Blueprint Medicines selloff to be short-lived, says Oppenheimer

Oppenheimer analyst Matthew Biegler says Blueprint Medicines (BPMC) reported Q4 Ayvakit sales of $146M, in line with consensus but below the firm’s $150M estimate. The company’s earnings will need to accelerate if Blueprint plans to reach its $2B by 2030 goal, the analyst tells investors in a research note. Opco expects some weakness in the shares post the earnings report, but says this will be short-lived with data later this month showcasing the “differentiated profile” of Blueprint’s second drug BLU-808. The stock in morning trading is down 8% to $95.58. The firm keeps an Outperform rating on the name with a $130 price target