Bristol-Myers Squibb's KarXT Faces FDA Approval Hurdles: Analyst Issues Sell Rating Amid ...
Morgan Stanley's Terence Flynn maintains a Sell rating on BMY stock due to potential FDA labeling concerns for KarXT, despite high anticipation for its schizophrenia treatment approval. Flynn anticipates a 5% stock decrease if KarXT's label includes restrictive measures, and significant growth hinges on KarXT's Alzheimer's disease psychosis indication or ABBV's emraclidine failure. Barclays also assigns a Sell rating with a $42.00 price target.
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Morgan Stanley's Terence Flynn maintains a Sell rating on BMY stock due to potential FDA labeling concerns for KarXT, despite high anticipation for its schizophrenia treatment approval. Flynn anticipates a 5% stock decrease if KarXT's label includes restrictive measures, and significant growth hinges on KarXT's Alzheimer's disease psychosis indication or ABBV's emraclidine failure. Barclays also assigns a Sell rating with a $42.00 price target.