Overview
- UBS on January 7 upgraded Bristol Myers to Buy and lifted its price target to $65, citing a skewed risk/reward and three to four potential triggers that could lift the stock in the second half of 2026.
- Leerink on January 13 raised its price target to $60 with an Outperform rating, pointing to 12 registration readouts across eight assets in 2026 that the market largely discounts.
- Scotiabank on January 9 increased its price target to $60 and highlighted investor interest driven by low valuation and a catalyst-rich year ahead.
- Bristol Myers reported positive Phase 3 SCOUT-HCM topline results for Camzyos in adolescents with symptomatic obstructive hypertrophic cardiomyopathy, meeting the primary and multiple secondary endpoints with safety comparable to adults.
- Analysts continue to flag steep loss-of-exclusivity risk through 2028, with UBS estimating $20–30 billion in potential revenue impact even as the current share price is seen as reflecting much of that pressure.