Wells Fargo upgrades Blueprint Medicines to Equal Weight with $41 price target

As previously reported, Wells Fargo analyst Derek Archila upgraded Blueprint Medicines to Equal Weight from Underweight with a $41 price target. The analyst notes that "this was a good short in 2022," but now thinks shares are pricing in smaller ASM/ISM market opportunity and competition. Archila expects shares to be range-bound until ava’s ISM approval in mid-2023.