real-time news and commentary for investors
Monday, Oct 28
New data, Morgan Stanley upgrade send Bristol-Myers higher
- Bristol-Myers Squibb (BMY +5.6%) rallies after saying over the weekend that clazakizumab appears to be comparable to Humira (ABBV +1%) in reducing the symptoms of RA when taken in combination with methotrexate.
- BMY also released new data from the lung cancer cohort of Study 003 (Phase 1 nivolumab trial) which showed 42% and 24% of heavily pre-treated NSCLC patients were alive after one and two years, respectively.
- Here's Morgan Stanley: “Upgrading to Overweight and raising PT from $45 to $60 after raising 2020E EPS by 27%; $60 PT is up 23% from Friday's close. BMY is the leading contender to transform cancer treatment with new drugs that boost the immune system.”