Blueprint Medicines (BPMC) PT Raised to $139 at Wedbush, Following Strategic Business Update

November 29, 2021 12:10 PM EST
Get Alerts BPMC Hot Sheet
Price: $78.00 --0%

Rating Summary:
    13 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 8 | New: 14
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Wedbush analyst David Nierengarten raised the price target on Blueprint Medicines (NASDAQ: BPMC) to $139.00 (from $136.00) while maintaining a Outperform rating.

Analyst comments: " We believe BPMC’s planned acquisition of Lengo Therapeutics (Private) is a strategically sound move to bolster its lung cancer pipeline and synergizes with the company’s other EGFR programs (BLU-701 and BLU-945) in development. Upon the closing of the merger, BPMC’s EGFR pipeline will address over 90% of all activating EGFR mutations. Lengo expects to file an IND for LNG-451 in December, lining up a potential initiation of a Ph 1 study following the close of the acquisition. BPMC continues to make progress with its other EGFR candidates, with its Ph 1/2 SYMPHONY trial for BLU-945 currently ongoing, and BLU-701 on track to enter the clinic in 4Q21."

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