La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Bristol-Myers Squibb a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Bristol-Myers Squibb..

Bristol-Myers Squibb (NYSE:BMY) Azioni, Catena delle Opzioni

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.

Bristol-Myers Squibb Company Common Stock

Bristol-Myers Squibb Co

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

BRISTOL MYERS SQUIBB ORD

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
Read Next:
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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>

Analyst Color

Biotech

Equities

News

Health Care

Price Target

Initiation

Analyst Ratings

Movers

Trading Ideas

General

SMMT

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

Bristol-Myers Squibb's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) short percent of float has risen 12.12% since its last report. The company recently reported that it has 22.50 million shares sold short, which is 1.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.91 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Bristol-Myers Squibb Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730731618_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Bristol-Myers Squibb has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Bristol-Myers Squibb's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Bristol-Myers Squibb's peer group average for short interest as a percentage of float is 4.88%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Bristol-Myers Squibb?

On Thursday,&nbsp;Bristol Myers Squibb &amp; Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;posted third-quarter revenues of $11.89 billion, beating the consensus of $11.28 billion, an increase of 8% year-over-year, or 10% when adjusted for foreign exchange impacts, primarily driven by the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41655052/bristol-myers-squibb-boosts-2024-outlook-on-strong-demand-for-blood-thinner-med-new-drugs-drive-q" rel="noreferrer noopener">Growth Portfolio and&nbsp;Eliquis</a>.
Growth Portfolio worldwide revenues increased to $5.81 billion compared to $4.95&nbsp;billion a year ago, representing growth of 18% on a reported basis or 20% when adjusted for&nbsp;foreign exchange impacts.
BMO Capital Markets appreciates a conservative approach in the neuropsych space, though it notes management&#8217;s reserved stance on revenue expectations. It highlights that significant revenue is not expected until the second half of 2025, with a gradual launch anticipated for schizophrenia treatment.
The analyst considers the potential for Alzheimer&#8217;s psychosis treatment as an added upside, likely to positively impact sentiment.
While Bristol-Myers Squibb&#8217;s recent quarterly performance showed encouraging progress in top-line growth and cost management, its true transformation will stem from its pipeline, the BMO analyst writes.
The recent approval of Cobenfy, along with newly launched growth products, could bring the momentum investors have been anticipating.
Truist analysts noted that much of the Q3 earnings call centered on KarXT (Cobenfy), a critical asset for treating schizophrenia that could drive significant revenue and support long-term growth.
Truist analyst projects global peak sales at $4.2 billion, below the $5.4 billion consensus estimate.
While business development and partnerships are crucial to diversifying the company&#8217;s portfolio and strengthening its long-term outlook, Truist emphasized that maintaining dividends and reducing debt remain top priorities.
Price Action: BMY stock is down 1.91% at $54.71 at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/11/41686173/cancer-focused-essa-pharma-ends-prostate-cancer-trial-due-to-insufficient-efficacy-from-combinati" target="_blank" rel="noreferrer noopener">Cancer-Focused ESSA Pharma Ends Prostate Cancer Trial Due to Insufficient Efficacy From Combination Therapy</a></li>
</ul>
Image: Wikimedia Commons

Large Cap

Bristol Myers Squibb Expects New Schizophrenia Treatment To Boost Long-Term Growth, Analysts Remain Cautious

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 $53 to $57.

BMO Capital Maintains Market Perform on Bristol-Myers Squibb, Raises Price Target to $57

Bristol Myers Squibb Announced Topline Data From Its Phase 3 Study Of COBENFY That Showed Continuing Improvement In Symptoms Of Schizophrenia

Risk aversion swept across markets on Thursday as investor disappointment over third-quarter tech earnings triggered the steepest drop in major U.S. indices <a href="https://www.benzinga.com/markets">in nearly two months.</a>
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) plummeted over 5% by midday trading in New York, on track for its worst session in two years. Although the company surpassed earnings estimates, it forecasted slower growth in its Azure cloud business, dampening future revenue expectations.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) also declined by over 4% despite a strong quarterly performance, as the social media giant projected &#8220;significant&#8221; capital expenditure growth next year, particularly for AI infrastructure.
The elite &#8220;Magnificent Seven&#8221; tech group shed nearly $500 billion in market capitalization within a single day after reaching a record high of $16.8 trillion. Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) are set to report earnings after the market close.
In economic news, inflation sent mixed signals for September. The Personal Consumption Expenditures (PCE) price index slowed as expected to 2.1% annually, while the Fed's preferred inflation measure, the core PCE price index, remained at 2.7% year over year, slightly <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41658542/fed-interest-rate-cuts-expected-but-economists-warn-of-bumpy-course-in-this-last-">above the expected 2.6%.</a>
The S&amp;P 500 dropped 1.4%, and the tech-heavy Nasdaq 100 slid 2.2%, both tracking their worst session since Sept. 6. The CBOE Volatility Index (VIX) surged 12%.
Risk aversion also weighed on commodities, with gold prices dropping 1.7%, marking their worst day since July, and silver plunging 3% after a 2% decline on Wednesday. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slid 2.4%, and crypto-related stocks suffered significant losses. Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) tumbled over 10% on disappointing earnings, eyeing its worst day since May.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,832.30</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,213.10</td>
<td>-0.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,729.43</td>
<td>-1.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,943.07</td>
<td>-2.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent103124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 1.5% to $571.51.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.8% to $418.60.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) tumbled 2.2% to $485.78. </li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $219.65.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, rising 1.4%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 2.4%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
Stocks reacting to corporate earnings were: 
<ul>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), up over 5%, </li>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), up 1.7%,</li>
<li>Starbucks Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>), down 0.6%, </li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), down over 8%, </li>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), up 1.9%,</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), up 24%,</li>
<li>Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), down 1.8%, </li>
<li>Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), down 2.8%,</li>
<li>Linde plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NASDAQ">LIN</a>), down 2.9%, </li>
<li>Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), up 2.9%, </li>
<li>Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), down over 11%, </li>
<li>Eaton Corp. plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>), down 5%, </li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), up 6%, </li>
<li>Bristo-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), up 3.3%, </li>
<li>Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), up 2.2%, </li>
<li>Altria Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), up 7.6%, </li>
<li>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>), down 9%, </li>
<li>The Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), up 3%, </li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), up over 9%. </li>
<li>Cheniere Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNG#NYSE">LNG</a>), up over 5%. </li>
</ul>
Large-cap companies slated to report their earnings after the close include Apple Inc, Amazon.com Inc, Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Atlassian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) and Coterra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRA#NYSE">CTRA</a>).
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41658754/microsoft-in-major-growth-mode-not-slowing-down-4-analysts-see-strong-azure-demand-">Microsoft &#8216;In Major Growth Mode,&#8217; Not Slowing Down: 4 Analysts See Strong Azure Demand, AI Monetization Efforts</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Macro Economic Events

Mid Cap

Broad U.S. Equity ETFs

Commodities

Econ #s

Economics

Federal Reserve

Tech

ETFs

$BTC

AAPL

AMGN

AMZN

BKNG

CMCSA

COIN

CTRA

CVNA

SPDR Dow Jones Industrial Average ETF Trust

EBAY

INTC

MSFT

MSTR

NCLH

REGN

SBUX

TEAM

UBER

Stocks Tumble, Nasdaq 100 Selloffs As Tech Giants Disappoint, Crypto Companies Plummet: What's Driving Markets Thursday?

On Thursday,&nbsp;Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) posted third-quarter revenues of $11.89 billion, beating the consensus of $11.28 billion, an increase of 8% year-over-year, or 10% when adjusted for foreign exchange impacts, primarily driven by the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">Growth Portfolio and&nbsp;Eliquis</a>.
Growth Portfolio worldwide revenues increased to $5.81 billion compared to $4.95 billion a year ago, representing growth of 18% on a reported basis or 20% when adjusted for <a href="https://www.benzinga.com/pressreleases/24/10/b41648596/bristol-myers-squibb-reports-third-quarter-financial-results-for-2024" target="_blank" rel="noreferrer noopener">foreign exchange impacts</a>.
Growth Portfolio revenues were primarily driven by higher demand for&nbsp;Reblozyl,&nbsp;Breyanzi,&nbsp;Camzyos, and&nbsp;Opdualag.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41184042/bristol-myers-10b-cancer-drug-opdivo-scores-expanded-use-fda-approval-for-lung-cancer-in-pre-and-" rel="noreferrer noopener">Bristol Myers&#8217; $10B Cancer Drug Opdivo Scores Expanded Use FDA Approval For Lung Cancer In Pre And Post-Surgery Setting</a>
Opdivo sales increased 4% to $2.36 billion, and global sales growth reflects increased volume. Abecma sales increased 33% to $124 million.
Anemia drug Reblozyl generated $447 million in third-quarter sales, up 80% from a year ago.
Revenues for the Legacy Portfolio in the third quarter were $6.08 billion compared to $6.02 billion a year ago, representing growth of 1% on a reported basis and adjusted for foreign exchange impacts.
Legacy Portfolio revenues were primarily driven by higher demand for&nbsp;Eliquis, partially offset by a decline in demand for&nbsp;Sprycel&nbsp;due to generic erosion. Eliquis sales reached $3 billion from $2.71 billion a year ago.
The company reported an adjusted EPS of $1.80, compared to an income of&nbsp;$2.00 a year&nbsp;ago, beating the consensus of $1.49. With cost-saving initiatives, the company <a target="_blank" href="https://www.bms.com/assets/bms/us/en-us/pdf/investor-info/doc_presentations/2024/BMY-2024-Q3-Results-Investor-Presentation-with-Appendix.pdf" rel="noreferrer noopener">anticipates</a> internal cost savings of around $1.5 billion in 2025.
Bristol Myers said the launch of its recently approved schizophrenia treatment, Cobenfy, is underway, with the majority of access anticipated by the <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">second half of 2025</a>.
Guidance:&nbsp;Bristol Myers Squibb forecasts 2024 adjusted EPS of $0.75-$0.95 versus prior guidance of $0.60-$0.90 and consensus of $0.71.
For 2024, the U.S. drugmaker expects 2024 revenue growth of around 6% compared to the upper end of the previously provided low <a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/39982236/bristol-myers-squibb-witnesses-strong-demand-for-newer-drugs-as-q2-earnings-beat-expectations-rai" rel="noreferrer noopener">single-digit range</a>.
Price Action: At the last check on Thursday, BMY stock was up 5.18% at $55.39.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41652230/uber-q3-earnings-31-million-daily-trips-1billion-op-income-ceo-not-looking-for-big-m-a-deals-cfo-ex" target="_blank" rel="noreferrer noopener">Uber Q3 Earnings: 31 Million Daily Trips, $1Billion Op Income, CEO Not Looking For Big M&amp;A Deals, CFO Expects To Grow Organically</a></li>
</ul>
Photo via Shutterstock

Earnings

Guidance

Bristol Myers Squibb Boosts 2024 Outlook On Strong Demand For Blood Thinner Med, New Drugs Drive Q3 Profit

WIIM

Bristol-Myers Squibb shares are trading higher after the company reported better-than-expected Q3 financial results and raised its FY24 adjusted EPS guidance above estimates.

Bristol Myers Squibb Expects 2024 Revenue Growth Of Around 6% Compared To Upper End Of Previously Provided Low Single-Digit Range

Financial Guidance&nbsp; Bristol Myers Squibb is raising its 2024 line-item guidance as noted below.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="3" rowspan="1">2024 Line-Item Guidance</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">Non-GAAP2</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">July&nbsp; (Prior)</td>
<td colspan="1" rowspan="1">October&nbsp; (Updated)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Revenues</td>
<td colspan="1" rowspan="1">Upper end of low single-&nbsp; digit range</td>
<td colspan="1" rowspan="1">~5% increase</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Revenues&nbsp; (excl. F/X)</td>
<td colspan="1" rowspan="1">Upper end of low single-&nbsp; digit range</td>
<td colspan="1" rowspan="1">~6% increase</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Gross Margin %</td>
<td colspan="1" rowspan="1">Between ~74% and ~75%</td>
<td colspan="1" rowspan="1">Between ~74.5% and ~75%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating Expenses1</td>
<td colspan="1" rowspan="1">Low single-digit increase</td>
<td colspan="1" rowspan="1">~4% to ~5% increase</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Other income/(expense)</td>
<td colspan="1" rowspan="1">~($50M)</td>
<td colspan="1" rowspan="1">~$125M</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Effective tax rate</td>
<td colspan="1" rowspan="1">~66%</td>
<td colspan="1" rowspan="1">~60%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Diluted EPS</td>
<td colspan="1" rowspan="1">$0.60 - $0.90</td>
<td colspan="1" rowspan="1">$0.75 - $0.95</td>
</tr>
</tbody>
</table>
</figure>

Bristol Myers Squibb Forecasts 2024 Adjusted EPS Of $0.75-$0.95 Versus Prior Guidance Of $0.60-$0.90 And Consensus Of $0.71

Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) reported quarterly earnings of $1.80 per share which beat the analyst consensus estimate of $1.49 by 20.81 percent. This is a 10 percent decrease over earnings of $2.00 per share from the same period last year. The company reported quarterly sales of $11.89 billion which beat the analyst consensus estimate of $11.28 billion by 5.46 percent. This is a 8.44 percent increase over sales of $10.97 billion the same period last year.

Bristol-Myers Squibb Q3 2024 Adj EPS $1.80 Beats $1.49 Estimate, Sales $11.89B Beat $11.28B Estimate

On Tuesday, Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) reported third-quarter sales of $12.823 billion, up 9% (+10% on constant currency), beating the <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41598312/novartis-q3-earnings-beats-expectations-on-strong-sales-from-key-drugs-lifts-2024-outlook" rel="noreferrer noopener">consensus of $12.76 billion</a>.
Guidance: Novartis also raised its 2024 full-year guidance again this year.
In a statement, Novartis said it expects full-year core operating income to grow by a &#8220;high teens&#8221; percentage, compared with previous guidance of a &#8220;mid-to-high teens&#8221; percentage.
Novartis forecasts full-year sales growth in the low double digits, having previously guided for high-single to low-double-digit growth.
Pelabresib filing was further delayed, triggering a $800 million impairment charge related to the $2.9 billion <a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38497134/morphosys-says-novartis-deal-progressing-steadily-despite-safety-concerns-over-bone-marrow-cancer" rel="noreferrer noopener">acquisition of MorphoSys</a>.
Earlier this year, MorphoSys faced&nbsp;a burgeoning safety concern surrounding&nbsp;pelabresib.
Goldman Sachs notes that MorphoSys-related impairment charge is somewhat underwhelming, raising doubts about the company&#8217;s M&amp;A strategy.
Truist notes that Novartis is concentrating on preparing the market for the PSMAFore label, which is expected to triple its addressable market.
They also pointed out that growth opportunities in China and Japan, and metastatic hormone-sensitive prostate cancer (mHSPC) and oligometastatic disease, could push Pluvicto&#8217;s sales well above the projected $2 billion peak.
The company is committed to maximizing the potential of Pluvicto and its radioligand therapy (RLT) portfolio.
For other radiopharmaceutical companies targeting PSMA, entering this market may become more challenging.
A crucial question remains regarding the standards that must be met to compete with more effective radioligand products. This context relates to companies such as Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), which have RLT products in their pipelines, as well as smaller companies, including Y-mAbs Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YMAB#NASDAQ">YMAB</a>) and Perspective Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATX#NASDAQ">CATX</a>).
Novartis highlighted continued strong growth and momentum and sees room to grow the market size for B-cell inhibition in multiple sclerosis, relating Biogen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>).
Truist highlights Novartis&#8217; strong balance sheet, which enables further bolt-on deals and share buybacks. Recent transactions primarily involve deals in the sub-$1 billion range, along with a few larger bolt-on acquisitions.
A Truist analyst indicated that they will be monitoring how the adoption of Leqvio may affect Amgen Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) Repatha and Regeneron Pharmaceuticals Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) Praluent. Meanwhile, Novartis has reported that the launch is advancing smoothly, and Leqvio continues to grow, outpacing the overall market as per the management.
Novartis&#8217; Cosentyx witnessed strong uptake and continued brand growth driven by hidradenitis suppurativa expansion, and the market opportunity can accommodate several players, Abbvie Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NASDAQ">ABBV</a>), Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>), and Kymera Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KYMR#NASDAQ">KYMR</a>).
Price Action: NVS stock is down 0.48% at $110.00 at last check Wednesday.
Photo by Taljat David via Shutterstock
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Positive Outlook For Novartis As Company Capitalizes On Growing Treatment Opportunities, Analyst Highlights

Last week, Lyell Immunopharma Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYEL#NASDAQ">LYEL</a>) agreed to acquire ImmPACT Bio USA Inc., a privately owned clinical-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41529414/lyell-immunopharma-to-acquire-immpact-bio-and-prioritizes-its-pipeline-to-focus-on-next-generation" rel="noreferrer noopener">stage biotechnology company</a>.
Lyell has prioritized its pipeline to focus resources on its most differentiated CAR T-cell clinical programs, including IMPT-314 following the close of the acquisition and LYL119.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/06/39510265/lyell-immunopharma-shares-plunge-on-one-patient-death-in-car-t-cell-therapy-cancer-trial" rel="noreferrer noopener">Lyell Immunopharma Shares Plunge On One Patient Death In CAR-T Cell Therapy Cancer Trial</a>
Lyell announced the discontinuation of the development of LYL797 to focus on the Phase 1 clinical trial of LYL119, which is expected to initiate enrollment of patients with platinum-resistant ovarian cancer or relapsed/refractory endometrial cancer this year or early next year.
The LYL845 tumor-infiltrating lymphocyte (TIL) program is also being discontinued, as the clinical data in patients with advanced melanoma did not meet pre-determined criteria for continued development.
Its next-generation TIL and rejuvenation programs that are in preclinical development will also be discontinued.
Lyell expects its cash balance to fund operations into 2027.
Deal terms include upfront consideration of $30 million in cash and 37.5 million Lyell shares.
ImmPACT shareholders will also be eligible for contingent consideration consisting of 12.5 million Lyell shares and a low single-digit royalty on future net sales.
BofA Securities has downgraded Lyell from Buy to Underperform, with a price target of $1, <a target="_blank" href="https://www.benzinga.com/quote/LYEL/analyst-ratings" rel="noreferrer noopener">down from $6</a>.
The analyst said, &#8220;While discontinuation of &#8216;797 isn&#8217;t a surprise, we think optimism is growing for next-gen &#8216;119&#8217;s improved therapeutic window.&#8221;
The acquisition of ImmPACT Bio for its IMPT-314 introduces complexities that could cloud the narrative. The analyst added that while the potential of &#8216;314 is visible, the program appears to lack clinical and commercial synergy, and with limited resources and rising competition, it risks becoming a distraction.
An analyst noted that with Lyell's focus on restarting its solid tumor program and expanding into hematology, it's challenging to maintain a positive outlook.
It remains uncertain if IMPT-314 can provide significant clinical improvements, and it will likely face tough competition from established players like Gilead Sciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), and Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>).
Price Action: LYEL stock is down 9.16% at $0.86 at last check Wednesday.
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Lyell Immunopharma Downgraded, Analyst Flags Concerns Over Acquisition Strategy

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com%2F&amp;esheet=54142497&amp;newsitemid=20241025717199&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=ab7420514e0e799002bf7417ad3b12e0">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced that new clinical and health economics and outcomes research data (HEOR) from its neuropsychiatry portfolio evaluating COBENFY&#x2122; (xanomeline and trospium chloride) in schizophrenia in adults will be presented at Psych Congress 2024, taking place October 29 – November 2 in Boston, Massachusetts.
"Building on momentum from the recent U.S. Food and Drug Administration's approval of COBENFY for the treatment of schizophrenia in adults, we're pleased to be sharing additional data at Psych Congress from the EMERGENT clinical trial program that further highlights the differentiated clinical profile of COBENFY, including efficacy, safety, and patient reported outcomes of adults with schizophrenia who participated in our long-term clinical trials," said <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bms.com%2Fresearchers-and-partners%2Four-r-and-d-team%2Fresearchers-bios%2Ffeatured-researcher-alyssa-johnsen.html&amp;esheet=54142497&amp;newsitemid=20241025717199&amp;lan=en-US&amp;anchor=Alyssa+Johnsen%2C+MD%2C+PhD&amp;index=2&amp;md5=43fcec4e1c956f2d65ceec7ffc2a2226">Alyssa Johnsen, MD, PhD</a>, senior vice president and head of clinical development, Immunology, Cardiovascular and Neuroscience, Bristol Myers Squibb. "As we continue to strengthen our neuropsychiatry portfolio, we remain committed to developing and delivering differentiated options for patients."
Research to be presented at the meeting continues to demonstrate COBENFY as a differentiated treatment option for adults living with schizophrenia. Notable data poster presentations include:
Clinical:
<ul>
<li>Long-Term Safety and Efficacy of Xanomeline and Trospium Chloride in Schizophrenia: Results from the 52-Week, Open-Label EMERGENT-4 Trial</li>
<li>Long-Term Safety, Tolerability, and Efficacy of Xanomeline and Trospium Chloride in People with Schizophrenia: Results From the 52-Week, Open-Label EMERGENT-5 Trial</li>
<li>Patient Satisfaction with Xanomeline and Trospium Chloride Treatment for Schizophrenia: A Qualitative Interview-Based Study</li>
<li>Changes in Quality of Life for Schizophrenia Outpatients Receiving the Muscarinic Agonist Xanomeline and Trospium: Findings of a Qualitative Interview-Based Study</li>
</ul>
HEOR:
<ul>
<li>Negative symptoms and cognitive impairment in US patients with schizophrenia: a real-world descriptive study using the NeuroBlu database</li>
<li>Comparative Efficacy, Safety, and Tolerability of Xanomeline and Trospium Chloride versus Eight Atypical Antipsychotics for the Acute Treatment of Adults with Schizophrenia – A Network Meta-Analysis</li>
<li>Current Estimates of the Incidence and Prevalence of Schizophrenia in the U.S.</li>
</ul>
A full list of Bristol Myers Squibb presentations at Psych Congress is below. All presentations will take place in the Exhibit Hall on Thursday, October 31 and Friday, November 1 from 1:30 – 3:00 p.m. ET. For more information, please visit the Psych Congress website <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.hmpglobalevents.com%2Fpsych-congress&amp;esheet=54142497&amp;newsitemid=20241025717199&amp;lan=en-US&amp;anchor=here&amp;index=3&amp;md5=7e37b8b696ffa15c118d03c61996ad29">here</a>.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Abstract Title</td>
<td colspan="1" rowspan="1">Primary Author</td>
<td colspan="1" rowspan="1">Type</td>
</tr>
<tr>
<td colspan="3" rowspan="1">Clinical Data</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Long-Term Safety and Efficacy of Xanomeline and Trospium Chloride in Schizophrenia: Results from the 52-Week, Open-Label EMERGENT-4 Trial</td>
<td colspan="1" rowspan="1">Kaul, I.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Long-Term Safety, Tolerability, and Efficacy of Xanomeline and Trospium Chloride in People with Schizophrenia: Results From the 52-Week, Open-Label EMERGENT-5 Trial</td>
<td colspan="1" rowspan="1">Kaul, I.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Patient Satisfaction with Xanomeline and Trospium Chloride Treatment for Schizophrenia: A Qualitative Interview-Based Study</td>
<td colspan="1" rowspan="1">Horan, W.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Changes in Quality of Life for Schizophrenia Outpatients Receiving the Muscarinic Agonist Xanomeline and Trospium: Findings of a Qualitative Interview-Based Study​</td>
<td colspan="1" rowspan="1">Weiden, P.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Efficacy of Xanomeline and Trospium Chloride in Schizophrenia: Post Hoc Analyses of Data Pooled From Three 5-Week, Randomized, Double-Blind, Placebo-Controlled EMERGENT Trials ​</td>
<td colspan="1" rowspan="1">Kaul, I.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Xanomeline and Trospium Chloride for the Treatment of Agitation in Schizophrenia: PANSS-EC Results From Three Randomized, Double-Blind, Placebo-Controlled Trials</td>
<td colspan="1" rowspan="1">Yeung, P.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Long-Term Metabolic Outcomes Associated With Xanomeline and Trospium Chloride: Interim Results From Pooled, Long-Term Safety Studies EMERGENT-4 and EMERGENT-5​</td>
<td colspan="1" rowspan="1">Claxton, A.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Assessing Participant Experience With Xanomeline and Trospium Chloride Treatment Using In-Trial Qualitative Interviews: Perceived Effect on Symptoms During a Long-Term Phase 3 Trial in Schizophrenia</td>
<td colspan="1" rowspan="1">Horan, W.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="3" rowspan="1">Health Economics and Outcomes Research</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Negative symptoms and cognitive impairment in US patients with schizophrenia: a real-world descriptive study using the NeuroBlu database</td>
<td colspan="1" rowspan="1">Lipunova, N., Holmusk Technologies, Inc.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Comparative Efficacy, Safety, and Tolerability of Xanomeline and Trospium Chloride versus Eight Atypical Antipsychotics for the Acute Treatment of Adults with Schizophrenia – A Network Meta-Analysis</td>
<td colspan="1" rowspan="1">Hickey, C., Lumanity</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Current Estimates of the Incidence and Prevalence of Schizophrenia in the U.S.</td>
<td colspan="1" rowspan="1">Cajigal, A.</td>
<td colspan="1" rowspan="1">Poster</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

Bristol Myers Shares New Data on COBENFY for Schizophrenia at Psych Congress, Highlighting Long-Term Safety and Patient Satisfaction

Citigroup analyst Andrew Baum downgrades Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) from Buy to Neutral and lowers the price target from $75 to $55.

Citigroup Downgrades Bristol-Myers Squibb to Neutral, Lowers Price Target to $55

Financial giants have made a conspicuous bearish move on Bristol-Myers Squibb. Our analysis of options history for Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) revealed 12 unusual trades.
Delving into the details, we found 8% of traders were bullish, while 83% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $380,478, and 7 were calls, valued at $466,355.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $60.0 for Bristol-Myers Squibb during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Bristol-Myers Squibb's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Bristol-Myers Squibb's substantial trades, within a strike price spectrum from $45.0 to $60.0 over the preceding 30 days.
<h3>Bristol-Myers Squibb 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729714529_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BMY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$0.87</td>
<td>$0.86</td>
<td>$0.86</td>
<td>$55.00</td>
<td>$123.0K</td>
<td>18.5K</td>
<td>3.2K</td>
</tr>
<tr>
<td>BMY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$11.3</td>
<td>$10.7</td>
<td>$10.7</td>
<td>$45.00</td>
<td>$96.2K</td>
<td>2.1K</td>
<td>93</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$9.95</td>
<td>$9.75</td>
<td>$9.95</td>
<td>$60.00</td>
<td>$93.5K</td>
<td>236</td>
<td>95</td>
</tr>
<tr>
<td>BMY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$0.9</td>
<td>$0.87</td>
<td>$0.87</td>
<td>$55.00</td>
<td>$91.6K</td>
<td>18.5K</td>
<td>1.8K</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$0.91</td>
<td>$0.88</td>
<td>$0.91</td>
<td>$52.00</td>
<td>$91.0K</td>
<td>589</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h3>About Bristol-Myers Squibb</h3>
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.
Following our analysis of the options activities associated with Bristol-Myers Squibb, we pivot to a closer look at the company's own performance.
<h3>Bristol-Myers Squibb's Current Market Status</h3>
<ul>
<li>Trading volume stands at 5,531,850, with BMY's price up by 0.57%, positioned at $53.06.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 8 days.</li>
</ul>
<h3>What The Experts Say On Bristol-Myers Squibb</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $54.4.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Bristol-Myers Squibb with a target price of $59. 
&#x2A; An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $56. 
&#x2A; Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $50. 
&#x2A; Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Bristol-Myers Squibb with a target price of $53. 
&#x2A; An analyst from UBS has decided to maintain their Neutral rating on Bristol-Myers Squibb, which currently sits at a price target of $54. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bristol-Myers Squibb with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

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Unpacking the Latest Options Trading Trends in Bristol-Myers Squibb

EF Hutton has initiated coverage on ImmunityBio Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>), a vertically integrated biotechnology company developing therapies and vaccines to bolster the natural immune system for cancers and infectious diseases.
In April this year, the FDA approved &nbsp;ImmunityBio&#8217;s Anktiva (N-803, or&nbsp;nogapendekin&nbsp;alfa&nbsp;inbakicept-pmln) plus Bacillus Calmette-Guérin (BCG) for BCG-unresponsive non-muscle invasive bladder cancer with carcinoma in situ,&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38380405/fda-approves-immunitybios-bladder-cancer-drug-stock-rallies" rel="noreferrer noopener">with or without papillary tumors</a>.
The analyst writes, &#8220;Anktiva has the potential to revolutionize cancer immunotherapy by enhancing the efficacy of immune-based treatments, particularly in BCG-unresponsive non-muscle invasive bladder cancer (NMIBC).&#8221;
The analyst writes that clinical trials have shown that Anktiva delivers high complete response rates and long-term disease control, indicating its potential to enhance patient outcomes. This could minimize the need for radical surgeries while broadening the range of available immuno-oncology treatments.
The analyst initiates with a Buy rating and a price target of $30, an astonishing <a target="_blank" href="https://www.benzinga.com/quote/IBRX/analyst-ratings" rel="noreferrer noopener">upside of over 800%</a>.
EF Hutton writes that Anktiva can potentially broaden the effectiveness of cancer immunotherapy, especially when paired with checkpoint inhibitors. It boosts the activity of natural killer (NK) and CD8+ T cells, which may help &#8220;heat&#8221; cold tumors, making them more receptive to immune checkpoint therapies.
Last month, ImmunityBio revealed results from its QUILT 3.055 trial demonstrating long-term extended survival of 14 months to as much as five years for patients with advanced non-small cell lung cancer (NSCLC) treated with <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40771855/immunitybio-presents-positive-long-term-overall-survival-data-in-non-small-cell-lung-cancer-patien" rel="noreferrer noopener">checkpoint inhibitors (CPI)</a>.
The phase 2b study of ANKTIVA in combination with checkpoint inhibitors such as Merck &amp; Co Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) Keytruda or Bristol Myer Squibb &amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Opdivo in multiple tumor types, including NSCLC who failed CPI, showed long-term overall survival of 57% (49/86) and 34% (29/86) at 12 and 18 months, respectively, exceeding the current standard of care.
Price Action: IBRX stock is down 1.58% at $3.43 at the last check Wednesday.
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Evotec SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) shares rose on Wednesday following news of advancements in its strategic partnership with Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), which is <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/ac41479364/evotec-and-bristol-myers-squibb-expand-proteomics-partnership" rel="noreferrer noopener">focused on developing a molecular glue-based pipeline.</a>
Significant scientific advancements are broadening the pipeline of molecular glue degraders into fields beyond oncology, leading to a $50 million program-based payment for Evotec.
Evotec and Bristol Myers Squibb began their strategic partnership in protein degradation in 2018.
In May 2022, the company extended and expanded its partnership with Bristol Myers Squibb for another 8 years. In August this year,&nbsp;Evotec announced progress in its strategic partnership with&nbsp;Bristol Myers, as performance-based and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/ac40329769/evotec-announces-strong-progress-in-strategic-protein-degradation-partnership-with-bristol-myers-" rel="noreferrer noopener">program-based achievements trigger payments totaling $75 million.</a>
Cord Dohrmann, Chief Scientific Officer of Evotec, expressed enthusiasm about the expanded partnership with Bristol Myers Squibb, highlighting its focus on addressing significant unmet medical needs beyond oncology.
This expansion also enhances the overall value of the deal through potential program-based milestones.
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>
Evotec has significantly increased its efforts to develop innovative compounds from Bristol Myers Squibb&#8217;s top-tier library of cereblon E3 ligase modulators (CELMoDs).
The partnership continues to deliver on its goal by adding a diverse pipeline of novel molecular glue degraders for high-value targets, extending beyond oncology.
Dohrmann emphasized that the collaboration is creating an impressive pipeline of first-in-class products and looks forward to advancing their joint programs toward clinical validation for patient benefit.
Price Action: EVO shares are trading higher by 7.49% to $3.515 at last check Wednesday.
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Why Is Evotec Stock Gaining Today?

Redwire Announced That It Is Launching An Investigation To The International Space Station In Partnership With Global Leading Biopharmaceutical Company Bristol Myers Squibb To Study Model Small Molecule Compounds

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<li>
Key scientific achievements drive the expansion of the pipeline of molecular glue degraders in fields beyond oncology
</li>
<li>
Evotec receives a US$ 50 m payment from Bristol Myers Squibb; potential programme-based milestone payments contribute to the deal value
</li>
</ul>

Evotec And Bristol Myers Squibb Strengthen Proteomics Partnership With $50M Payment, Expanding Molecular Glue Pipeline

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