Hold Rating Maintained for Bristol-Myers Squibb Amid Uncertainty in CELMoD Franchise Developments
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Matt Phipps maintains a Hold rating for Bristol-Myers Squibb due to uncertainties in the CELMoD franchise developments. While interim results from the Phase III EXCALIBER-RRMM study show promise with iberdomide, crucial data on progression-free survival won't be available until 2026. The ongoing trials against existing treatments and concerns about toxicity at higher doses add caution. BMO Capital also holds a Hold rating with a $47.00 price target.
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