Bristol-Myers Squibb에 대한 매도 수량은 투자자에게 Bristol-Myers Squibb의 주식 하락에 베팅하는 정도를 알려줍니다. 매도 수량 데이터는 2주마다 업데이트됩니다.

Bristol-Myers Squibb (NYSE:BMY) 주식, 공매도 수량 보고

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.

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기술기업들 수익 시즌은 거래 주간 동안 매그니피센트 세븐 회사들의 주가가 모두 하락함에 따라 투자자들의 실망으로 시작되었다. 알파벳(NASDAQ:GOOGL)은 예상보다 높은 매출과 이익을 발표했지만, 유튜브 광고 매출에 대한 분석가들의 목표를 달성하지 못해 구글의 모회사 주가가 올해 최악의 한 주가 되었다.

이번 주 시장 동향: 기술주가 수익률 하락, 강력한 미국 경제로 소형주는 계속 상승세

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금요일 아침 (현지 시간 기준) 미국 주식 선물이 더 높게 거래되면서 오늘 투자자의 관심을 끌 수 있는 일부 주식은 다음과 같다: 월스트리트는 브리스톨-마이어스 스퀴브(NYSE:BMY)가 개장 전 115억 5천만 달러의 매출과 주당 1.63달러의 분기 이익을 보고할 것으로 예상하고 있다. Benzinga Pro의 데이터에 따르면, 브리스톨-마이어스 스퀴브의 주가는 시간외 거래에서 0.4% 하락한 45.10달러를 기록했다.

금요일 주목해야 할 주식: 브리스톨-마이어스 스퀴브, 데커스 아웃도어 그리고 3종목

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S&amp;P 500 기업들 중 약 14%가 6월 분기 실적을 발표했으며, 더 넓은 지수를 구성하는 기업들의 혼합 실적 성장률은 여전히 ​​양호하다. 이번 주에는 기술 보고 시즌이 공식적으로 시작될 것이며, 이는 최근 주에 가파른 하락세를 보인 시장의 향방을 잠재적으로 결정할 수 있다.

테슬라, 알파벳, GM 및 포드가 이번 주 실적 발표 주도하며 상승세 유지 위해 고군분투

Bristol-Myers Squibb Company Common Stock

Bristol-Myers Squibb Co

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

BRISTOL MYERS SQUIBB ORD

On Thursday, the FDA approved Bristol Myers Squibb &amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Opdivo&nbsp;(nivolumab) for resectable non-small cell lung cancer (NSCLC) and no known epidermal growth factor&nbsp;receptor (EGFR) mutations or anaplastic lymphoma kinase (ALK) rearrangements, for neoadjuvant treatment, in combination with platinum-doublet chemotherapy,&nbsp;followed by single-agent&nbsp;Opdivo&nbsp;as adjuvant <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41176061/u-s-food-and-drug-administration-approves-perioperative-treatment-of-neoadjuvant-opdivo-nivolumab-" rel="noreferrer noopener">treatment after surgery</a>.
The approval is based on results from the CheckMate-77T trial, the company&#8217;s second Phase 3 trial with an immunotherapy-based combination for resectable NSCLC.
Opdivo&nbsp;is now the only PD-1 inhibitor to demonstrate statistically significant and clinically meaningful benefits in this disease versus chemotherapy in both a neoadjuvant-only regimen and as part of a perioperative regimen.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41028913/bristol-myers-2seventy-bio-halt-phase-3-trial-for-abecma-in-newly-diagnosed-myeloma" rel="noreferrer noopener">Bristol Myers-2seventy Bio Halt Phase 3 Trial For Abecma In Newly Diagnosed Myeloma Patients, Speeds Path To Profitability</a>.
The risk of disease recurrence, progression, or death was reduced by 42% in patients treated in the&nbsp;Opdivo&nbsp;arm, compared to the chemotherapy and placebo arm, with a median follow-up of 25.4 months.
In addition, 18-month event-free survival (EFS) was demonstrated in 70% of patients in the&nbsp;Opdivo&nbsp;arm, compared to 50% in the chemotherapy and placebo arm.
Furthermore, 25% of patients in the&nbsp;Opdivo&nbsp;arm achieved pathologic response (pCR) in the intent-to-treat population, while 4.7% of patients in the comparator arm achieved pCR.
As the U.S. pharma giant seeks to cover itself from the patent cliff related to top-selling drugs Eliquis (apixaban) and Opdivo (nivolumab), the company recently received FDA approval for Cobenfy (xanomeline and trospium chloride, KarXT), an oral medication for&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41073709/absence-of-black-box-warning-for-bristol-myers-schizophrenia-treatment-could-enhanc" rel="noreferrer noopener">schizophrenia in adults</a>.
As per its <a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/14272/000001427224000044/bmy-20231231.htm" rel="noreferrer noopener">latest</a> 10K filing, Eliquis&#8217; U.S. patent is expected to expire in 2026.
Opdivo&#8217;s U.S. patent loss is expected in 2028, Europe in 2030, and Japan in 2031.
Another cancer drug, Yervoy&nbsp;(ipilimumab), is expected to lose market exclusivity in 2025 in the U.S. and Japan and 2026 in Europe.
Price Action: BMY stock is down 1.07% at $53.62 during the premarket session at last check Friday.
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General

Bristol Myers' $10B Cancer Drug Opdivo Scores Expanded Use FDA Approval For Lung Cancer In Pre And Post-Surgery Setting

Bristol Myers Squibb Says FDA Approved Perioperative Treatment Of Neoadjuvant Opdivo (Nivolumab) And Chemotherapy Followed By Surgery And Adjuvant Single-Agent Opdivo For Resectable Non-Small Cell Lung Cancer

FDA Approves Neoadjuvant/Adjuvant Nivolumab For Resectable Non-small Cell Lung Cancer

Investors with a lot of money to spend have taken a bearish stance on Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BMY, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 15 uncommon options trades for Bristol-Myers Squibb.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $265,783, and 10 are calls, for a total amount of $657,729.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $70.0 for Bristol-Myers Squibb over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Bristol-Myers Squibb's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bristol-Myers Squibb's whale trades within a strike price range from $40.0 to $70.0 in the last 30 days. 
<h3>Bristol-Myers Squibb Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727806573_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</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>01/17/25</td>
<td>$2.99</td>
<td>$2.92</td>
<td>$2.91</td>
<td>$52.50</td>
<td>$145.4K</td>
<td>15.7K</td>
<td>1.0K</td>
</tr>
<tr>
<td>BMY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$2.92</td>
<td>$2.89</td>
<td>$2.92</td>
<td>$52.50</td>
<td>$142.7K</td>
<td>15.7K</td>
<td>548</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$8.15</td>
<td>$7.95</td>
<td>$8.15</td>
<td>$57.50</td>
<td>$73.3K</td>
<td>17</td>
<td>92</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.85</td>
<td>$4.6</td>
<td>$4.6</td>
<td>$52.50</td>
<td>$69.0K</td>
<td>2.5K</td>
<td>188</td>
</tr>
<tr>
<td>BMY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$3.8</td>
<td>$3.7</td>
<td>$3.7</td>
<td>$49.00</td>
<td>$67.3K</td>
<td>7.1K</td>
<td>182</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>Present Market Standing of Bristol-Myers Squibb</h3>
<ul>
<li>Currently trading with a volume of 8,110,986, the BMY's price is up by 1.88%, now at $52.72. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 30 days.</li>
</ul>
<h3>What The Experts Say On Bristol-Myers Squibb</h3>
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $50.333333333333336.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from BMO Capital has decided to maintain their Market Perform rating on Bristol-Myers Squibb, which currently sits at a price target of $53. 
&#x2A; An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $50. 
&#x2A; Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Bristol-Myers Squibb, targeting a price of $48. 
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.

Options

This Is What Whales Are Betting On Bristol-Myers Squibb

On Tuesday, IGM Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGMS#NASDAQ">IGMS</a>) announced a strategic pivot and pipeline transformation to accelerate and deepen its leadership in developing T cell-engaging IgM antibodies <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g41103117/igm-biosciences-announces-strategic-pivot-to-focus-exclusively-on-autoimmunity" rel="noreferrer noopener">for autoimmune diseases</a>.
The company&#8217;s lead candidates include imvotamab, which is being developed for rheumatoid arthritis, systemic lupus erythematosus, and myositis, and IGM-2644, which is expected to enter a clinical study for generalized myasthenia gravis by the end of 2024.
IGM to minimize future spending on aplitabart and other oncology candidates.&nbsp;
In light of the emerging data from the company&#8217;s ongoing randomized clinical trial of aplitabart in second-line metastatic colorectal cancer, together with the significant opportunity in autoimmunity, the company has decided to reduce workforce and minimize its future spending on the research and clinical development of aplitabart and other oncology candidates.
The company expected to release aplitabart top-line progression-free survival results from randomized colorectal cancer trial by the end of the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40362024/igm-biosciences-announces-second-quarter-2024-financial-results-and-provides-corporate-update" rel="noreferrer noopener">first quarter of 2025</a>.
As a result of these actions, IGM believes it can extend its current cash runway into 2027.
As part of the company&#8217;s strategic pivot to autoimmunity, Fred Schwarzer, CEO, President, and Director, and Bruce Keyt, chief scientific officer, will step down from their current roles.
IGM has appointed ex-Bristol Myers Squibb &amp; Co&#8217;s executive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Mary Beth Harler as the CEO.
Chris Takimoto, Chief Medical Officer, has also announced to step down.
Price Action: IGMS stock is down 13.20% at $14.36&nbsp;at the last check on Tuesday.
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<li><a href="https://www.benzinga.com/general/biotech/24/10/41118751/eli-lilly-eyes-new-trials-for-weight-loss-drugs-in-non-obese-patients" target="_blank" rel="noreferrer noopener">Eli Lilly Eyes New Trials For Weight-Loss Drugs In Non-Obese Patients</a>.</li>
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IGM Biosciences' New Found Focus: Pivots From Cancer To Autoimmune Diseases, Names New CEO

Edgewise Therapeutics (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ewtx#NASDAQ">EWTX</a>) is a small-cap <a href="https://www.marketbeat.com/compare-stocks/pharmaceutical-stocks/">pharmaceutical stock</a> that has been all the rage recently. Shares are up 55% in the last three months and up 332% over the past 52 weeks. Yet, with still only a market cap of $2.4 billion, is there still time to get in? I&#39;ll examine recent news around the company, its <a href="https://edgewisetx.com/science-pipeline/pipeline/">drug pipeline</a>, and what Wall Street is saying to get a better handle on this question.
<h3>Edgewise&#39;s Muscular Dystrophy Treatments Have Large Market Than Others</h3>
Edgewise currently has two drugs that are driving the company. They are Sevasemten and EDG-7500. The company is researching Sevasemten to treat muscular dystrophy (MD). One interesting thing about this medicine is that it is being researched to treat multiple types of MD.
Specifically, it is currently in Phase 3 trials to treat Becker MD and in Phase 2 trials for Duchenne MD. Many medicines are being researched only on one form of MD. So, the possibility that they could apply to both is a strong differentiator for the company.
However, this is likely because the treatment manages symptoms. It does not target the genetic cause of Duchenne MD. The root cause of Duchenne and Becker is different, but the symptoms are similar.
Still, this treatment could be valuable and could theoretically be used in conjunction with genetic treatments. The focus on treatment management opens the product up to the entire MD market rather than a sliver of it; another potential benefit.
In its latest results for Becker, the drug showed it actually slightly improved muscle function after 24 months. Those given a placebo showed significantly worse function. Becker MD currently has no approved treatments. The company estimates there are currently around 47,000 people with one of the diseases in the US, EU, and Japan combined.
<h3>&nbsp;EDG-7500 Results Show It Keeps Up With The Competition</h3>
The company&#39;s other main drug, EDG-7500, is a cardiovascular medicine. Specifically, it works to treat hypertrophic cardiomyopathy (HCM). Recent good news around this drug was why shares of Edgewise <a href="https://www.marketbeat.com/stock-ideas/edgewise-therapeutics-soars-50-key-reasons-behind-the-surge/">jumped 50% in one day</a>. HCM primarily affects the left ventricle of the heart, causing its walls to thicken. The left ventricle is the main pumping station of the heart. pumped. The thickening makes it hard for the left ventricle to pump blood and can result in heart failure.
On average, the study revealed that a biomarker linked to heart stress decreased by 64%. Another measurement of how well the heart is pumping blood is the left ventricular ejection fraction (LVEF).
The results showed that all the patients maintained a normal level of LVEF. Thus, the treatment reduced stress on the heart without interfering with its ability to pump. The market for this treatment is much larger, affecting up to 630,000 people in the United States alone.
However, HCM does have an approved treatment: <a href="https://www.marketbeat.com/stocks/NYSE/BMY/">Bristol Myers Squibb&#39;s (NYSE: </a><a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) Camzyos. The drug showed a <a href="https://news.bms.com/news/corporate-financial/2022/Mavacamten-Demonstrated-Significant-Reduction-in-Need-for-Septal-Reduction-Therapy-in-Symptomatic-Obstructive-HCM-Patients-in-Phase-3-VALOR-Trial/default.aspx#:~:text=Improvement%20in%20biomarkers%20of%20cardiac,greater%20(p%3C0.0001).">67% reduction</a> in the same biomarker as EDG-7500. However, a very small number of patients did see their LVEF levels fall below normal. At this point, the drugs appear to have similar levels of safety and efficacy. Two and a half years ago, Camzyos received approval. It generated $139 million last quarter, up by 184% from the previous year.
<a href="https://www.marketbeat.com/stocks/NASDAQ/CYTK/">Cytokinetics&#39; (NASDAQ: </a><a class="ticker" href="https://www.benzinga.com/stock/cytk#NASDAQ">CYTK</a>) aficamten, another competitor, is further along but has yet to receive approval. <a href="https://www.fiercebiotech.com/biotech/edgewise-therapeutics-heart-med-candidate-sends-shares-soaring-early-data">According to Fierce Biotech</a>, analysts at Mizuho Securities say the results of the two drugs look similar.
When it comes to Wall Street, several analysts still see significant upside in Edgewise. At least four firms have increased their price targets on Edgewise since it released Phase 2 results for EDG-7500.
Based on the average of those four targets, the implied upside of Edgewise is 55%, based on the Sept. 24 closing price of nearly $26. The most bullish analyst, Wedbush, thinks Edgewise could rise 70%.
<h3>Final Thoughts On Edgewise</h3>
At the end of the day, the party is certainly not over for Edgewise until it is. More good news about the drug treatments would continue to boost the stock price. But, it will take a long time for sales to justify its high valuation. The probability of treatments getting approved is low, at around <a href="https://www.cbo.gov/publication/57126#:~:text=Only%20about%2012%20percent%20of,than%20%242%20billion%20per%20drug.">12% on average</a>.
The results of EDG-7500 do show promise not only in their comparability to the already approved treatment but also in the revenue that Bristol-Myers has demonstrated. However, with Sevasemten in Phase 3 trials for Becker MD, the company could be the first to get an approved treatment in that market.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/analyst-think-theres-still-time-to-get-in-on-edgewise-up-332/">Analysts Think There&#39;s Still Time to Get in on Edgewise, Up 332%</a>&quot; first appeared on MarketBeat.

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CYTK

EWTX

Analysts Think There's Still Time To Get In On Edgewise

On Monday, Prime Medicine Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRME#NASDAQ">PRME</a>) announced a strategic research collaboration and license agreement with Bristol Myers Squibb&nbsp;&amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;to develop reagents for the next generation of&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g41088429/prime-medicine-announces-strategic-research-collaboration-and-license-agreement-with-bristol-myers" rel="noreferrer noopener">ex vivo</a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g41088429/prime-medicine-announces-strategic-research-collaboration-and-license-agreement-with-bristol-myers" rel="noreferrer noopener"> T-cell therapies</a>.
Under the terms of the agreement, Prime Medicine will design optimized Prime Editor reagents for a select number of targets, including reagents that use its Prime Assisted Site-Specific Integrase Gene Editing (PASSIGE) technology.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35148656/preclinical-phase-firm-prime-medicines-gene-editing-platform-has-potential-analyst" rel="noreferrer noopener">Preclinical-Phase Firm Prime Medicine&#8217;s Gene Editing Platform Has Potential: Analyst</a>.
Bristol Myers Squibb will be responsible for developing, manufacturing, and commercializing next-generation cell therapies, with support from Prime Medicine in gene editing strategy and reagent development.
Prime Medicine will receive a $55 million upfront payment and a $55 million equity investment from Bristol Myers Squibb.
Prime Medicine is also eligible to receive more than $3.5 billion in milestones, including up to $1.4 billion in development milestones and more than $2.1 billion in commercialization milestones, along with royalties on net sales.
Concurrently, Prime Medicine announced that it would <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g41088559/prime-medicine-unveils-strategically-focused-pipeline" rel="noreferrer noopener">streamline its pipeline</a>.
The company said it will focus on developing two programs for chronic granulomatous disease (CGD).
<ul>
<li>PM359, an ex vivo autologous hematopoietic stem cell (HSC) product: The company has initiated a Phase 1/2 clinical trial to assess the safety, biological activity, and preliminary efficacy of PM359 in adult and pediatric patients and expects initial clinical data study in 2025.</li>
<li>Ex vivo HSC product for the treatment of X-linked CGD</li>
</ul>
Other candidates that the company will prioritize include:
<ul>
<li>Lipid nanoparticle (LNP) Prime Editor for Wilson&#8217;s Disease: Prime Medicine expects to present new preclinical data and initiate IND-enabling activities in the fourth quarter of 2024 and intends to file an IND and/or clinical trial application in the first half of 2026. </li>
<li>LNP / adeno-associated virus Prime Editors for the treatment of Cystic Fibrosis.</li>
</ul>
With the $110 million upfront consideration received from Bristol Myers Squibb under the strategic research collaboration and license agreement announced this morning, Prime Medicine expects its cash runway to fund operations into the first half of 2026.
Prime Medicine is identifying partnership opportunities to advance its other programs, including those for neurological diseases, cell therapy, ocular diseases, and hearing loss.
Price Action: PRME stock is up 17.1% at $4.05 during the premarket session at last check Monday.
Photo via Shutterstock
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</ul>

Contracts

PRME

Prime Medicine Inks Cell Therapy Pact With Bristol Myers Squibb Worth Over $3.5B, Streamlines Pipeline

Under the terms of the agreement, Prime Medicine will design optimized Prime Editor reagents for a select number of targets, including reagents that use its Prime Assisted Site-Specific Integrase Gene Editing (PASSIGE) technology.
Bristol Myers Squibb will be responsible for development, manufacturing and commercialization of the next generation cell therapies, with support from Prime Medicine in gene editing strategy and reagent development.

Prime Medicine Enters Strategic Research Collaboration And License Agreement With Bristol Myers Squibb; Prime Medicine To Receive $110M Upfront, With Potential For More Than $3.5B In Milestones

On Thursday, the FDA approved&nbsp;Bristol Myers Squibb&nbsp;&amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;Cobenfy (xanomeline and trospium chloride, KarXT), an oral medication for&nbsp;<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">schizophrenia in adults</a>.
BMO Capital analyst notes that the FDA approval without a boxed warning is a significant positive for Bristol Myers shares.
The analyst notes that given that many prior antipsychotic medications received black box warnings due to increased mortality risks, particularly in elderly patients, Cobenfy&#8217;s absence of such a warning could significantly enhance its potential in treating Alzheimer&#8217;s related-psychosis, pending further clinical trials.
BMO projects peak sales of $2.4 billion for Cobenfy in schizophrenia and $3.9 billion in Alzheimer&#8217;s related-psychosis, raising the price target to $53 from $48, with a <a target="_blank" href="https://www.benzinga.com/quote/BMY/analyst-ratings" rel="noreferrer noopener">Market Perform rating</a>.
The analyst notes that Cobenfy will be priced at $1,850 for a 30-day supply or $22,500/year, representing a discount to previous expectations.
Truist Securities highlights that AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) is also advancing emraclidine as a treatment for schizophrenia and Alzheimer&#8217;s disease-related psychosis.
According to Truist analysts, emraclidine differs from KarXT in its mechanism of action.
Despite emerging competition, Truist points out that KarXT holds a first-mover advantage and is ahead by at least two to three years.
Truist maintains the Buy rating and a price target of $62.
William Blair projects peak U.S. sales for Cobenfy to reach approximately $2 billion by 2030, driven solely by its use in treating schizophrenia.
However, if the drug is approved for additional indications, such as Alzheimer-related psychosis and adjunctive schizophrenia—both currently in Phase 3 trials—annual sales could rise to around $3 billion to $5 billion, pending positive results.
The analyst points out that although the label lacks a black box warning, it does include caution for urinary retention, elevated heart rate, reduced gastric motility, and angioedema.
Price Action: BMY stock is up 2.33% at $51.29&nbsp;at the last check on Friday.
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<li><a href="https://www.benzinga.com/general/biotech/24/09/41070911/fda-removes-clinical-hold-on-biomea-fusions-early-stage-trials-for-potential-diabetes-candidate" target="_blank" rel="noreferrer noopener">FDA Removes Clinical Hold On Biomea Fusion&#8217;s Early-Stage Trials For Potential Diabetes Candidate</a>.</li>
</ul>

Analyst Color

Price Target

Absence of Black Box Warning For Bristol Myers' Schizophrenia Treatment Could Enhance Alzheimer's Psychosis Potential

In the Phase 3b/4 PSORIATYK SCALP trial Sotyktu was superior to placebo across all primary and secondary endpoints at Week 16, with patients reporting significantly greater improvement in symptoms
Safety profile in PSORIATYK SCALP was consistent with the established safety profile of Sotyktu
In the real-world RePhlect registry of patients, six months of Sotyktu treatment was consistent with the efficacy outcomes observed in the POETYK clinical studies for psoriasis
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com%2F&amp;esheet=54127020&amp;newsitemid=20240925005092&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=bea69efca57c5230176a4c6a25a3865c">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced positive results from the Phase 3b/4 PSORIATYK SCALP trial evaluating Sotyktu (deucravacitinib) for the treatment of patients with moderate-to-severe scalp psoriasis, including those with less extensive overall psoriasis. The primary endpoint was met, with a statistically significant improvement in the scalp-specific Physician's Global Assessment (ss-PGA) response of 0 or 1 (clear/almost clear) at 16 weeks, with more than three times as many patients achieving ss-PGA 0/1 with Sotyktu treatment compared to those on placebo (48.5% versus 13.7%, respectively; p&lt;0.0001).
The new PSORIATYK SCALP efficacy and safety results (oral presentation FC04.07, abstract #5627), patient-reported outcomes (oral presentation FC06.06, abstract #5390) and 23 additional abstracts are being presented at the European Academy of Dermatology and Venereology (EADV) Congress in Amsterdam, Netherlands taking place September 25-28, 2024.

Bristol Myers Squibb Presents New Data From 2-Trials Demonstrating Sotyktu Efficacy In both Moderate-To-Severe Scalp Psoriasis And In A Real-World Setting; In The Phase 3b/4 PSORIATYK SCALP Sotyktu Was Superior To Placebo Across All Primary And Secondary Endpoints At Week 16, With Patients Reporting Significantly Greater Improvement In Symptoms

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 $48 to $53.

BMO Capital Maintains Market Perform on Bristol-Myers Squibb, Raises Price Target to $53

In August, the Federal Reserve's preferred inflation gauge, the <a href="https://www.benzinga.com/news/econ-s/24/09/41066122/feds-preferred-inflation-gauge-comes-in-below-expectations-for-august-easing-concerns-about-rising-p">Personal Consumption Expenditures </a>(PCE) Price Index, rose 2.2% year-over-year, coming in below analyst expectations of 2.3%. That&#8217;s down from July's 2.5%.
The core PCE, which excludes volatile food and energy prices, increased by 2.7% year-over-year, matching forecasts and slightly higher than July's 2.6%.
This decline in overall inflation, despite steady core inflation, suggests a potential easing of price pressures, even as costs for services like housing and financial services continue to rise.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/09/41063577/peter-thiel-offloads-over-1b-in-palantir-stock-in-2024-as-stock-more-than-doubles">Peter Thiel Offloads Over $1B In Palantir Stock In 2024 As Stock More Than Doubles</a>
Following Friday&#8217;s PCE report, these 14 stocks showed strong momentum in premarket trading, according <a href="https://pro.benzinga.com/">to Benzinga Pro:</a>
<ul>
<li>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) rises 3.6% to $51.94.</li>
<li>PPD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) climbs 3.8% to $134.14.</li>
<li>JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) is up 3.3% to $39.38.</li>
<li>Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) gains 2.8% to $24.89.</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) advances 1.5% to $66.52.</li>
<li>NetEase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) lifts 1.7% to $92.69.</li>
<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) jumps 1.3% to $14.00.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rockets 1.1% to $257.16.</li>
<li>Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) moves 0.9% higher to $105.80.</li>
<li>BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) ticks up 0.9% to $31.07.</li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) soars 1.1% to $81.03.</li>
<li>General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) inches up 0.9% to $46.24.</li>
<li>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) posts a rise of 1.07% to $185.01.</li>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) registers a boost of 0.7% to $110.69.</li>
</ul>
Rising costs in services, particularly in housing, financial services, and insurance, were the key drivers of inflation, pushing the overall PCE index higher. While service prices surged, goods prices saw a slight decline, helping to offset some of the inflationary pressure. Meanwhile, falling energy prices, especially gasoline, provided additional relief compared to previous periods of stronger inflationary impact from energy.
Food prices increased modestly, primarily in off-premises consumption like groceries, but their effect on inflation was smaller compared to services. 
Core inflation, which excludes food and energy, remained steady due to ongoing price increases in durable goods and essential services. Despite minor declines in goods prices, rising service costs <a href="https://www.benzinga.com/topic/inflation">kept core inflation elevated</a>.
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Photo: Shutterstock.

BABA

EQNR

NTES

Citigourp Global Markets 2% Protected Notes Linked To The Djia

PYPL

14 Stocks Gain Momentum As August Inflation Comes In Below Expectations

On Thursday, the FDA approved Bristol Myers Squibb&nbsp;&amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Cobenfy (xanomeline and trospium chloride, KarXT), an oral medication for <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41059140/u-s-food-and-drug-administration-approves-bristol-myers-squibbs-cobenfy-xanomeline-and-trospium-ch" rel="noreferrer noopener">schizophrenia in adults</a>.
Bristol-Myers added the treatment via Karuna Therapeutics deal for $330 per share in cash for a total equity <a target="_blank" href="https://www.benzinga.com/markets/equities/23/12/36388646/bristol-myers-acquisition-of-karuna-therapeutics-paves-way-for-aggressive-global-marketing-of-ka" rel="noreferrer noopener">value of $14 billion</a>.
Cobenfy represents the first new class of medicine in several decades and introduces a fundamentally new approach to treating schizophrenia by selectively targeting M1&nbsp;and M4&nbsp;receptors in the brain without blocking D2&nbsp;receptors.
&#8220;Today&#8217;s landmark approval of our <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40964682/bristol-myers-acquired-drug-karxt-poised-for-fda-approval-as-first-new-type-of-schizophrenia-trea" rel="noreferrer noopener">first-in-class treatment</a> for schizophrenia marks an important milestone for the community, where after more than 30 years, there is now an entirely new pharmacological approach for schizophrenia — one that has the potential to change the treatment paradigm,&#8221; said&nbsp;Chris Boerner, board chair and CEO at Bristol Myers Squibb.
Schizophrenia is estimated to impact approximately 2.8 million people in the U.S.
The FDA approval of Cobenfy is supported by data from the EMERGENT clinical program, which includes three placebo-controlled efficacy and safety trials and two open-label trials evaluating the long-term safety and tolerability of COBENFY for up to one year.
In Phase 3 EMERGENT-2 and EMERGENT-3 trials, Cobenfy met its primary endpoint, demonstrating statistically significant reductions of schizophrenia symptoms compared to placebo, as measured by the Positive and Negative Syndrome Scale (PANSS) total score change from baseline to week five.
Cobenfy demonstrated a 9.6-point reduction (-21.2 Cobenfy vs. -11.6 placebo) and an 8.4-point reduction (-20.6 Cobenfy vs. -12.2 placebo) in PANSS total score compared to placebo at week five in EMERGENT-2 and EMERGENT-3, respectively.
In EMERGENT-2, Cobenfy demonstrated a statistically significant improvement in illness from baseline to week five.
Cobenfy was invented at PureTech Health Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTC#NASDAQ">PRTC</a>). FDA approval triggers two separate milestone payments to PureTech <a href="https://www.benzinga.com/pressreleases/24/09/b41060406/puretech-invented-karxt-receives-u-s-food-and-drug-administration-approval-for-the-treatment-of-sc" target="_blank" rel="noreferrer noopener">totaling $29 million</a>.
Price Action: BMY stock is up 6.34% at $53.30 during the premarket session at last check Friday.
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/41053431/openai-ceo-says-leadership-shakeup-aims-to-flatten-structure-elevate-new-leaders" target="_blank" rel="noreferrer noopener">OpenAI CEO Says Leadership Shakeup Aims to Flatten Structure, Elevate New Leaders</a>.</li>
</ul>
Photo via Shutterstock

PRTC

Schizophrenia Treatment Revolution: FDA Approves Bristol Myers Squibb's Cobenfy As First New Class Of Treatment In More Than 3 Decades

WIIM

Bristol-Myers Squibb shares are trading higher after the company announced the FDA approved COBENFY for treatment of schizophrenia

Shares of Establishment Labs Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESTA#NASDAQ">ESTA</a>) rose sharply in today's pre-market as the company received U.S. FDA approval for Motiva Implants.
Establishment Labs Holdings shares jumped 28.3% to $52.88 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Fangdd Network Group Ltd.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUO#NASDAQ">DUO</a>) rose 51.3% to $1.62 in pre-market trading after jumping 110% on Thursday.</li>
<li>Onconetix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) shares rose 40.1% to $4.75 in pre-market trading. Onconetix recently announced a 1-for-40 reverse stock split.</li>
<li>The Real Good Food Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGF#NASDAQ">RGF</a>) gained 38.9% to $0.5140 in pre-market trading after announcing debt refinancing transactions with PMC Financial Services and Emblem Investment Fund for a $60 million new term loan.</li>
<li>Expion360 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPON#NASDAQ">XPON</a>) rose 30.2% to $0.0840 in pre-market trading after declining around 23% on Thursday.</li>
<li>Cardio Diagnostics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDIO#NASDAQ">CDIO</a>) shares rose 26.5% to $0.3162 in pre-market trading after falling around 5% on Thursday.</li>
<li>Mercurity Fintech Holding Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MFH#NASDAQ">MFH</a>) shares surged 16% to $1.60 in pre-market trading after falling around 4% on Thursday.</li>
<li>Sonim Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONM#NASDAQ">SONM</a>) shares gained 10.1% to $3.27 in pre-market trading. Sonim Technologies recently announced a strategic distribution partnership with TCCM.</li>
<li>IonQ, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NASDAQ">IONQ</a>) gained 7% to $8.62 in pre-market trading after the company said it inked $54.5 million contract with the United States Air Force Research Lab.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) shares jumped 6.3% to $53.29 in pre-market trading as the company said the U.S. FDA has approved COBENFY&#x2122; (xanomeline and trospium chloride), an oral medication for the treatment of schizophrenia in adults.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) shares dipped 19% to $0.4156 in pre-market trading after jumping 83% on Thursday.</li>
<li>enVVeno Medical Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVNO#NASDAQ">NVNO</a>) fell 16.4% to $3.76 in pre-market trading after announcing a proposed public offering.</li>
<li>Momentus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNTS#NASDAQ">MNTS</a>) shares fell 16% to $0.4504 in pre-market trading after the company received non-compliance notice from Listing Qualifications Department of Nasdaq.</li>
<li>Mustang Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) fell 13.8% to $0.2058 in pre-market trading after gaining more than 7% on Thursday.</li>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) shares declined 12.8% to $3.48 in pre-market trading. Telesis Bio shares jumped 72% on Thursday after the company announced a partnership with Beckman Coulter Life Sciences to revolutionize DNA and mRNA synthesis.</li>
<li>Theriva Biologics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOVX#NASDAQ">TOVX</a>) shares fell 11.8% to $1.80 in pre-market trading after the company announced the pricing of $2.5 million public offering.</li>
<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) declined 10.8% to $28.40 in pre-market trading after the SEC charged the company, two former executives for misleading claims about Alzheimer&#8217;s clinical trial.</li>
<li>AtlasClear Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NASDAQ">ATCH</a>) shares declined 9.8% to $0.2643 in pre-market trading.</li>
<li>Gryphon Digital Mining, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>) fell 9.6% to $0.5533 in today's pre-market trading after gaining 10% on Thursday.</li>
<li>HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) shares fell 3.2% to $35.70 in pre-market trading after gaining over 2% on Thursday.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/earnings/24/09/41061511/costco-scholastic-and-3-stocks-to-watch-heading-into-friday">Costco, Scholastic And 3 Stocks To Watch Heading Into Friday</a></li>
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ATCH

Cardio Diagnostics Holdings Inc. - Common stock

CDIO

ESTA

GRYP

IONQ

MBIO

MNTS

NVNO

ONCO

SAVA

SOAR

SONM

TBIO

TOVX

XPON

Why Establishment Labs Shares Are Trading Higher By Around 28%; Here Are 20 Stocks Moving Premarket

Sentiment has soured ahead of the <a href="https://www.benzinga.com/trading-ideas/previews/24/09/41054701/inflation-data-will-be-watched-like-a-hawk-friday-after-feds-interest-rate-cuts">key inflation data that is due ahead of the market open </a>on Friday, with the index futures pointing to a modestly lower opening. A fairly benign data could keep the upward trajectory intact ahead of next week&#8217;s key labor market data. Stocks are on track to finish September, a seasonally weaker month, on a positive note, and election uncertainty could weigh down on the market in the upcoming month. The focus would shift to the third-quarter reporting season in the latter half of October.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.18%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.07%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.03%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.31%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.03% to $572.46 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.08% to $489.09, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks advanced on Thursday as traders digested a slew of economic data, Chinese stimulus that set the Asian markets on fire and Micron Technology, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) earnings. A sharp drawdown in the shares of Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) on the back of the news of a Department of Justice probe tempered optimism toward the tech stocks.
The major indices opened sharply higher after separate reports showed jobless claims fell in the recent reporting week, durable goods orders remained flat, belying expectations for a decline, and the second-quarter GDP data was left unrevised at 3%.
The indices squandered the early gains but remained mostly above the unchanged line for the rest of the session before closing higher for the day.
The S&amp;P 500 scored another record intraday and closing highs, with nine of the 11 S&amp;P 500 sector classes closing higher. Material stocks advanced notably, while energy stocks came under significant selling pressure. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.60%</td>
<td>18,190.29</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.40%</td>
<td>5,745.37</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.62%</td>
<td>42,175.11</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.57%</td>
<td>2,209.87</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
LPL Chief Economist Jeffrey Roach said in a note he anticipates a period of higher volatility among both bonds and equities during the present period of global uncertainty and softer growth outlook. &#8220;We expect volatility to remain elevated over the next few months, and believe a better entry point back into the longer-term bull market is likely,&#8221; he said.
The economist said the long and variable lag of monetary policy is not perfectly symmetrical, and it could take time for the monetary stimulus to filter down from Wall Street to Main Street. &#8220;Portfolio allocators should consider keeping a domestic bias during these periods of flux,&#8221; he added.
With just two sessions to go for September, the S&amp;P 500 is up about 17.2% for the month-to-date period. Carson Group Chief Investment Strategist Ryan Detrick underlined a positive aspect of it. If the index finishes September in the green, it would mark gains for eight of the nine months of 2024. Going back into history, this has occurred nine other times and in those years, the index posted gains for the fourth quarter all nine times. The average gain is a decent 6.7%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No September isn&#39;t over yet, but if the S&amp;P 500 finishes higher in September that would be 8 of the first 9 months of &#39;24 higher. I found 9 other times that happened in history. Q4? Up 9 times and up 6.7% on avg.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1839388702646161483?ref_src=twsrc%5Etfw">September 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>The Bureau of Economic Analysis is due to release a personal income and spending report for August at 8:30 a.m. EDT. Economists, on average, expect personal income and spending to have increased by 0.4% and 0.3% month-over-month, respectively, in August. This compares to the July rates of 0.3% and 0.5%, respectively. The price consumption expenditure index may have edged up 0.1% compared to July&#8217;s 0.2% increase. Annually, the rate of increase in the PCEI is expected to have slowed from 2.5% in July to 2.3% in August. The monthly and annual rates of the core PCEI are estimated at 0.2% and 2.7%, respectively, for August, compared to July&#8217;s 0.2% and 2.6% rates.</li>
<li>The advanced trade balance report for August will be released by the Commerce Department at 8:30 a.m. EDT. The consensus estimate calls for a deficit of $100.60 billion for August compared to a deficit of $102.84 billion in July. The Commerce Department will also release advance wholesale and retail inventory data at 8:30 a.m. EDT.</li>
<li>The University of Michigan&#8217;s final consumer sentiment index for September is scheduled to be released at 10 a.m. EDT. The headline consumer sentiment index is expected to be revised from the flash reading of 69 to 69.3, marking an increase from 67.9 in August. The one-year and five-year inflation expectations readings will likely come in at 2.7% and 3.1%, respectively,</li>
<li>Atlanta Fed GDPNow for the third quarter, due at 10:30 a.m. EDT, is expected to show 2.9% growth.</li>
<li>Federal Reserve Governor Michelle Bowman is scheduled to speak at 1:15 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>BlackBerry Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) fell over 1.50% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s earnings announcement, and Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) was down about 1.30% on earnings.</li>
<li>Bristol Myers Squibb&nbsp;Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) shares rose over 6% after the FDA approved Cobenfy, an oral medication for the treatment of schizophrenia in adults.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures are weaker yet again, although more modestly than in the previous two sessions, and gold futures retreated modestly and traded just shy of the record. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied over 3% over the past 24 hours and is fast approaching the next psychological resistance of $66K.
The yield on the 10-year Treasury note remained almost flattish with a slight negative bias at 3.785%.
In Asia, stocks in Hong Kong, Japan and China rose strongly and the Australian averages gained modestly, but major indices elsewhere settled mostly lower. China&#8217;s optimism continued to buoy sentiment in the mainland markets.
The European markets advanced in early trading as traders digested inflation data from some key countries in the region and other data. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41040634/analyst-counters-pete-buttigiegs-assertion-that-inflation-went-down-after-bidens-ira-2022-they-are-s">Analyst Counters Pete Buttigieg&#8217;s Assertion That Inflation Went Down After Biden&#8217;s IRA 2022: &#8216;They Are Still Rising And You Don&#8217;t Seem To Care..At All&#8217;</a></li>
</ul>
Image Via Shutterstock

Futures

Media

$BTC

COST

SMCI

Wall Street On Wait-And-Watch Mode Ahead Of Inflation Data, Bitcoin Holds Above 65.5K: Analyst Says Volatility Ahead Providing Better Entry Point Into Long-term Bull Market

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com&amp;esheet=54127503&amp;newsitemid=20240925382351&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=4c5782a9cae61ff07bf3f46354780c2f">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced that the U.S. Food and Drug Administration (FDA) has approved COBENFY&#x2122; (xanomeline and trospium chloride), an oral medication for the treatment of schizophrenia in adults.1 COBENFY represents the first new class of medicine in several decades and introduces a fundamentally new approach to treating schizophrenia by selectively targeting M1 and M4 receptors in the brain without blocking D2 receptors.2,3,4
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240925382351/en/">https://www.businesswire.com/news/home/20240925382351/en/</a>
<img src="https://mms.businesswire.com/media/20240925382351/en/2254707/4/COBENFY%E2%84%A2_Product_Image.jpg" alt="Product Image (Photo: Bristol Myers Squibb)" />
Product Image (Photo: Bristol Myers Squibb)
"Today's landmark approval of our first-in-class treatment for schizophrenia marks an important milestone for the community, where after more than 30 years, there is now an entirely new pharmacological approach for schizophrenia — one that has the potential to change the treatment paradigm," said <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bms.com%2Fabout-us%2Fleadership%2Fleadership-team%2Fchris-boerner.html&amp;esheet=54127503&amp;newsitemid=20240925382351&amp;lan=en-US&amp;anchor=Chris+Boerner%2C+PhD&amp;index=2&amp;md5=6642d2f3554dd82aeef370702f1e3416">Chris Boerner, PhD</a>, board chair and chief executive officer at Bristol Myers Squibb. "As we reenter the field of neuropsychiatry, we are dedicated to changing the conversation around serious mental illness, beginning with today's approval in schizophrenia."
Schizophrenia is a persistent and often disabling mental illness affecting how a person thinks, feels and behaves.5 It is estimated to impact approximately 2.8 million people in the United States.6 Symptoms typically first appear in early adulthood and present differently in each person, making symptoms difficult to diagnose and manage.6 While the current standard of care can be effective in managing symptoms of schizophrenia, up to 60% of people experience inadequate improvement in symptoms or intolerable side effects during therapy.7
"For people living with schizophrenia, it's often difficult to find a treatment that works for them. Having a variety of treatment options gives patients and healthcare providers the tools to help manage this serious condition," said Gordon Lavigne, chief executive officer of the Schizophrenia &amp; Psychosis Action Alliance. "People living with schizophrenia want and deserve more. Today's approval provides a new option as people with schizophrenia move forward with proper support to rebuild their lives."
The FDA approval of COBENFY is supported by data from the EMERGENT clinical program, which includes three placebo-controlled efficacy and safety trials and two open-label trials evaluating the long-term safety and tolerability of COBENFY for up to one year. In the Phase 3 EMERGENT-2 and EMERGENT-3 trials, COBENFY met its primary endpoint, demonstrating statistically significant reductions of schizophrenia symptoms compared to placebo, as measured by the Positive and Negative Syndrome Scale (PANSS) total score change from baseline to week five. COBENFY demonstrated a 9.6-point reduction (-21.2 COBENFY vs. -11.6 placebo, p&lt;0.0001) and an 8.4-point reduction (-20.6 COBENFY vs. -12.2 placebo; p&lt;0.0001) in PANSS total score compared to placebo at week five in EMERGENT-2 and EMERGENT-3, respectively. In EMERGENT-2, COBENFY demonstrated a statistically significant improvement in illness from baseline to week five, as measured by the Clinical Global Impression-Severity (CGI-S) score, a secondary endpoint in the trial.1
The safety and tolerability profile of COBENFY has been established across acute and long-term trials. In the Phase 3 EMERGENT-2 and EMERGENT-3 trials, the most common adverse reactions (≥5% and at least twice placebo) were nausea, dyspepsia, constipation, vomiting, hypertension, abdominal pain, diarrhea, tachycardia, dizziness and gastroesophageal reflux disease.1 COBENFY does not have atypical antipsychotic class warnings and precautions and does not have a boxed warning.
"Due to its heterogeneous nature, schizophrenia is not a one-size-fits-all condition, and people often find themselves in a cycle of discontinuing and switching therapies," said Rishi Kakar, MD, chief scientific officer and medical director at Segal Trials and investigator in the EMERGENT program. "The approval of COBENFY is a transformative moment in the treatment of schizophrenia because, historically, medicines approved to treat schizophrenia have relied on the same primary pathways in the brain. By leveraging a novel pathway, COBENFY offers a new option to manage this challenging condition."
The Company today also announced the launch of COBENFY Cares&#x2122;, a program designed to support patients who have been prescribed COBENFY. Patients will be able to enroll in the COBENFY Cares program in late October corresponding with product availability. The COBENFY Cares phone number is 1-877-COBENFY.

Government

Regulations

FDA Approves Bristol Myers Squibb's COBENFY, First New Schizophrenia Drug in Decades

Today, the U.S. Food and Drug Administration approved Cobenfy (xanomeline and trospium chloride) capsules for oral use for the treatment of schizophrenia in adults. It is the first antipsychotic drug approved to treat schizophrenia that targets cholinergic receptors as opposed to dopamine receptors, which has long been the standard of care.

FDA Earlier Announced Approval Of Bristol-Myers Squibb's Cobenfy With New Mechanism Of Action For Treatment Of Schizophrenia

On Thursday, 26 September, the FDA's Oncologic Drugs Advisory Committee will discuss the use of immune checkpoint inhibitors in patients with unresectable or metastatic gastric and gastroesophageal junction adenocarcinoma and esophageal <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40534057/cancer-medicines-from-merck-bristol-myers-and-beigene-in-question-as-fda-committee-to-discuss-lim" rel="noreferrer noopener">squamous cell carcinoma</a>.
The FDA <a target="_blank" href="https://www.fda.gov/advisory-committees/advisory-committee-calendar/september-26-2024-meeting-oncologic-drugs-advisory-committee-meeting-announcement-09262024" rel="noreferrer noopener">notes</a> that the current labeling for approved checkpoint inhibitors in this indication reflects broad approvals in the intent to treat patient populations agnostic of programmed death cell ligand-1 (PD-L1) expression.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40534057/cancer-medicines-from-merck-bristol-myers-and-beigene-in-question-as-fda-committee-to-discuss-lim" rel="noreferrer noopener">Cancer Medicines From Merck, Bristol Myers And BeiGene In Question, As FDA Committee To Discuss Limiting PD-1 Drugs For Stomach Cancer</a>.
Cumulative data has shown that PD-L1 expression appears to be a predictive biomarker of treatment efficacy in this patient population; however, clinical trials have used different approaches to assess PD-L1 expression and different thresholds to define PD-L1 positivity.
The review includes existing approvals for&nbsp;Bristol Myers Squibb Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;Opdivo (nivolumab) and Yervoy (ipilimumab),&nbsp;Merck &amp; Co Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)&nbsp;Keytruda (pembrolizumab), and pending applications for&nbsp;BeiGene Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>)&nbsp;Tevimbra (tislelizumab).
In a&nbsp;<a target="_blank" href="https://www.fda.gov/media/182138/download" rel="noreferrer noopener">briefing document</a>, the FDA indicated that combining immune checkpoint inhibitors (ICIs) with standard chemotherapy does not seem to offer benefits for patients with PD-L1 expression below 1%. Patients with PD-L1 levels of 10% or higher experience the most significant benefit.
The advantages remain unclear for those with PD-L1 levels between 1% and 10%, and interpreting the data is difficult.
Given that patients with low or absent PD-L1 expression are unlikely to benefit, administering anti-PD-1 therapy may introduce risks, including severe immune-related adverse effects, which can further diminish the quality of life in individuals already dealing with malignancy.
"Although these results are exploratory &#8230; strong evidence does not appear to support the use of anti-PD-L1 drugs in patients with low PD-L1 expression," the FDA <a target="_blank" href="https://www.fda.gov/media/182143/download" rel="noreferrer noopener">said</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41028913/bristol-myers-2seventy-bio-halt-phase-3-trial-for-abecma-in-newly-diagnosed-myeloma" target="_blank" rel="noreferrer noopener">Bristol Myers-2seventy Bio Halt Phase 3 Trial For Abecma In Newly Diagnosed Myeloma Patients, Speeds Path To Profitability</a>.</li>
</ul>
Image by PDPics from Pixabay

BGNE

FDA Casts Doubt On Use Of Merck, Bristol Myers' PD-1 Cancer Drugs For Certain Type Of Gastric Cancer Patients

2seventy bio, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSVT#NASDAQ">TSVT</a>)&nbsp;and its partner Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), will discontinue enrollment in its ongoing Phase 3 KarMMa-9 study of Abecma&nbsp;(idecabtagene vicleucel; ide-cel) with lenalidomide maintenance versus lenalidomide maintenance alone for newly diagnosed multiple myeloma (NDMM) who have suboptimal response to autologous <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41020153/2seventy-bio-provides-update-on-karmma-9-study-and-previews-anticipated-strong-third-quarter-reven" rel="noreferrer noopener">stem cell transplant</a>.
"Consistent with our focus on capital allocation and creating value for all stakeholders, we anticipate this decision will conserve over $80 million in near-term expenditures and accelerate our path to breakeven in 2025," said Chip Baird, CEO of 2seventy bio.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38114915/fda-approves-bristol-myers2seventy-bios-abecma-for-earlier-use-in-pretreated-blood-cancer-patient" rel="noreferrer noopener">FDA Approves Bristol-Myers/2seventy Bio's Abecma For Earlier Use In Pretreated Blood Cancer Patients With Updated Boxed Warning On Secondary Cancer</a>.
2seventy also reported continued positive momentum in&nbsp;Abecma's expected return to growth in the earlier line setting following the FDA's approval in April 2024.
The company expects third-quarter&nbsp;Abecma&nbsp;U.S. revenue growth of approximately 30%&nbsp;from second-quarter revenue of $54 million. Demand, as measured by new patients undergoing apheresis in the third quarter, is also expected to reflect double-digit growth compared to the second quarter of 2024.
William Blair says while expectations for Abecma are generally low for investors at this point, the ability to maximize the opportunity in the current label would offset concerns about the fixed costs of the cell therapy franchise.
2seventy bio and BMS share equally in all profits and losses related to the development, manufacturing, and commercialization of&nbsp;Abecma&nbsp;in the U.S.
Overall, the announcement suggests moving CAR-T therapies into the earliest lines of treatment may have headwinds given the strong current standard of care. Therefore, we think thoughtful trial designs that reflect the changing standard of care will have the greatest potential of maximizing the CAR-T total addressable market."
Recently, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) acquired the Hemophilia A program and rights to 2seventy's in vivo gene editing technology outside of oncology and gene editing for autologous or allogeneic cell therapies of immune&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/06/39532373/novo-nordisk-buys-2seventys-hemophilia-a-program-divestiture-supports-exclusive-focus-on-abecma" rel="noreferrer noopener">cells for autoimmune disease</a>.
2seventy bio will focus exclusively on the commercialization and continued development of&nbsp;Abecma.
Price Action: TSVT stock is down 7.65% at $4.41, and BMY stock is down 2.90% at $49.47 at last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/41028246/flutter-bets-big-on-us-and-global-expansion-21b-revenue-goal-and-5b-buyback-in-sight" target="_blank" rel="noreferrer noopener">Flutter Bets Big On US And Global Expansion: $21B Revenue Goal And $5B Buyback In Sight</a>.</li>
</ul>

TSVT

Bristol Myers-2seventy Bio Halt Phase 3 Trial For Abecma In Newly Diagnosed Myeloma Patients, Speeds Path To Profitability

Bristol-Myers tops growth chart among S&P 500 healthcare stocks in Q3

Perspective: VMT01/02 Melanoma Data Coming For Radiotherapeutic Proof-Of-Concept

The Play On Neurocrine Biosciences

U.S. tweaks 2025 Medicare price negotiation process

Bristol-Myers wins FDA nod for Opdivo lung cancer indication

AbbVie's Emraclidine: M4 Agonist Might Become Best-In-Class In Schizophrenia

The pharmaceutical industry is promising due to AI and biotech innovations enhancing productivity, steady profits amidst economic shifts, rising chronic illnesses, and strong growth projections in global revenues and biotechnology markets. Therefore, it could be wise to invest in pharma stocks such as AbbVie (ABBV), Bristol-Myers Squibb (BMY), and Gilead Sciences (GILD), which could lead the next drug revolution. Read more... The pharmaceutical industry is driving the next drug revolution with AI and biotech innovations. Companies are using automation to streamline processes, boosting productivity and accuracy. Investors favor the sector for its steady profits, resilience during economic shifts, and sustained demand, driven by factors such as rising chronic illnesses.
Amid this favorable backdrop, investors could consider buying fundamentally strong pharmaceutical stocks: AbbVie Inc. (<a href="https://stocknews.com/stock/ABBV/">ABBV</a>), Bristol-Myers Squibb Company (<a href="https://stocknews.com/stock/BMY/">BMY</a>), and Gilead Sciences, Inc. (<a href="https://stocknews.com/stock/GILD/">GILD</a>).
In today's digital era, pharmaceutical firms are rapidly embracing AI to enhance biopharma manufacturing, drug development, and healthcare solutions. AI and machine learning are revolutionizing drug discovery, personalizing treatments, and boosting efficiency. Global pharmaceutical revenues are projected to reach $1.16 trillion this year, with a <a href="https://www.statista.com/outlook/hmo/pharmaceuticals/worldwide">6.2% CAGR</a>, also reaching $1.47 trillion by 2028.
In addition, advancements in biopharmaceuticals and biomedical science are driving cutting-edge therapies, such as cell and gene therapies, stem cell technologies, and regenerative and precision medicines. These innovations are propelling the pharmaceutical industry's growth, with the global biotechnology market projected to reach <a href="https://www.grandviewresearch.com/industry-analysis/biotechnology-market">$3.88 trillion by 2030</a>, growing at a CAGR of 14%.
Considering these conducive trends, let's take a look at the fundamentals of the three pharmaceutical picks.
AbbVie Inc. (<a href="https://stocknews.com/stock/ABBV/">ABBV</a>)
ABBV discovers, develops, manufactures, and sells pharmaceuticals worldwide. It offers a diverse range of pharmaceutical products, including treatments for autoimmune diseases, dermatology, rheumatology, oncology, neuroscience, eye care, gastroenterology, and endocrinology. Some of the products in its portfolio are HUMIRA, SKYRIZI, and RINVOQ.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/e/ebit.asp">EBIT</a> margin, ABBV's 32.01% is considerably higher than the 2.78% industry average. Likewise, its 35.70% trailing-12-month levered FCF margin is significantly higher than the 1.66% industry average. Furthermore, its 69.66% trailing-12-month gross profit margin is 20.7% higher than the 57.70% industry average.
ABBV's net revenues for the fiscal second quarter that ended on June 30, 2024, increased 4.3% year-over-year to $14.46 billion. Its operating earnings for the period were $4 billion, and its adjusted earnings after tax were $4.71 billion. Additionally, its adjusted EPS was $2.65.
Street expects ABBV's revenue for the quarter ended September 30, 2024, to increase 2.4% year-over-year to $14.27 billion. Its EPS for the quarter ending December 31, 2024, is expected to grow 5.7% year-over-year to $2.95. Over the past year, ABBV's stock has gained 32.8% to close the last trading session at $196.82.
ABBV's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect strong prospects. It has an overall rating of A, translating to a Strong Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #3 out of 159 stocks in the <a href="https://stocknews.com/category/pharmaceuticals/">Medical – Pharmaceuticals</a> industry. It has a B grade for Growth, Value, Stability, Sentiment, and Quality. <a href="https://stocknews.com/stock/ABBV/">Click here</a> to see ABBV's Momentum ratings.
Bristol-Myers Squibb Company (<a href="https://stocknews.com/stock/BMY/">BMY</a>)
BMY discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases.
On September 26, 2024, BMY announced FDA approval of COBENFY, a first-in-class treatment for schizophrenia. COBENFY introduces a new pharmacological approach, offering improved symptom reduction and safety.
In terms of the trailing-12-month levered FCF margin, BMY's 33.74% is significantly higher than the 1.66% industry average. Its 0.49x trailing-12-month asset turnover ratio is 19.9% higher than the 0.41x industry average. Also, its 76.18% trailing-12-month gross profit margin is 32% higher than the 57.70% industry average.
During the second quarter that ended June 30, 2024, BMY's total revenues increased 8.7% year-over-year to $12.20 billion. Its non-GAAP gross profit rose 9.6% from the year-ago value to $9.23 billion. For the same quarter, its non-GAAP net earnings attributable to BMY and non-GAAP EPS came in at $4.19 billion and $2.07, up 14.1% and 18.3% over the prior year's quarter, respectively.
For the quarter ended September 30, 2024, BMY's revenue is expected to increase 2.8% year-over-year to $11.27 million. Its EPS for fiscal 2025 is expected to rise 822.5% year-over-year to $7. It surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past three months, the stock has gained 32.9% to close the last trading session at $53.76.
BMY's POWR Ratings reflect a robust outlook. It has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It has an A grade for Growth and a B for Value, Sentiment, and Quality. It is ranked #5 in the Medical – Pharmaceuticals industry. To see BMY's additional grades for Momentum and Stability, <a href="https://stocknews.com/stock/BMY/">click here</a>.
Gilead Sciences, Inc. (<a href="https://stocknews.com/stock/GILD/">GILD</a>)
GILD discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally.
On September 10, 2024, GILD announced a strategic collaboration with Genesis Therapeutics to leverage AI for discovering and developing novel small molecule therapies. GILD gained exclusive rights to develop and commercialize resulting products from the collaboration.
On August 14, 2024, GILD announced the FDA's accelerated approval of Livdelzi (seladelpar) for treating primary biliary cholangitis in adults. The drug demonstrated significant reductions in key biomarkers and pruritus compared to placebo.
In terms of the trailing-12-month EBITDA margin, GILD's 48.42% is 654.8% higher than the 6.41% industry average. Likewise, its 77.44% trailing-12-month gross profit margin is 34.2% higher than the 57.70% industry average. Additionally, its 0.48x trailing-12-month asset turnover ratio is 16.3% higher than the 0.41x industry average.
For the fiscal second quarter (ended June 30, 2024), GILD's total revenues increased 5.4% year-over-year to $ 6.95 billion. The company's non-GAAP operating income came in at $3.27 billion, up 43.4% from the previous year's quarter. In addition, its non-GAAP net income attributable to GILD stood at $2.52 billion or $2.01 per share, up 49.2% and 50% year-over-year, respectively.
Analysts expect GILD's revenue for the quarter ending December 31, 2024, to increase marginally year-over-year to $7.16 billion. Its EPS for fiscal 2025 is expected to grow 87.7% year-over-year to $7.14. It surpassed the Street EPS estimates in three of the trailing four quarters. Over the past three months, GILD's stock has gained 28.9% to close the last trading session at $84.74.
It's no surprise that GILD has an overall rating of A, which translates to a Strong Buy in our proprietary POWR Ratings system.
It has an A grade for Value and a B for Sentiment and Quality. It is ranked #5 out of 334 stocks in the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry. Beyond what we stated above, we also have given GILD grades for Growth, Momentum, and Stability. Get all the GILD's ratings <a href="https://stocknews.com/stock/GILD/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
ABBV shares were trading at $195.32 per share on Thursday afternoon, down $1.50 (-0.76%). Year-to-date, ABBV has gained 29.61%, versus a 20.31% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/abbv-bmy-gild-3-pharmaceutical-stocks-that-could-lead-the-next-drug-revolution/>3 Pharmaceutical Stocks That Could Lead the Next Drug Revolution</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Pharmaceutical Stocks That Could Lead the Next Drug Revolution

UMB to refile $6.4B lawsuit against Bristol-Myers by end of next week - report

Q3 pharma and biotech layoffs in charts: More than 1000 each in July and August

Bristol-Myers trades in the green for seventh straight session

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Screenshot 2024-02-29 at 7.16.11 PM

ATNM

COEP

Here&#39;s How Coeptis Therapeutics Is Innovating Cell Therapy Approaches

Press Releases

Bristol Myers Squibb Announces Dividend

Bristol Myers Squibb to Report Results for Third Quarter 2024 on October 31, 2024

Bristol Myers Squibb Presents Landmark 10-Year Follow-Up Data from CheckMate -067 Which Showed Continued Durable Long-Term Survival Benefit with Opdivo® plus Yervoy® in Advanced Melanoma

Immatics Presents Clinical Proof-of-Concept Data from Ongoing Phase 1 Dose Escalation Trial with TCR Bispecific Molecule TCER® IMA401 Targeting MAGEA4/8 at ESMO 2024 and Provides Development Update

New Long-Term Zeposia (ozanimod) Data Demonstrate Durable Efficacy and Consistent Safety in Relapsing Forms of Multiple Sclerosis

U.S. Food and Drug Administration Approves Bristol Myers Squibb's COBENFY™ (xanomeline and trospium chloride), a First-In-Class Muscarinic Agonist for the Treatment of Schizophrenia in Adults

PureTech-Invented KarXT Receives U.S. Food and Drug Administration Approval for the Treatment of Schizophrenia in Adults

Bristol Myers Squibb Presents New Data from Two Trials Demonstrating Sotyktu (deucravacitinib) Efficacy in both Moderate-to-Severe Scalp Psoriasis and in a Real-World Setting

Prime Medicine Announces Strategic Research Collaboration and License Agreement with Bristol Myers Squibb to Develop and Commercialize Multiple Prime Edited Ex Vivo T-Cell Therapies

U.S. Food and Drug Administration Approves Perioperative Treatment of Neoadjuvant Opdivo® (nivolumab) and Chemotherapy Followed by Surgery and Adjuvant Single-Agent Opdivo for Resectable Non-Small Cell Lung Cancer (NSCLC)

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Amneal Pharmaceuticals, Inc. - Class A Common Stock

Amneal Pharmaceuticals

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