** Bristol Myers Squibb BMY.N said on Tuesday its drug Cobenfy failed to show a statistically significant difference in a keenly watched late-stage trial that would help expand its use as an add on treatment for schizophrenia
** Median PT of brokerages covering the stock is $55.50, per data compiled by LSEG
MODEST EFFICACY
** Leerink Partners ("outperform", PT:$55") says the adjunctive trial failure demonstrates Cobenfy's efficacy is modest which could mean far less potential than was originally anticipated
** William Blair ("market perform") says the trial blows an opportunity to accelerate the uptake of Cobenfy overall by increasing physician confidence in the drug as a secondary treatment ahead of their own personalized approaches
** BMO Capital Markets ("market perform", PT: $53.00) says it anticipates some continued modest use of Cobenfy given the limited number of options in the adjunctive setting
** Jefferies (PT: $68) says it is still optimistic of Cobenfy in patients with psychosis in Alzheimer's disease (AD)
(Reporting by Christy Santhosh)
((Christy.Santhosh@thomsonreuters.com))
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