Blueprint Medicines price target raised to $114 from $89 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Blueprint Medicines to $114 from $89 and keeps a Buy rating on the shares. The firm cites the company’s J.P. Morgan Healthcare Conference update and its discussion with the management, which reiterated confidence on the Ayvakit launch in indolent systemic mastocytosis and emphasized progress on the prescriber breadth and base, the analyst tells investors in a research note. The management has also alluded to a path to profitability without the need for a capital raise via continued Ayvakit growth, focused capital allocation and decline in cash burn, the firm added.