Andrew Fein, an analyst from H.C. Wainwright, reiterated the Buy rating on Blueprint Medicines (BPMC – Research Report). The associated price target remains the same with $135.00.
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Andrew Fein has given his Buy rating due to a combination of factors underpinning the strong potential of Blueprint Medicines. Although the company’s shares dipped following its 2024 revenue report, Fein believes the market’s reaction underestimates the true growth prospects of Ayvakit, Blueprint’s leading drug. The drug’s ability to potentially outperform revenue expectations is driven by an expanding patient base, high compliance rates, and the possibility of extended treatment durations. Furthermore, the European market is seen as a significant opportunity for growth, contributing to the optimistic outlook.
Additionally, recent data highlights Ayvakit’s strong efficacy and tolerability, with patients maintaining stable dosages and showing improvements in symptom scores and bone health over time. The drug’s long-term safety and effectiveness, shown in real-world settings, bolster confidence in its continued success. As prescriber awareness grows across various medical specialties, Fein anticipates significant market penetration, supporting his positive stance on the stock’s future performance.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $125.00 price target.