suffer Market Setbacks

Teva Pharmaceutical Industries Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) reported third-quarter 2024 sales of $4.33 billion on Wednesday. It beat the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of $4.12 billion</a>.
Revenues increased 13% year-over-year and 15% on constant currency. This was mainly due to higher revenues from generic products in all segments (i.e., Austedo in the U.S. segment), and the sale of product rights in Europe and <a href="https://www.benzinga.com/pressreleases/24/11/g41769774/teva-announces-strong-financial-results-for-the-third-quarter-of-2024-led-by-generics-performance-" target="_blank" rel="noreferrer noopener">International Markets segments</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41384005/amicus-therapeutics-settles-patent-lawsuit-teva-pharmaceuticals-over-generic-version-of-its-rare-" rel="noreferrer noopener">Amicus Therapeutics Settles Patent Lawsuit Teva Pharmaceuticals Over Generic Version Of Its Rare Genetic Disorder Drug</a>
Generics business grows across all regions — increased by 30% in the U.S., 8% in Europe, and 13% in International Markets, in local currency terms compared to Q3 2023.
Generic products revenues in the U.S. segment (including biosimilars) were $1.09 billion, up 30% year over year, the majority of which was driven by higher revenues from lenalidomide capsules (the generic version of Bristol Myers Squibb &amp; Co&#8217;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) Revlimid), and the remaining, primarily by the launch of liraglutide injection 1.8mg — an authorized generic of Novo Nordisk A/S&#8217; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) Victoza — and higher revenues from epinephrine injectable solution (the generic equivalent of EpiPen and EpiPen Jr).
<ul>
<li>Austedo U.S. revenues increased 28% to $435 million. Ajovy's global revenues increased by 21% to $137 million.</li>
<li>Uzedy&#8217;s U.S. revenues of $35 million.</li>
<li>Teva says its intention to divest Teva API is on track, targeting completion in the first half of 2025.</li>
<li>Adjusted EPS of 69 cents, higher than 60 cents a year ago, beating the consensus of 66 cents.</li>
<li>Adjusted gross profit margin&nbsp;was 53.7% in the third quarter of 2024, compared to 53.5% in the third quarter of 2023.</li>
<li>Adjusted operating margin reached 28%, down from 26.5% a year ago.</li>
<li>Adjusted EBITDA&nbsp;was $1.34 billion in the third quarter of 2024, an increase of 17%.</li>
</ul>
Outlook:&nbsp;Teva expects fiscal year 2024 revenues of $16.1 billion-$16.5 billion versus <a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/40071226/teva-beats-q2-estimates-raises-annual-outlook-on-strong-generic-austedo-sales" rel="noreferrer noopener">prior guidance of</a> $16.0 billion—$16.4 billion and consensus of $16.256 billion.
The generic pharma player expects 2024 adjusted EPS of $2.40-$2.50 versus prior guidance of $2.30-$2.50 and consensus of $2.45.
The company raised 2024 Uzedy sales guidance from around $80 million to approximately $100 million.
Price Action: Teva stock is up 1.76% at $19.10 during the premarket session at last check Wednesday.
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</ul>

Earnings

Guidance

TEVA

Generic Drug Maker Teva Clocks 13% Jump In Q3 Revenues, Tightens Annual Forecast

JMP Securities initiated coverage on Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>), noting the company&#8217;s initial focus on infectious disease. Later, in 2022, the company pivoted to oncology and in-licensed ivonescimab (PD-1 X VEGF bispecific) from Akeso for $500 million upfront and $5 billion in potential milestones.
The analyst says, &#8220;We believe Summit shares represent a unique investment opportunity.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40896344/merckdaiichi-sankyo-partnered-lung-cancer-candidate-meets-primary-goal-in-late-stage-study" rel="noreferrer noopener">Merck/Daiichi Sankyo Partnered Lung Cancer Candidate Meets Primary Goal In Late-Stage Study</a>
JMP notes despite the incredible clinical and commercial success of Merck &amp; Co. Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) Keytruda (pembrolizumab) and Bristol Myers Squibb &amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Opdivo (nivolumab), ivonescimab seems as if a formidable opponent has appeared offering higher response rates and a longer median progression-free survival.
In September, Summit Therapeutics&nbsp;released data from the primary analysis of the Phase 3 HARMONi-2 trial of ivonescimab conducted in China.
Ivonescimab monotherapy demonstrated a statistically significant improvement in the trial&#8217;s primary endpoint, progression-free survival, compared to monotherapy pembrolizumab, achieving a <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40771038/summit-therapeutics-lung-cancer-candidate-surpasses-mercks-multi-billion-dollar-keytruda-cuts-ris" rel="noreferrer noopener">hazard ratio (HR) of 0.51</a>.
JMP initiated Summit Therapeutics with a Market Outperform rating and a <a target="_blank" href="https://www.benzinga.com/quote/SMMT/analyst-ratings" rel="noreferrer noopener">price target of $32</a>.
The analyst also notes that while the overall survival data are still in progress, Ivonescimab has a strong chance of showing an overall survival advantage over pembrolizumab in first-line non-small cell lung cancer in a future data update.
The analyst notes that with numerous global Phase 3 studies in progress and strong head-to-head data for monotherapy, Summit is positioned to potentially commercialize its treatment in the more targeted EGFRm and first-line NSCLC patient groups.
If successful, this could lead to an estimated $17.9 billion in peak global revenue upon potential entry into the first-line NSCLC market by 2034.
Price Action: SMMT stock is up 5.33% at $20.00 at last check Monday.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com/general/biotech/24/11/41723132/astrazeneca-unveils-early-data-from-chinese-firm-partnered-oral-weight-loss-drug" target="_blank" rel="noreferrer noopener">AstraZeneca Unveils Early Data From Chinese-Firm Partnered Oral Weight Loss Drug</a></li>
</ul>

SMMT

Summit Therapeutics 'Unique Investment In Oncology,' Lead Drug Candidate Shows Promise Over Keytruda And Opdivo

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Here&#39;s How Coeptis Therapeutics Is Innovating Cell Therapy Approaches

Press Releases

Bristol Myers Squibb Presents New Data from Two Trials Demonstrating Sotyktu (deucravacitinib) Efficacy in both Moderate-to-Severe Scalp Psoriasis and in a Real-World Setting

Prime Medicine Announces Strategic Research Collaboration and License Agreement with Bristol Myers Squibb to Develop and Commercialize Multiple Prime Edited Ex Vivo T-Cell Therapies

U.S. Food and Drug Administration Approves Perioperative Treatment of Neoadjuvant Opdivo® (nivolumab) and Chemotherapy Followed by Surgery and Adjuvant Single-Agent Opdivo for Resectable Non-Small Cell Lung Cancer (NSCLC)

Bristol Myers Squibb to Present New Clinical and Health Economics and Outcomes Research Data at Psych Congress 2024

OS Therapies Appoints Two Bio-Pharmaceutical Industry Veterans to the Board of Directors

Bristol Myers Squibb Reports Third Quarter Financial Results for 2024

Bristol Myers Squibb Presents New Long-term Data from the EMERGENT Program Evaluating COBENFY™ (xanomeline and trospium chloride) in Adults with Schizophrenia at Psych Congress 2024

Bristol Myers Squibb to Participate in Upcoming Investor Conferences

Bristol Myers Squibb Showcases the Continued Strength of its Cardiovascular Portfolio with New Clinical and Real-World Data at American Heart Association Scientific Sessions 2024

Perspective Therapeutics Provides Recent Business Highlights and Reports Fiscal 3Q 2024 Results

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