Bristol-Myers Squibb's Opdivo Receives FDA Priority Review
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 21 2024
0mins
Should l Buy BMY?
Source: NASDAQ.COM
Bristol-Myers Squibb Co (BMY) saw a price increase of 3.01%, reaching a 20-day high, despite the Nasdaq-100 and S&P 500 experiencing declines of 0.51% and 0.24%, respectively.
This surge is attributed to the FDA granting priority review for Bristol-Myers Squibb's Opdivo for Hodgkin lymphoma, marking a significant milestone in treatment options for patients. The acceptance of the supplemental Biologics License Application is based on promising clinical trial data, which indicates the potential for improved patient outcomes and solidifies the company's position in oncology.
The FDA's decision is expected to enhance investor confidence and may lead to increased market interest in Bristol-Myers Squibb's innovative therapies, particularly as the company continues to advance its pipeline in oncology and immunotherapy.
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Analyst Views on BMY
Wall Street analysts forecast BMY stock price to fall
20 Analyst Rating
8 Buy
11 Hold
1 Sell
Moderate Buy
Current: 58.960
Low
37.00
Averages
55.86
High
68.00
Current: 58.960
Low
37.00
Averages
55.86
High
68.00
About BMY
Bristol-Myers Squibb Company is a global biopharmaceutical company. It is engaged in the discovery, development, and delivery of transformational medicines for patients facing serious diseases in areas: oncology, hematology, immunology, cardiovascular, neuroscience and other areas. Its growth portfolio includes Opdivo (nivolumab), Opdivo Qvantig (nivolumab and hyaluronidase-nvhy), Orencia (abatacept), Yervoy (ipilimumab), Reblozyl (luspatercept-aamt), Breyanzi (lisocabtagene maraleucel), Opdualag (nivolumab and relatlimab-rmbw), Camzyos (mavacamten), Zeposia (ozanimod), Abecma (idecabtagene vicleucel), Sotyktu (deucravacitinib), Krazati (adagrasib), and Cobenfy (xanomeline and trospium chloride). Its other growth products include Augtyro, Onureg, Inrebic, Nulojix, and Empliciti. Its legacy portfolio includes Eliquis (apixaban), Revlimid (lenalidomide), Pomalyst/Imnovid (pomalidomide), Sprycel (dasatinib), and Abraxane (paclitaxel albumin-bound particles for injectable suspension).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Optimistic Future Growth Guidance: Johnson & Johnson raised its full-year guidance, projecting revenue growth between 5.9% and 6.9%, with adjusted EPS expectations increased to a range of $11.45 to $11.65, indicating the company's confidence in future performance and positive market outlook.
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