UBS reaffirmed its Buy rating for Bristol-Myers Squibb. The investment bank set a price target of $70.00 for the stock.
Analysts identify milvexian, a Factor XI inhibitor, as a pivotal catalyst for future growth. Phase III trial data for the drug is expected by the end of 2026. Milvexian is positioned as a successor to Eliquis, which is approaching its loss of exclusivity.
UBS projects the trial results for atrial fibrillation could trigger a 15% swing in the stock price. The bank estimates a 35% to 45% probability of success for the trial. This forecast underscores the high-risk, high-reward nature of the company’s late-stage pipeline.