Blueprint Medicines (BPMC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ami Fadia from Needham maintained a Buy rating on the stock and has a $92.00 price target.
Ami Fadia has given a Buy rating to Blueprint Medicines based on a confluence of positive financial results and optimistic sales projections. The company’s fourth-quarter revenue of $71.9 million exceeded the consensus estimate by 7.1%, with its flagship product, Ayvakit, surpassing sales expectations by 14%. This robust financial performance is further underscored by an earnings per share (EPS) result that was notably better than the market consensus, attributed to a combination of higher revenues and reduced operating expenses.
Moreover, Fadia’s confidence is bolstered by the company’s financial guidance for the upcoming year, which forecasts Ayvakit net revenues to be between $360 and $390 million. This guidance is particularly promising as even the lower end surpasses the consensus estimate of $355 million, indicating strong potential for continued financial success. It is anticipated that these factors will contribute to an uptick in the stock’s trading value, reinforcing the Buy rating decision.
In another report released on February 5, Stifel Nicolaus also maintained a Buy rating on the stock with a $97.00 price target.
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Blueprint Medicines (BPMC) Company Description:
Blueprint Medicines Corp. is a precision therapy company. It focuses on medicines to improve the lives of patients with genomically defined cancers, rare diseases and cancer immunotherapy. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.
Read More on BPMC:
- Blueprint Medicines Reports Fourth Quarter and Full Year 2023 Results
- Blueprint Medicines price target raised to $70 from $58 at Barclays
- BPMC Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Blueprint Medicines price target raised to $90 from $85 at Oppenheimer
- Blueprint Medicines price target raised to $78 from $58 at Piper Sandler
