Analyst Michael Yee from Jefferies maintained a Buy rating on Blueprint Medicines (BPMC – Research Report) and keeping the price target at $135.00.
Michael Yee’s rating is based on several compelling factors that highlight the potential for Blueprint Medicines’ stock to perform well. The company’s strong growth profile, characterized by its ability to consistently exceed revenue expectations, positions it favorably in the market. Additionally, its potential as a significant M&A candidate adds a layer of strategic value, especially given its focus on rare diseases with premium pricing and limited competition.
Furthermore, Blueprint Medicines’ pipeline, particularly the WT KIT ‘808 oral pill, presents substantial upside potential. The early Phase 1 data has shown promising safety and efficacy results, which could translate into a significant market opportunity across multiple inflammatory indications. Despite some concerns about near-term risks, such as Q1 performance and competitor data, the overall sentiment among investors remains positive, with expectations of continued strong performance and potential stock rally following these events.
In another report released on March 17, Wolfe Research also initiated coverage with a Buy rating on the stock with a $132.00 price target.
BPMC’s price has also changed slightly for the past six months – from $91.680 to $88.470, which is a -3.50% drop .