Blueprint Medicines (BPMC) PT Raised to $135 at Needham

Needham analyst Ami Fadia raised the price target on Blueprint Medicines (NASDAQ: BPMC) to $135.00 (from $133.00) while maintaining a Buy rating.

The analyst commented: "We are slightly raising our Ayvakit sales based on the strong sales reported in 3Q and increased FY guidance, which also raised our PT to $135. We remain confident that Blueprint can continue to deliver strong growth in SM in the near/medium term based on continued strong metrics across the board. Additionally, we believe the BLU808 SAD/MAD data early next year will be an important catalyst as it could open the doors for expansion into several additional mast cell mediated diseases for the company. Next, we look for the company's investor seminar on Nov 14th where the company will discuss its strategic development plans for its mast cell therapy franchise, and initiation of the Elenestinib registration enabling study by YE24."

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