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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 U.S., showing a higher dependence on the U.S. market than most of its peer group.

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KarXT, a novel schizophrenia drug, is on the verge of FDA approval, promising to revolutionize treatment. However, access challenges within the US healthcare system could limit its impact on mental health care.

Bristol-Myers Acquired Drug KarXT Poised For FDA Approval As First New Type Of Schizophrenia Treatment In 70 Years

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Bristol Myers Squibb announces Phase 3 DAYBREAK trial data showing Zeposia (ozanimod) reduces brain volume loss in relapsing multiple sclerosis patients.

Bristol Myers Squibb Presents Data For Multiple Sclerosis Drug Zeposia, Shows Long-Term Efficacy

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Designed to provide broad exposure to the Healthcare - Broad segment of the equity market, the Invesco S&amp;P 500 Equal Weight Health Care ETF (ARCA:RSPH) is a passively managed exchange traded fund launched on 11/01/2006.

Should You Invest in the Invesco S&amp;P 500 Equal Weight Health Care ETF?

Bristol-Myers Squibb Company Common Stock

Bristol-Myers Squibb Co

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

The experimental drug KarXT, developed by Karuna Therapeutics, is expected to receive FDA approval later this month (Sept. 26), marking a significant breakthrough in schizophrenia treatment.
If approved, KarXT would become the first novel schizophrenia drug in over 70 years, offering new hope for patients and medical professionals alike.
Schizophrenia, a mental disorder that affects approximately 3.8 million adults in the U.S., is often characterized by severe symptoms such as social isolation, memory issues and psychotic episodes.
Last year, Bristol-Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) acquired Karuna Therapeutics for $330 per share in cash for a total equity value of $14 billion, or $12.7 billion net of <a href="https://www.benzinga.com/markets/equities/23/12/36388646/bristol-myers-acquisition-of-karuna-therapeutics-paves-way-for-aggressive-global-marketing-of-ka" target="_blank" rel="noreferrer noopener">estimated cash acquired</a>. 
The Financial Times <a target="_blank" href="https://www.ft.com/content/427d37df-e2e9-4b67-87be-29f2a258de00" rel="noreferrer noopener">highlights</a> that existing treatments, mainly focused on blocking dopamine receptors, often come with serious side effects, including weight gain and involuntary movements.
Despite the enthusiasm surrounding KarXT, the complexity and financial constraints of the U.S. health care system could limit access to this new treatment.
High drug pricing could also hinder access; the Institute for Clinical and Economic Review has suggested KarXT be priced at up to $20,000 per year.
In August, AbbVie Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) completed the acquisition of Cerevel Therapeutics, another company focused on developing drugs for neurological disorders, for a total equity value of approximately $8.7 billion, or <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36138732/abbvies-new-9b-neuroscience-space-deal-might-attract-ftc-scrutiny-analyst-signals" rel="noreferrer noopener">$45 per share in cash</a>.
The challenges extend beyond the cost and availability of medications, the Financial Times report adds. Many individuals with mental health conditions, particularly schizophrenia, encounter law enforcement rather than health care professionals during crises.
While KarXT&#8217;s approval could represent a crucial step forward, many experts, including Michael Thompson, a criminal justice expert, say that more systemic changes are needed to ensure mental health care is accessible and effective, especially for vulnerable populations like the homeless, according to FT. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/09/40963228/zevra-therapeutics-drug-becomes-first-fda-approved-treatment-for-ultra-rare-neurodegenerative-dis" target="_blank" rel="noreferrer noopener">Zevra Therapeutics&#8217; Drug Becomes First FDA-Approved Treatment For Ultra-Rare Neurodegenerative Disease</a></li>
</ul>
Photo via Pixabay.

Wednesday, Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) announced new data from the Phase 3 Daybreak trial demonstrating that decreased rates of brain volume loss were sustained in the open-label extension (OLE) for patients treated with Zeposia (ozanimod) for relapsing <a href="https://www.benzinga.com/pressreleases/24/09/b40915829/new-long-term-zeposia-ozanimod-data-demonstrate-durable-efficacy-and-consistent-safety-in-relapsin" target="_blank" rel="noreferrer noopener">forms of multiple sclerosis</a>.
These findings showed that patients receiving continuous Zeposia treatment for up to five years experienced low and stable rates of whole brain volume (WBV) loss through Month 60 (annualized least squares mean [LSM] % change from parent trial baseline: Radiance, −0.27; Sunbeam, −0.35).
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>.
Additionally, findings from a separate Daybreak OLE safety analysis demonstrated declining or stable incidence rates of treatment-emergent adverse events (TEAEs), with relatively low rates of infections, serious infections and opportunistic infections over more than eight years of treatment with Zeposia.
These will be presented at the 40th&nbsp;Congress of the European Committee for Treatment and Research in Multiple Sclerosis.
The Daybreak OLE trial included 2,257 patients from the Sunbeam and Radiance Phase 3 trials and evaluated rates of brain volume loss.
Switching from interferon beta-1a (IFN-β) to Zeposia treatment consistently reduced rates of WBV loss (annualized LSM% change from Radiance baseline to Month 24 and Daybreak baseline to Month 24: −0.48 and −0.19, respectively, with a similar pattern observed in Sunbeam).
Additionally, similar reductions were observed for changes in thalamic volume loss.
High annualized LSM% reductions in cortical grey matter volume (CGMV) were observed with IFN-β (annualized change at Month 12 relative to Sunbeam baseline: −1.02; annualized change at Month 24 relative to RADIANCE baseline: −0.59), but this trend reversed 12 months after switching to Zeposia in Daybreak (annualized LSM% increase relative to Daybreak baseline: patients from Sunbeam, 0.10; patients from Radiance, 0.20), with low annualized LSM% CGMV loss observed after that.
Price Action: BMY stock is up 0.40% at $49.69 during the premarket session at last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/09/40918218/independent-board-members-of-penny-stock-23andme-resign-call-out-ceo-anne-wojcicki-for-not-action" target="_blank" rel="noreferrer noopener">Independent Board Members Of Penny Stock 23andMe Resign, Call Out CEO Anne Wojcicki For Not &#8216;Actionable Proposal&#8217; Despite Ample Time</a>.</li>
</ul>
Image: Shutterstock

Bristol Myers Says New Data From Phase 3 DAYBREAK Trial Showed Decreased Rates Of Brain Volume Loss Were Sustained In Open-label Extension For Patients Treated With Zeposia (Ozanimod) For Relapsing Forms Of Multiple Sclerosis

8 analysts have expressed a variety of opinions on Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Bristol-Myers Squibb, presenting an average target of $46.0, a high estimate of $53.00, and a low estimate of $41.00. Witnessing a positive shift, the current average has risen by 0.26% from the previous average price target of $45.88.
<img src="https://www.benzinga.com/files/images/story/2024/1726520462_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A clear picture of Bristol-Myers Squibb's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Olivia Brayer</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$50.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>Akash Tewari</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$51.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Carter Gould</td>
<td>Barclays</td>
<td>Raises</td>
<td>Underweight</td>
<td>$42.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Steve Scala</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$53.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Carter Gould</td>
<td>Barclays</td>
<td>Maintains</td>
<td>Underweight</td>
<td>$41.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>James Shin</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Hold</td>
<td>$45.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Olivia Brayer</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$45.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Carter Gould</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$41.00</td>
<td>$43.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Bristol-Myers Squibb. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Bristol-Myers Squibb compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Bristol-Myers Squibb's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Bristol-Myers Squibb's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BMY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Bristol-Myers Squibb analyst ratings.</a>
<h2>Get to Know Bristol-Myers Squibb Better</h2>
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 U.S., showing a higher dependence on the U.S. market than most of its peer group.
<h3>Bristol-Myers Squibb's Financial Performance</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Bristol-Myers Squibb's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 8.69%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Health Care sector.
Net Margin: Bristol-Myers Squibb's net margin is impressive, surpassing industry averages. With a net margin of 13.77%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Bristol-Myers Squibb's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 10.03%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.73%, the company showcases effective utilization of assets.
Debt Management: Bristol-Myers Squibb's debt-to-equity ratio is below the industry average at 3.17, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>How Are Analyst Ratings Determined?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Bristol-Myers Squibb Stock

Cantor Fitzgerald analyst Olivia Brayer reiterates Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Neutral and maintains $50 price target.

Price Target

Reiteration

Cantor Fitzgerald Reiterates Neutral on Bristol-Myers Squibb, Maintains $50 Price Target

<ul>
<li>Objective response rate (ORR) 29%, confirmed ORR (cORR) 25%, disease control rate (DCR) of 53% and tumor shrinkage rate of 53% in the efficacy population treated with relevant IMA401 doses and MAGEA4/8 target levels.</li>
<li>Objective responses observed in head and neck squamous cell carcinoma, neuroendocrine tumor, cutaneous and mucosal melanoma including durable ongoing partial responses of up to 13+ months and deep responses (tumor shrinkage of ≥50%).</li>
<li>Pharmacokinetics data indicate a median terminal half-life of over two weeks, supporting the current q2w (once every two weeks) schedule and the pursuit of future dosing schedules of up to q4w.</li>
<li>Immatics to regain full clinical development and commercialization rights to IMA401 due to ongoing portfolio prioritization efforts within Bristol Myers Squibb; Phase 1 dose escalation trial with IMA401 is ongoing and will continue to be conducted by Immatics.</li>
</ul>

IMTX

Immatics Presented The Proof-of-concept Clinical Data For TCER IMA401 (MAGEA4/8) At The ESMO Congress

<ul>
<li>These data represent the longest reported median overall survival from a Phase 3 advanced melanoma trial; data selected for official ESMO press conference</li>
<li>At ten years, more than&nbsp;40%&nbsp;(43%) of patients treated with&nbsp;Opdivo&nbsp;plus&nbsp;Yervoy&nbsp;were alive; a decade ago, this patient population faced a survival rate of around&nbsp;25%&nbsp;after only one year</li>
<li>Data to be presented today as a mini oral and simultaneously published in&nbsp;TheNew England Journal of Medicine</li>
</ul>

Reported Sunday, Bristol Myers Squibb's Checkmate-067 Trial 10-Year Follow-Up Showed Continued Durable Long-Term Survival Benefit With Opdivo + Yervoy In Advanced Melanoma

Designed to provide broad exposure to the Healthcare - Broad segment of the equity market, the Invesco S&amp;P 500 Equal Weight Health Care ETF (ARCA:RSPH) is a passively managed exchange traded fund launched on 11/01/2006.
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Healthcare - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 4, placing it in top 25%.
<h2>Index Details</h2>
The fund is sponsored by Invesco. It has amassed assets over $953.37 million, making it one of the larger ETFs attempting to match the performance of the Healthcare - Broad segment of the equity market. RSPH seeks to match the performance of the S&amp;P 500 EQUAL WEIGHT HEALTH CARE INDEX before fees and expenses.
The S&amp;P 500 Equal Weight Health Care Index equally weights stocks in the health care sector of the S&amp;P 500 Index.
<h2>Costs</h2>
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.
Annual operating expenses for this ETF are 0.40%, making it one of the cheaper products in the space.
It has a 12-month trailing dividend yield of 0.61%.
<h2>Sector Exposure and Top Holdings</h2>
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund&#39;s holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Healthcare sector--about 100% of the portfolio.
Looking at individual holdings, Bio-Rad Laboratories Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bio#NYSE">BIO</a>) accounts for about 1.82% of total assets, followed by Bristol-Myers Squibb Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) and Gilead Sciences Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gild#NASDAQ">GILD</a>).
The top 10 holdings account for about 17.87% of total assets under management.
<h2>Performance and Risk</h2>
So far this year, RSPH has gained about 7.38%, and is up about 12.94% in the last one year (as of 09/12/2024). During this past 52-week period, the fund has traded between $25.30 and $32.39.
The ETF has a beta of 0.84 and standard deviation of 16.29% for the trailing three-year period. With about 65 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
Invesco S&amp;P 500 Equal Weight Health Care ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, RSPH is a sufficient option for those seeking exposure to the Health Care ETFs area of the market. Investors might also want to consider some other ETF options in the space.
Vanguard Health Care ETF (ARCA:VHT) tracks MSCI US Investable Market Health Care 25/50 Index and the Health Care Select Sector SPDR ETF (ARCA:XLV) tracks Health Care Select Sector Index. Vanguard Health Care ETF has $18.69 billion in assets, Health Care Select Sector SPDR ETF has $41.93 billion. VHT has an expense ratio of 0.10% and XLV charges 0.09%.
<a href="https://www.zacks.com/stock/news/2335012/should-you-invest-in-the-invesco-s-p-500-equal-weight-health-care-etf-rsph?cid=CS-BENZ-FT-sector_etf-2335012">To read this article on Zacks.com click here.</a>

Should You Invest in the Invesco S&P 500 Equal Weight Health Care ETF?

Sen. Bernie Sanders (I-Vt.) recently shared his thoughts on the state of healthcare in the United States, highlighting the disparity in outcomes between those with means and those without.
What Happened: On Tuesday, Senator Sanders took to X to voice his concerns about the high cost of medical care in the U.S. and the financial burden it places on patients.
He said, &#8220;If you&#8217;re rich in America, the odds are you&#8217;ll live as long as people in other developed countries.&#8221; However, conversely, if you&#8217;re poor &#8220;you&#8217;ll live 10 or 15 years less.&#8221; 
<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">If you&#39;re rich in America, the odds are you&#39;ll live as long as people in other developed countries. If you&#39;re poor, you&#39;ll live 10 or 15 years less. Anybody else see a problem with that? <a href="https://t.co/KGodx0ZNFg">pic.twitter.com/KGodx0ZNFg</a>
&mdash; Bernie Sanders (@SenSanders) <a href="https://twitter.com/SenSanders/status/1833265671108759908?ref_src=twsrc%5Etfw">September 9, 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/news/24/09/40767879/veteran-pollster-weighs-in-on-new-trump-vs-harris-poll-that-shows-ex-president-closing-in-if-you-sup?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Veteran Pollster Weighs In On New Trump Vs. Harris Poll That Shows Ex-President Closing In: &#8216;If You Support Policies That 60% Of The Country Opposes…You&#8217;re Asking For Trouble&#8217;</a>
The Vermont senator shared a video in which he addressed the issue. He said when asked about the status of the current healthcare system most people without exception say that &#8220;our healthcare system today is broken.&#8221;
He said, &#8220;When people say that they are right.&#8221; Sanders added, &#8220;In America today we spend twice as much per person on healthcare as do the people of any other country.&#8221; However, he noted that the U.S. outcomes were worse in comparison.
&#8220;Our life expectancy is way down behind many other countries and really obscenely the life expectancy in the United States between the people on top and working-class people is 10-12 years.&#8221;
Why It Matters: Sanders&#8217; views come in the wake of ongoing discussions about healthcare reform in the U.S. His comments on drug pricing are particularly relevant given his previous criticisms of companies like Biogen and Bristol-Myers Squibb for their high drug prices. <a href="https://www.benzinga.com/news/24/07/39784920/bernie-sanders-getting-sick-in-america-should-not-mean-going-bankrupt-losing-your-home-car-or-life-s">Sanders has previously stated</a> that &#8220;getting sick in America should not mean going bankrupt, losing your home, car, or life savings.&#8221;
Furthermore, Sanders&#8217; comments on the upcoming elections highlight his belief that the choice is clear for voters who want to see a change in the current healthcare system. <a href="https://www.benzinga.com/general/politics/24/08/40448543/bernie-sanders-trump-just-wants-to-give-billionaires-another-tax-break-this-november-the-choice-">He has previously criticized</a> policies that favor billionaires over the average citizen.
Image via Shutterstock
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

BIIB

Bernie Sanders Says If You're Poor In America You'll Live 10-15 Years Less: 'Anybody Else See A Problem With That?'

HC Wainwright initiated coverage on Enliven Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELVN#NASDAQ">ELVN</a>) and noted the company as an emerging biotech company developing next-gen precision-oriented small molecules for solid and <a target="_blank" href="https://www.benzinga.com/quote/ELVN" rel="noreferrer noopener">liquid tumor indications</a>.
Enliven&#8217;s pipeline includes:
<ul>
<li>ELVN-001— a tyrosine kinase inhibitor (TKI) targeting mutant BCR::ABL. HC Wainwright highlights that ELVN-001 could meaningfully improve on existing TKI drugs used in chronic myelogenous leukemia, with applicability across multiple lines of therapy.</li>
<li>In April, the company released proof of concept data from the Phase 1 trial of ELVN-001 in patients with chronic myeloid leukemia (CML) who are relapsed, refractory, or <a href="https://www.benzinga.com/general/biotech/24/04/38208363/enliven-therapeutics-shares-first-look-at-safety-clinical-activity-of-lead-program" target="_blank" rel="noreferrer noopener">intolerant to available TKIs</a>.</li>
<li>ELVN-001 achieved a cumulative major molecular response (MMR) rate of 44% (7/16) by 12 weeks and demonstrated responses in patients with prior exposure to asciminib and who were TKI-resistant.</li>
<li>ELVN-002 is being evaluated in combination with trastuzumab plus chemotherapy or as monotherapy in HER2-driven malignancies within non-small cell lung, colorectal, and metastatic breast cancer, among others.</li>
</ul>
The analyst initiates with a Buy rating and a <a target="_blank" href="https://www.benzinga.com/quote/ELVN/analyst-ratings" rel="noreferrer noopener">price target of $37</a>.
CML is a chronic disease requiring multiple years of continuous treatment. Patients frequently switch therapies due to liabilities of the existing approved drugs, including poor tolerability due to off-target effects and inability to dose to maximal efficacy.
Six approved drugs—Novartis AG&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) Gleevec (imatinib), Scemblix (asciminib), and Tasigna (nilotinib), Bristol-Myers Squibb &amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Sprycel (dasatinib), Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) Bosulif (bosutinib), and Takeda Pharmaceutical Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) Iclusig (ponatinib)—generate over $6 billion in annual sales, with each drug bringing in around $500 million. Some even achieve peak annual sales of up to $2 billion despite competition from generic versions.
HC Wainwright analyst projects that positioning ELVN-001 as a third-line treatment could surpass $500 million in peak annual sales.
ELVN-002 has the potential to address unmet needs in HER2-mutant NSCLC, CRC, and mBC, where current treatments have limitations. It could challenge competitors like Pfizer&#8217;s Tukysa and tap into the growing post-AstraZeneca Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) Enhertu market, with sales possibly reaching hundreds of millions.
While Enliven focuses on precision oncology, its target market is broader than that of past agents like Bristol-Myers&#8217; Augtyro (repotrectinib) and Roche Holdings AG&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>) Rozlytrek (entrectinib).
Price Action: ELVN stock is up 7.32% at $23.01 at the last check on Monday.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/09/40778617/cytokinetics-sets-stage-for-mid-stage-study-for-heart-failure-drug-after-encouraging-data-from-ph" target="_blank" rel="noreferrer noopener">Cytokinetics Sets Stage For Mid-Stage Study For Heart Failure Drug After Encouraging Data From Phase 1 Study</a>.</li>
</ul>

Movers

ELVN

RHHBY

Enliven Therapeutics' Leukemia Candidate Could Challenge Pfizer, AstraZeneca In Broader Target Market: Analyst

Federal regulators are grappling with a significant backlog of factory inspections for drug manufacturing, with many facilities not reviewed since before the pandemic.
An analysis by The Associated Press of FDA data revealed that approximately 42% of the 4,700 registered plants have not undergone FDA surveillance inspections since 2019.
These facilities produce crucial medicines such as antibiotics, blood thinners, and cancer therapies, raising concerns over potential contamination and quality issues.
An AP analysis reveals that approximately 2,000 pharmaceutical manufacturers have not undergone FDA surveillance inspections since before the pandemic. This oversight raises potential contamination risks and other safety issues in medications.
A scholar from Duke University expressed concerns about generic drugmakers reducing costs at the expense of quality, which remains unchecked without proper inspections in an ABC News report.
Tainted medications, like the 2022 incident involving antibiotic-resistant bacteria in eyedrops from an Indian factory, underscore the risks of insufficient oversight.
These factories, particularly in India and China, are critical suppliers of low-cost prescription ingredients in the U.S.
Despite the challenges, FDA Associate Commissioner Michael Rogers <a target="_blank" href="https://abcnews.go.com/Health/wireStory/2000-drug-manufacturing-plants-overdue-fda-inspections-after-113414456" rel="noreferrer noopener">asserted</a> that the FDA is the world&#8217;s most stringent drug regulator. However, he acknowledged that inspection rates are still nearly 40% lower than pre-COVID levels, with no set timeline for clearing the backlog.
The situation is exacerbated by staffing challenges, with many experienced inspectors leaving for more flexible job opportunities.
Internationally, the FDA has been using video and online tools for preliminary assessments, but these do not substitute for physical inspections.
The Government Accountability Office has consistently marked this area as high-risk, signaling that more proactive measures are necessary. In the meantime, the FDA focuses on a risk-based approach to prioritize inspections that pose the greatest public health risk.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/09/40750262/mpox-vaccines-challenges-persist-as-congo-receives-first-batch-of-doses-almost-2-years-after-it-d" target="_blank" rel="noreferrer noopener">Mpox Vaccines: Challenges Persist as Congo Receives First Batch Of Doses Almost 2 Years After It Declared Epidemic</a>.</li>
</ul>
Photo via Shutterstock

Government

Regulations

BMRN

UTHR

FDA Battles Backlog of Drug Factory Inspections Since COVID-19

Over the weekend, the U.S. government announced first-ever negotiated prices for prescription drugs for ten drugs covered under Medicare Part D that will go into effect <a target="_blank" href="https://www.benzinga.com/general/biotech/23/08/34087337/biden-targets-cancer-diabetes-drugs-in-controversial-medicare-price-battle-wants-to-cut-billions-" rel="noreferrer noopener">beginning January 1, 2026</a>.
The negotiated <a target="_blank" href="https://www.cms.gov/files/document/fact-sheet-negotiated-prices-initial-price-applicability-year-2026.pdf" rel="noreferrer noopener">prices</a> are expected to save an estimated $6 billion in net covered <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40397706/biden-administration-targets-6b-savings-through-medicare-drug-price-negotiations" rel="noreferrer noopener">prescription drug costs</a>.
<ul>
<li>The price of Bristol Myers Squibb Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) blood thinner Eliquis has been negotiated to $231.</li>
<li>Eli Lilly And Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) diabetes treatment, Jardiance, is priced at $197, down 66%.</li>
<li>Johnson &amp; Johnson&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) Xarelto (blood thinner), Stelara (psoriasis, arthritis, ulcerative colitis, Crohn&#8217;s disease), Imbruvica (blood cancer) could be available at $197, $4,695, and $9,319, respectively people enrolled in Medicare prescription drug coverage.</li>
<li>Merck &amp; Co Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) blood pressure drug, Januvia, is priced at $113.</li>
<li>AstraZeneca Plc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) Farxiga (chronic kidney disease, heart failure, type 2 diabetes) will cost $178.50.</li>
<li>Novartis AG&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) heart failure drug Entresto&#8217;s price was cut by 53% to $295.</li>
<li>Amgen Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) arthritis medicine Enbrel will be priced at $2,355.</li>
<li>Novo Nordisk A/S&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) insulin analog, Fiasp, will cost $119, down 76%.</li>
</ul>
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/40047654/bristol-myers-johnson-johnson-abbvie-astrazeneca-expect-minimal-impact-from-upcoming-medicare-pri" rel="noreferrer noopener">Bristol Myers, Johnson &amp; Johnson, AbbVie, AstraZeneca Expect Minimal Impact From Upcoming Medicare Price Negotiations</a>.
A Reuters review found that the negotiated prices for Medicare are still more than double, and sometimes five times, what drugmakers have agreed to in countries like Sweden, Canada, Japan, and Australia.
<ul>
<li>A 30-day supply of nine out of ten drugs will still cost Medicare $17,581 in 2026, compared to just $6,725 in Sweden today.</li>
</ul>
Experts highlight that the U.S. has long accepted its role as the highest payer for prescription drugs, viewing it as a trade-off for early access to new medicines.
Bristol Myers stated that pricing is specific to each country, based on national health systems and regulatory policies. Merck argued that comparing U.S. prices to overseas generics is invalid.
The U.S. agency overseeing Medicare stated that international prices were not considered in the negotiations, which focused instead on factors like manufacturer data and the availability of alternative treatments.
The U.S.&#8217;s willingness to pay more for drugs also drives up prices globally, as other countries benefit from lower prices due to U.S. expenditures.
The lack of generic competition in the U.S. for certain drugs further exacerbates the problem. For instance, a biosimilar to Amgen&#8217;s Enbrel, which costs Medicare $2,355 for a 30-day supply, is available in Sweden for just $709.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/08/40534249/novo-nordisks-ozempic-might-be-among-2027-medicare-price-negotiation-targets" target="_blank" rel="noreferrer noopener">Novo Nordisk&#8217;s Ozempic Might Be Among 2027 Medicare Price Negotiation Targets</a>.</li>
</ul>
Image credit: Dall-E 3

Media

AMGN

Despite Medicare Negotiations, Americans May Still Have To Pay More For Prescription Drugs

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com%2F&amp;esheet=54115662&amp;newsitemid=20240830173433&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=3e88a641f1abae4288691c315548abf4">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced new long-term follow-up results from the EXPLORER-LTE cohort of the MAVA-Long-Term Extension (LTE) study evaluating CAMZYOS&#xAE; (mavacamten) in adult patients with New York Heart Association (NYHA) class II-III symptomatic obstructive hypertrophic cardiomyopathy (oHCM).
The long-term follow-up efficacy and safety data, presented today at the European Society of Cardiology (ESC) Congress in London, reinforce the established efficacy and safety profile of CAMZYOS, a first-in-class cardiac myosin inhibitor. With inclusion in both the ESC and AHA/ACC clinical guidelines as a recommended option for when symptoms persist after first-line therapy, CAMZYOS is a standard of care for symptomatic oHCM.
Patients experienced consistent and sustained improvements in echocardiographic measures and biomarkers after up to 3.5 years (180 weeks) of continuous treatment, including resting left ventricular outflow tract (LVOT) gradient, Valsalva LVOT gradient, left atrial volume index and N-terminal pro B-type natriuretic peptide (NT-proBNP) levels. They also experienced an improvement in symptoms and functional capacity as measured by NYHA class and patient-reported outcomes, including most patients achieving NYHA class I. The safety profile of CAMZYOS for up to 3.5 years remained consistent with the established safety profile, with no new safety signals identified.

Reported Earlier, Bristol Myers Squibb Presents 3.5-Year Data on CAMZYOS at ESC 2024

Each week,&nbsp;Benzinga&#8217;s Stock Whisper Index&nbsp;uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the&nbsp;<a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.
Here's a look at the Benzinga Stock Whisper Index for the week of Aug. 30:
Realty Income Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/O#NYSE">O</a>): Known to many as "the monthly dividend company," Realty Income is a real estate investment trust that pays out dividends on a monthly basis. 
The stock saw increased interest from investors during the week, which could be related to a search for income to add to portfolios. The company <a href="https://www.realtyincome.com/investors/press-releases/realty-income-announces-operating-results-three-and-six-months-ended-2">reported </a>adjusted funds from operations of $1.06 for the three months ending June 30.
"Supporting our stable and growing cash flow stream, our liquidity position remains strong, and our operations and portfolio of leading clients are healthy. Given these strengths, I am confident our global, diversified platform remains positioned to continue to deliver favorable risk-adjusted returns, given our current visibility into our future pipeline of opportunities," Realty Income CEO Sumit Roy said.
The company could be seeing interest from investors due to its stable history of paying out and increasing dividends. Realty Income shares are up 1.1% over the last week as seen on the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1">Benzinga Pro chart </a>below and up 4.8% year-to-date in 2024.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102038/Screenshot-150.png" alt="" class="wp-image-523402" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102038/Screenshot-150.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102038/Screenshot-150-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102038/Screenshot-150-768x387.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>
Bristol-Myers Squibb Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>): The global biopharmaceutical company saw increased interest from investors during the week, which could be for numerous reasons.
The company is<a href="https://www.benzinga.com/m-a/24/08/40586451/regulators-expected-to-approve-innovative-schizophrenia-treatment-from-bristol-myers-karuna"> expected to see approval</a> for its schizophrenia treatment KarXT next month. The drug comes from Bristol Myers Squibb and Karuna Therapeutics, a company it acquired for $14 billion in December 2023.
In July, the company <a href="https://www.benzinga.com/general/biotech/24/07/39982236/bristol-myers-squibb-witnesses-strong-demand-for-newer-drugs-as-q2-earnings-beat-expectations-rai">reported second-quarter revenue</a> that beat analyst estimates with the company's portfolio of drugs and key blood thinner treatment Eliquis seeing strong growth.
"As we move into the second half of the year, we remain focused on prioritizing opportunities with the greatest growth potential and impact for patients, including the anticipated U.S. launch of KarXT," Bristol-Myers Squibb CEO Christopher Boerner said after second-quarter results.
Three analysts<a href="https://www.benzinga.com/quote/BMY/analyst-ratings"> raised price targets </a>on the company in August after the quarterly results. Bristol-Myers Squibb shares were up 4.3% over the last week and remain down on a year-to-date basis.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102054/Screenshot-151.png" alt="" class="wp-image-523403" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102054/Screenshot-151.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102054/Screenshot-151-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102054/Screenshot-151-768x387.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>
Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>): The insurance company saw strong interest from investors on minimal news. 
The attention to the company could be coming as 2024 was expected to be an <a href="https://www.benzinga.com/markets/equities/24/08/40259269/storm-debby-headed-for-nyc-highly-populated-areas-as-catastrophic-flooding-persists">above-average hurricane season</a> according to forecasts, but so far has been on the milder side. 
A milder season could benefit the company financially. Travelers shares were up 3.1% over the last week and are up 18% year-to-date in 2024.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="999" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102109/Screenshot-152.png" alt="" class="wp-image-523404" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102109/Screenshot-152.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102109/Screenshot-152-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102109/Screenshot-152-768x384.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>
Innovative Eyewear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>): Shares of the eyeglasses and sunglasses company<a href="https://www.benzinga.com/news/24/08/40634171/innovative-eyewear-stock-is-soaring-today-whats-going-on"> surged during the week</a> on news of the company's products being sold through Target's digital channels. 
The company's Lucyd Lyte frames are now available on Target.com. The low-float, $8 million company was highly volatile on the news as it is working to develop ChatGPT-enabled smart eyewear under its Lucyd brand and licensed brands like Nautica, Eddie Bauer and Reebok.
Shares of the company were up 38% over the last week, but remain down 43% year-to-date in 2024.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="999" height="510" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102125/Screenshot-153.png" alt="" class="wp-image-523405" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102125/Screenshot-153.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102125/Screenshot-153-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102125/Screenshot-153-768x392.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>
Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>): Utility stocks continue to be strong performers in recent weeks, which could be why Edison International saw strong interest from Benzinga readers during the week. 
The owner of Southern California Edison has over five million utility customers. The company saw several analysts<a href="https://www.benzinga.com/quote/EIX/analyst-ratings"> raise price targets </a>after quarterly earnings. 
Edison International is forecasting strong growth ahead along with working on minimizing the risk of fires in California. Shares of the utility company were up around 2% over the last week and are up nearly 20% year-to-date in 2024.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="997" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102141/Screenshot-154.png" alt="" class="wp-image-523407" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102141/Screenshot-154.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102141/Screenshot-154-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/30102141/Screenshot-154-768x385.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>
Stay tuned for next week&#8217;s report, and follow Benzinga Pro for all the latest headlines and&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent083024&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>
Read the latest Stock Whisper Index reports here:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40135938/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">August 2</a></li>
<li><a href="https://www.benzinga.com/top-stories/24/08/40284758/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">August 9</a></li>
<li><a href="https://www.benzinga.com/general/biotech/24/08/40420145/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">August 16</a></li>
<li><a href="https://www.benzinga.com/top-stories/24/08/40531771/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">August 23</a></li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/top-stories/24/08/40119459/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-july-2024-where-do-tesla-nvidia-apple-crow">EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In July 2024 – Where Do Tesla, Nvidia, Apple, CrowdStrike Rank?</a></li>
</ul>

Exclusives

LUCY

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Jefferies analyst Akash Tewari maintains Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Hold and raises the price target from $49 to $51.

Jefferies Maintains Hold on Bristol-Myers Squibb, Raises Price Target to $51

Wednesday, Neurocrine Biosciences, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) topline data for its Phase 2 clinical study of NBI-1117568 (NBI-&#8216;568) in <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40596900/neurocrine-biosciences-reports-positive-phase-2-data-for-nbi-1117568-in-adults-with-schizophrenia" rel="noreferrer noopener">adults with schizophrenia</a>.
NBI-&#8216;568 is the first investigational, oral, muscarinic M4 <a target="_blank" href="https://www.benzinga.com/quote/nbix" rel="noreferrer noopener">selective agonist</a>.
The new data showed that the once-daily 20 mg dose of NBI-&#8216;568 induced an average 18.2-point reduction from baseline in the Positive and Negative Syndrome Scale (PANSS) after six weeks, compared to 10.8 points in the placebo group.
Also Read: <a target="_blank" href="https://www.benzinga.com/m-a/24/08/40586451/regulators-expected-to-approve-innovative-schizophrenia-treatment-from-bristol-myers-karuna" rel="noreferrer noopener">Regulators Expected To Approve Innovative Schizophrenia Treatment From Bristol Myers, Karuna</a>.
That 7.5-point difference reached statistical significance with a p-value of p=0.011.
The company noted that none of the other three higher-dosing groups (30, 40, and 60 mg) reached statistical significance.
William Blair notes that while this effect size is in line with what was demonstrated by Bristol Myers Squibb&nbsp;Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;acquired Karuna&#8217;s KarXT, the 7.5 delta versus placebo is lower than the 11.6 difference in the Phase 3 EMERGENT-2 study.
It was also lower than the 0.75 effect size and 11.6-point delta from placebo from the EMERGENT-1 Phase 2 study and the 12.7-point and 11.1-point improvement over placebo with AbbVie Inc&#8217;s (formerly Cerevel&#8217;s) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) emraclidine.
&#8220;We do highlight that the placebo improvement of 10.8 points is greater than what was seen in prior Phase II studies of KarXT and emraclidine, which is unsurprising given potential expectation bias around a more well-validated mechanism and is more in line with prior studies of antipsychotics historically,&#8221; William Blair analyst adds.
Price Action: NBIX stock is down 18.90% at $123.71&nbsp;at the last check on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/08/40601410/novartis-cholesterol-lowering-drug-shows-encouraging-outcome-in-late-stage-study" target="_blank" rel="noreferrer noopener">Novartis&#8217; Cholesterol-Lowering Drug Shows Encouraging Outcome In Late-Stage Study</a>.</li>
</ul>

NBIX

As Regulators Gear Up To Decide On Bristol Myers' Schizophrenia Treatment, Neurocrine Biosciences' Data Disappoints Investors

U.S. stocks were mixed, with the Dow Jones index gaining around 50 points on Wednesday.
Shares of Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) rose during Wednesday's session following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/08/40599429/kohls-q2-earnings-profit-beat-inventory-decline-margin-growth-and-more">second-quarter financial results.</a>
The company reported a net sales decline of 4.2% Y/Y to $3.525 billion, with comparable sales for the quarter decreasing 5.1% Y/Y. Total revenue stood at $3.732 billion. The analyst consensus estimate was $3.583 billion. EPS was 59 cents, beating the analyst consensus estimate of 44 cents.
Kohl&#8217;s shares climbed 5.6% to $20.71 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Waldencast plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WALD#NASDAQ">WALD</a>) jumped 41.5% to $4.0920 after the company reported second-quarter revenue growth.</li>
<li>AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) gained 17.6% to $209.40 after multiple analysts upgraded the stock and raised their price targets.</li>
<li>VNET Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNET#NASDAQ">VNET</a>) gained 17.1% to $2.34 following second-quarter results.</li>
<li>Xiao-I Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIXI#NASDAQ">AIXI</a>) rose 12.3% to $5.45.</li>
<li>Bioceres Crop Solutions Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIOX#NASDAQ">BIOX</a>) climbed 12.1% to $11.32. Bioceres Crop Solutions received green light for cultivation of Drought Tolerant HB4 Wheat in the United States.</li>
<li>Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) surged 11.3% to $58.82 after the company reported better-than-expected second-quarter adjusted EPS and sales.</li>
<li>Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) gained 10.1% to $31.73 after the company reported better-than-expected second-quarter financial results and issued FY25 guidance above estimates.</li>
<li>MannKind Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNKD#NASDAQ">MNKD</a>) jumped 10.2% to $5.93. Oppenheimer analyst Steven Lichtman maintained MannKind with an Outperform and raised the price target from $10 to $12.</li>
<li>Westrock Coffee Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEST#NASDAQ">WEST</a>) gained 9.9% to $9.35. Westrock Coffee Company commenced warrant exchange offer and consent solicitation.</li>
<li>The Hain Celestial Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAIN#NASDAQ">HAIN</a>) gained 10.2% to $8.93. Hain Celestial Group, on Tuesday, reported better-than-expected quarterly adjusted EPS results</li>
<li>AvePoint, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVPT#NASDAQ">AVPT</a>) jumped 8.5% to $11.69 after the company announced it commenced an offer to purchase all outstanding public warrants to purchase shares of its common stock at $2.50 per share without interest.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) gained 8.2% to $28.04 following quarterly results.</li>
<li>Concentrix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>) gained 4.4% to $75.49. B of A Securities analyst Ruplu Bhattacharya upgraded Concentrix from Underperform to Neutral and raised the price target from $65 to $85.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) rose 3.3% to $49.68.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40600771/ambarella-to-rally-around-61-here-are-10-top-analyst-forecasts-for-wednesday">Ambarella To Rally Around 61%? Here Are 10 Top Analyst Forecasts For Wednesday</a></li>
</ul>

Intraday Update

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MNKD

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WALD

WEST

Kohl's Posts Upbeat Q2 Earnings, Joins Box, Waldencast, AeroVironment And Other Big Stocks Moving Higher On Wednesday

Some 3 million Americans, and approximately 24 million people worldwide, are likely looking forward to a pivotal date next month in which U.S. regulators are expected to decide on whether to approve a new — more innovative — <a href="https://www.benzinga.com/general/health-care">schizophrenia drug.</a>
What Happened: The U.S. Food and Drug Administration has set Sept. 26 as the date to give final approval to a new drug from Karuna Therapeutics.
Bristol Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) bought Karuna <a href="https://www.benzinga.com/general/biotech/23/12/36360205/bristol-myers-squibb-scoops-up-schizophrenia-player-karuna-therapeutics-in-massive-14b-deal">for about $14 billion</a> in late 2023.
The treatment has doctors and patients excited: up until now, schizophrenia drugs were notorious for their severe side effects.
According to Bloomberg&#8217;s Gerry Smith, Karuna was able to take an Alzheimer's drug developed by Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and pair it with another drug.
&#8220;By stimulating the receptors inside the brain and blocking those outside, Karuna was able to treat the symptoms and limit the side effects,&#8221; Smith <a href="https://www.bloomberg.com/news/newsletters/2024-08-27/schizophrenia-gets-first-new-types-of-drugs-in-decades?srnd=undefined">writes</a> in a newsletter.
See Also: <a href="https://www.benzinga.com/news/24/08/40545701/massachusetts-enforces-nighttime-curfews-amid-outbreak-of-rare-deadly-mosquito-virus">Massachusetts Enforces Nighttime Curfews Amid Outbreak of Rare, Deadly Mosquito Virus</a>
Why It Matters: Schizophrenia affects approximately 1 in 300 people across the globe, according to the <a href="https://www.who.int/news-room/fact-sheets/detail/schizophrenia">World Health Organization</a>.
Less than half of patients stay on medications due to side effects like weight gain and drowsiness. 
Karuna and other biotech and big pharma companies are now more keen on developing new treatments for this particular mental illness that have minimal side effects. Before, there hadn&#8217;t been a new type of schizophrenia treatment in more than 70 years.
What&#8217;s Next: Expect to hear progress on Cerevel Therapeutics&#8216; schizophrenia drug, emraclidine. AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) acquired the company <a href="https://www.benzinga.com/general/biotech/23/12/36123803/why-cerevel-therapeutics-holdings-is-moving-after-hours">last year for $9 billion</a>.
Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) and Nxera Pharma Co. also have a schizophrenia treatment in the works. 
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/partner/biotech/24/08/40549228/the-potential-of-ketamir-2-a-safer-treatment-for-mental-health-disorders-and-neuropathic-pain-ind">The Potential Of Ketamir-2: A Safer Treatment For Mental Health Disorders And Neuropathic Pain, IND Filing Expected By Year-End</a></li>
</ul>
Image: Shutterstock.

Regulators Expected To Approve Innovative Schizophrenia Treatment From Bristol Myers, Karuna

Financial giants have made a conspicuous bullish move on Bristol-Myers Squibb. Our analysis of options history for Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) revealed 10 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $884,473, and 3 were calls, valued at $165,384.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $55.0 for Bristol-Myers Squibb over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bristol-Myers Squibb's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bristol-Myers Squibb's significant trades, within a strike price range of $25.0 to $55.0, over the past month.
<h3>Bristol-Myers Squibb Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724783445_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>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$2.78</td>
<td>$2.71</td>
<td>$2.75</td>
<td>$47.00</td>
<td>$467.5K</td>
<td>7.1K</td>
<td>2.3K</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/15/25</td>
<td>$2.87</td>
<td>$2.21</td>
<td>$2.6</td>
<td>$43.00</td>
<td>$195.0K</td>
<td>1.6K</td>
<td>750</td>
</tr>
<tr>
<td>BMY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$0.93</td>
<td>$0.87</td>
<td>$0.91</td>
<td>$55.00</td>
<td>$91.0K</td>
<td>16.3K</td>
<td>1.0K</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$2.84</td>
<td>$2.81</td>
<td>$2.81</td>
<td>$47.00</td>
<td>$73.6K</td>
<td>7.1K</td>
<td>512</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$4.85</td>
<td>$4.75</td>
<td>$4.85</td>
<td>$50.00</td>
<td>$61.6K</td>
<td>181</td>
<td>1</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 U.S., showing a higher dependence on the U.S. market than most of its peer group.
In light of the recent options history for Bristol-Myers Squibb, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Bristol-Myers Squibb's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 3,200,018, the BMY's price is up by 1.31%, now at $48.87. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 58 days.</li>
</ul>
<h3>Expert Opinions on Bristol-Myers Squibb</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $45.333333333333336.
<ul>
<li>In a cautious move, an analyst from Barclays downgraded its rating to Underweight, setting a price target of $41. </li>
<li>Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Bristol-Myers Squibb with a target price of $53. </li>
<li>An analyst from Barclays has decided to maintain their Underweight rating on Bristol-Myers Squibb, which currently sits at a price target of $42. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Bristol-Myers Squibb, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Market Whales and Their Recent Bets on BMY Options

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com%2F&amp;esheet=54112880&amp;newsitemid=20240823435371&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=920fa13dd1fcd6bf52b5c0cf98261c63">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced the presentation of research across its robust cardiovascular portfolio at the European Society of Cardiology(ESC) Congress, taking place August 30 – September 2, 2024, in London, England. Data to be presented at the meeting includes long-term extension data evaluating the efficacy and safety profile of CAMZYOS&#xAE; (mavacamten) up to 180 weeks (3.5 years) for the treatment of New York Heart Association (NYHA) class II-III symptomatic obstructive hypertrophic cardiomyopathy (oHCM), as well as data on behalf of the BMS-Pfizer Alliance on ELIQUIS&#xAE; (apixaban) and the BMS-Johnson &amp; Johnson Collaboration on milvexian.

Bristol Myers Squibb To Present New Findings on CAMZYOS, ELIQUIS, and Milvexian Cardiovascular Treatments at ESC Congress

Analyst Mohit Bansal from Wells Fargo maintained a Hold rating on Bristol-Myers Squibb (BMY – Research Report) and keeping the price target at $52....

Evaluating Bristol-Myers Squibb: A Balanced View Amidst NSCLC Treatment Prospects and Market Uncertainties

In a report released today, Srikripa Devarakonda from Truist Financial maintained a Buy rating on Bristol-Myers Squibb (BMY – Research Report). The...

Truist Financial Remains a Buy on Bristol-Myers Squibb (BMY)

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Long-Term Follow-Up Data from Phase 3 Study of CAMZYOS® (mavacamten) Underscores Established Efficacy and Safety Profile in Patients with Symptomatic Obstructive Hypertrophic Cardiomyopathy (oHCM)

Bristol Myers Squibb Employees to Relay Nearly 3,000 Miles Cross-Country Aspiring to Raise Over $1 Million for the V Foundation for Cancer Research

Bristol Myers Squibb to Present Data at ESMO Demonstrating Ongoing Leadership in Immuno-Oncology and Progression of Assets from Its Differentiated Research Platforms

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

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