Blueprint Medicines (BPMC) PT Raised to $115 at Wedbush
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Wedbush analyst David Nierengarten raised the price target on Blueprint Medicines (NASDAQ: BPMC) to $115.00 (from $104.00) while maintaining a Outperform rating.
Analyst says: "Our PT is based on an 8x multiple of estimated 2023-2026 ww sales of avapritinib in SM and GIST (discounted back annually by rates of 15-25%), BLU-554 in HCC (discounted back 30-35%), and BLU-667 in RET fusion-altered tumors (discounted back 20%). Changes to PT are reflective in multiple changes made to our model, beginning with the discount rate reduction to the ava program in PDGFRA exon 18 mutant GIST and 4L GIST (15% from 20%) given progress of the recent NDA filing."
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