In a report released yesterday, Dane Leone from BTIG maintained a Buy rating on Blueprint Medicines (NASDAQ: BPMC), with a price target of $107. The company’s shares closed on Friday at $84.48.
Leone commented:
“ASCO, we attended the presentation of LOXO-292, a selective RET inhibitor that is on parallel clinical studies with BLU- 667. We present our interpretation of the response rates (ORR) and Adverse Events within our note on LOXO (LOXO, Buy, $216), but have reduced our expectations for BLU-667 relative to LOXO-292 within RET Fusion NSCLC, and raised market expectations for Medullary Thyroid Cancer. Overall, we retain our Buy rating and $107 PT.”
According to TipRanks.com, Leone is a top 100 analyst with an average return of 21.9% and a 74.6% success rate. Leone covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics Inc, Vertex Pharmaceuticals, and G1 Therapeutics Inc.
Currently, the analyst consensus on Blueprint Medicines is Strong Buy and the average price target is $106.75, representing a 26.4% upside.
In a report issued on May 24, Cowen & Co. also assigned a Buy rating to the stock.
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The company has a one-year high of $109 and a one-year low of $34.67. Currently, Blueprint Medicines has an average volume of 426.2K.
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Blueprint Medicines Corp. engages in the research, development, and commercialization of pharmaceutical products. It focuses on medicines to improve the lives of patients with genomically defined cancers and rare diseases. Its portfolio includes BLU-285 and BLU-554 for the treatment of gastrointestinal stromal tumors, systemic mastocytosis, and leukemia.
