Unpacking Blueprint Medicines' Ayvakit's Bright Future: Insights From Latest Physician Survey On Sales Predictions
Portfolio Pulse from Vandana Singh
Needham has increased the price target for Blueprint Medicines Corp (BPMC) from $65 to $66 with a Buy rating, based on a survey of physicians who expect the number of Ayvakit-treated ISM patients to grow 70% by 2024. Needham analysts also expect new physicians to start prescribing Ayvakit as Blueprint builds awareness. Regarding Cogent Biosciences Inc's (COGT) bezuclastinib, physicians expect it to gain a peak market share of 45% if it demonstrates comparable efficacy to Ayvakit but 53% if its efficacy proves superior.
August 21, 2023 | 7:23 pm
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Needham has increased the price target for Blueprint Medicines Corp (BPMC) from $65 to $66 with a Buy rating. The number of Ayvakit-treated ISM patients is expected to grow 70% by 2024.
The increase in price target by Needham indicates a positive outlook for BPMC. The expected growth in Ayvakit-treated ISM patients suggests potential increase in revenues for BPMC, which could positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Physicians expect Cogent Biosciences Inc's (COGT) bezuclastinib to gain a peak market share of 45% if it demonstrates comparable efficacy to Ayvakit but 53% if its efficacy proves superior.
The potential market share gain for COGT's bezuclastinib indicates a positive outlook for the company. If bezuclastinib proves to be more effective than Ayvakit, it could lead to increased revenues for COGT, positively impacting the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80