Bristol-Myers Squibb Company (NYSE:BMY) is one of the cheap stocks to buy for the next 3 years. On January 9, Scotiabank analyst Louise Chen raised the firm’s price target on Bristol-Myers to $60 from $53, while maintaining a Sector Perform rating on the shares. With the stock trading at an inexpensive valuation and several key milestones on the horizon, the firm views the upcoming catalyst-rich year as a strong buying opportunity.
In other news, on December 11, the FDA granted Priority Review to Bristol-Myers Squibb Company’s supplemental application for Opdivo (nivolumab) combined with AVD chemotherapy. The potential new frontline treatment is for adult and pediatric patients (12+) with Stage III or IV classical Hodgkin Lymphoma. The target action date/PDUFA is set for April 8, 2026.
The application is supported by the Phase 3 SWOG S1826 study, which showed that the Opdivo-AVD regimen significantly improved progression-free survival/PFS compared to the current standard. At a 2.1-year median follow-up, the PFS rate for the Opdivo arm was 92% versus 83% for the control group, with an even more pronounced benefit observed in patients over age 60.
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide.
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This article is originally published at Insider Monkey.
