In a report released today, Ami Fadia from Needham maintained a Buy rating on Blueprint Medicines (BPMC – Research Report), with a price target of $97.00.
Ami Fadia has given his Buy rating due to a combination of factors surrounding Blueprint Medicines’ recent data presentations and ongoing clinical studies. The PIONEER study evaluating Ayvakit, in particular, has shown consistent clinical benefits for patients with Indolent Systemic Mastocytosis (ISM). Over an extended period, the medication sustained its effectiveness, with a significant proportion of patients experiencing a reduction in symptoms. This consistent performance from Week 24 to Week 48, alongside a favorable safety profile, underpins Fadia’s positive outlook on the drug’s potential.
Furthermore, Ami Fadia’s optimism is bolstered by the impact of Ayvakit on patients’ reliance on additional medications for best supportive care (BSC). The data indicated not only a reduction in BSC medication usage but also complete discontinuation in some cases, enhancing the quality of life for patients. Additionally, the preclinical promise of BLU-808, which shows potential for treating mast cell disorders, adds to the strategic value of Blueprint Medicines’ pipeline and supports the recommendation of a Buy rating.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $114.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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 announces PIONEER trial results
- Blueprint Medicines Divests GAVRETO Rights to Rigel
- Blueprint Medicines price target raised to $97 from $92 at Needham
- Blueprint Medicines price target lowered to $107 from $115 at Wells Fargo
- Blueprint Medicines price target raised to $65 from $54 at Citi
