AbbVie Inc.’s disappointing trial results for its new schizophrenia drug bode well for rival Bristol Myers Squibb Co., analysts said. On Monday AbbVie said that its Phase 2 trial investigating emraclidine as a once-daily oral monotherapy treatment for adults with schizophrenia did not meet the primary endpoint of showing a “statistically significant” improvement when compared with a placebo group.

AbbVie (ABBV) shares slide after its schizophrenia drug failed to meet the goals of its mid-stage trial. Shares of Bristol-Myers Squibb (BMY), a competitor which makes a similar drug, have jumped. Market Domination Hosts Julie Hyman and Josh Lipton outline what investors need to know.

Leerink Partners upgraded Bristol-Myers Squibb (NYSE:BMY) to Outperform from Market Perform on Tuesday, boosting sales projections for the company’s new schizophrenia therapy Cobenfy following a trial setback to a potentially competing product from AbbVie (ABBV).