Bristol-Myers Squibb Raises Price Target to $70 as Myeloma Trial Succeeds
UBS raised its Bristol-Myers Squibb price target to $70 from $65 on March 6, citing late-stage milvexian data in stroke prevention and atrial fibrillation expected in H2 2026 as a catalyst. In a late-stage trial, mezigdomide plus carfilzomib and dexamethasone improved survival in relapsed multiple myeloma.
1. UBS Raises Price Target to $70
On March 6, UBS raised its price target on Bristol-Myers Squibb to $70 from $65 and maintained a Buy rating, highlighting strong late-stage assets and upcoming catalysts. The firm cited milvexian’s potential in stroke prevention and atrial fibrillation as a near-term driver for the shares.
2. Milvexian Phase III Data Catalyst
Bristol-Myers Squibb expects Phase III data for milvexian in stroke prevention and atrial fibrillation in H2 2026, a key catalyst that could validate the oral factor XIa inhibitor’s efficacy and support broader cardiovascular indications. Successful results may underpin label expansion and commercial upside.
3. Mezigdomide Late-Stage Trial Improves Survival
In the SUCCESSOR-2 late-stage trial, mezigdomide combined with carfilzomib and dexamethasone significantly improved survival and progression-free survival in relapsed multiple myeloma patients versus carfilzomib and dexamethasone alone. The positive safety profile and efficacy bolster its CELMoD platform prospects.