Bristol Myers Scores FDA Nod for Opdivo Chemo; Analysts Eye $63 and $75
Bristol Myers Squibb won FDA approval for Opdivo plus AVD chemotherapy in untreated Stage III/IV Hodgkin lymphoma patients aged 12 and older after Study CA209-8UT showed a hazard ratio of 0.42. Technical analysts target $63 and $75 after shares reclaimed the 200-month moving average.
1. FDA Approval Expands Opdivo's Hodgkin Lymphoma Use
On March 20, Bristol Myers Squibb received FDA approval for Opdivo (nivolumab) combined with AVD chemotherapy to treat previously untreated Stage III or IV classical Hodgkin lymphoma in patients aged 12 and older. The decision follows Study CA209-8UT, which reported a hazard ratio of 0.42, reflecting a 58% reduction in risk of disease progression compared with chemotherapy alone.
2. Analyst Technical Targets Highlight Significant Upside
Technical analysts note that BMY shares have reclaimed their 200-month moving average, signaling a bullish trend reversal. Analysts have set price targets of $63 and $75, implying potential upside of 18% and 40% respectively if momentum sustains over the next year.