Blueprint Medicines Earns Higher Price Targets Post FDA Approval: Analysts Optimistic on Ayvakit's Future
Portfolio Pulse from Vandana Singh
Blueprint Medicines Corporation (NASDAQ:BPMC) received FDA approval for Ayvakit, the first and only treatment for indolent systemic mastocytosis. Analysts from Needham, HC Wainwright, Wedbush, and Barclays have raised their price targets for BPMC, with optimism about Ayvakit's future sales and growth potential.
May 23, 2023 | 7:06 pm
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Blueprint Medicines Corporation's FDA approval for Ayvakit has led to higher price targets from analysts, indicating optimism about the drug's future sales and growth potential.
The FDA approval of Ayvakit is a significant milestone for Blueprint Medicines Corporation, as it is the first and only treatment for indolent systemic mastocytosis. This approval has led to increased optimism from analysts, who have raised their price targets for BPMC. The management's confidence in reaching >$1.5 billion in peak sales for Ayvakit and the potential for topline beats in the upcoming quarters contribute to the positive short-term impact on BPMC's stock price.
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