Scotiabank analyst Louise Chen increased the price target for Bristol-Myers Squibb Company (NYSE:BMY) to $60 from $53 on January 9, while keeping a Sector Perform rating. Chen noted investors are drawn to the stock due to its low valuation and a "catalyst-rich" 2026.
On January 12, Bristol-Myers Squibb announced positive topline results from its Phase 3 SCOUT-HCM trial. The study evaluated Camzyos (mavacamten) in teenagers with symptomatic obstructive hypertrophic cardiomyopathy. It met its primary and many secondary endpoints, with a safety profile similar to that seen in adults. This trial was the first Phase 3 assessment of a cardiac myosin inhibitor for patients with this condition aged 12 to under 18.
Bristol-Myers Squibb is a global biopharmaceutical company focused on oncology. The firm develops immuno-oncology and targeted therapies for various cancers, supported by an extensive clinical pipeline and a history in cancer research.