Bradley Canino, an analyst from Stifel Nicolaus, maintained the Buy rating on Blueprint Medicines (BPMC – Research Report). The associated price target remains the same with $155.00.
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Bradley Canino’s rating is based on several strategic factors surrounding Blueprint Medicines’ potential for growth. The company’s management has signaled an acceleration in the adoption of Ayvakit, with expectations for increased patient starts and retention rates. Despite concerns about meeting the $2 billion revenue target by 2030, the management remains confident due to the significant market potential and ongoing expansion in prescriber reach.
Moreover, Blueprint Medicines is the pioneer in the ISM market and is actively expanding its marketing efforts to new medical specialties, which could potentially increase the breadth and depth of Ayvakit’s market presence. Additionally, upcoming research and development initiatives, including proof-of-concept studies for BLU-808, may provide further positive momentum with early data expected later in 2025. These factors, combined with favorable long-term safety data from existing studies, support the optimistic outlook and justify the Buy recommendation.
Canino covers the Healthcare sector, focusing on stocks such as Blueprint Medicines, Kura Oncology, and Affimed. According to TipRanks, Canino has an average return of 0.4% and a 35.83% success rate on recommended stocks.
In another report released today, Needham also maintained a Buy rating on the stock with a $133.00 price target.