Analyst Judah Frommer of Morgan Stanley maintained a Hold rating on Blueprint Medicines (BPMC – Research Report), retaining the price target of $100.00.
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Judah Frommer’s rating is based on several factors impacting Blueprint Medicines’ performance. The company faces potential headwinds in the first quarter of 2025, such as insurance reverification and foreign exchange challenges due to its expanding international presence. Additionally, the revenue dynamics are affected by the timing of orders, with one fewer ordering day in the quarter.
Another factor considered is the impact of changes in Medicare Part D under the IRA, which previously provided a tailwind to Ayvakit sales. The reset in January may introduce some variability in the commercial versus free drug mix. Frommer’s projections for Ayvakit revenue are slightly below the consensus, reflecting a cautious stance on the company’s near-term growth prospects. This combination of factors contributes to the Hold rating, indicating a balanced view of potential risks and opportunities for Blueprint Medicines.
In another report released on April 17, Barclays also maintained a Hold rating on the stock with a $105.00 price target.