** 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))