Blueprint Medicines Corporation (BPMC) Downgraded at TD Cowen

Marc Frahm, an analyst at TD Cowen, downgraded Blueprint Medicines Corporation (NASDAQ:BPMC) from Buy to Hold.

Blueprint Medicines downgraded at TD Cowen

A doctor examining a patient’s samples in a modern hospital setting.

This modification comes after Sanofi declared its intention to buy Blueprint Medicines Corporation. The equity value of the transaction is $9.1 billion, with the possibility for a contingent value of $9.5 billion.

Frahm has set a price target of $130 for BPMC in response to this acquisition news. Since it fits with Sanofi’s larger strategic goals, this development represents a significant shift for Blueprint Medicines Corporation.

Nonetheless, in Q1 of 2025, the company has shown outstanding commercial momentum, as seen by AYVAKIT revenue growing 61% year over year due to systemic mastocytosis’s high acceptance. The business raised its AYVAKIT net product revenue forecast for the entire year to $700-$720 million, citing excellent market conditions and performance.

Over 95% of patients are satisfied with AYVAKIT, and since its approval for indolent systemic mastocytosis, the number of prescribers has tripled.

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Disclosure. None.