Baird Starts Blueprint Medicines (BPMC) at Outperform

Baird analyst Michael Ulz initiates coverage on Blueprint Medicines (NASDAQ: BPMC) with a Outperform rating and a price target of $120.00.

The analyst commented, "Blueprint is a late clinical-stage company with a validated platform that has built a robust pipeline of highly selective kinase inhibitors. We believe promising data for both lead assets support approval for avapritinib (GIST, SM) and regulatory filing for BLU-667 (NSCLC, MTC) early next year, with opportunities for label expansion. Looking ahead, we expect continued momentum driven by broad pipeline progress and additional catalysts (PIONEER data and R&D Day). Hence, we are initiating with an Outperform rating and $120 price target."

For an analyst ratings summary and ratings history on Blueprint Medicines click here. For more ratings news on Blueprint Medicines click here.

Shares of Blueprint Medicines closed at $96.33 yesterday.

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