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CAMBRIDGE, MA— Blueprint Medicines Corp (NASDAQ:BPMC), a $5.6 billion market cap biotech company, recently disclosed that its Chief Financial Officer, Michael Landsittel, sold a portion of the company’s common stock. According to the SEC filing, Landsittel sold 5,284 shares at a price of $88.80 each, resulting in a total transaction value of approximately $469,219. The transaction comes as the stock has declined over 8% in the past week, according to InvestingPro data.
This transaction, dated March 5, 2025, was carried out to cover tax withholding obligations related to the vesting of restricted stock units. The sale was executed automatically as part of a "sell to cover" arrangement, rather than a discretionary trade by Landsittel. The company maintains a FAIR financial health score according to InvestingPro analysis, with liquid assets exceeding short-term obligations.
Following the transaction, Landsittel retains ownership of 72,924 shares in Blueprint Medicines. The company’s stock is traded on the NASDAQ under the ticker symbol BPMC. Analysts maintain a bullish outlook on the stock, with target prices ranging from $83 to $169. For comprehensive analysis and additional insights, including 8 more key ProTips, visit InvestingPro.
In other recent news, Blueprint Medicines disclosed its fourth-quarter financials for 2024, which met consensus expectations and provided revenue guidance for Ayvakit, estimating between $680 million and $710 million for the fiscal year 2025. Analysts from Scotiabank (TSX:BNS) initiated coverage on Blueprint Medicines with a Sector Outperform rating and a price target of $150, emphasizing the potential of the company’s systemic mastocytosis franchise and the promising prospects of their drug, elenestinib. Meanwhile, Stifel maintained its Buy rating and $155 price target, noting that concerns about Ayvakit’s safety are unfounded according to their analysis, which included discussions with the Mayo Clinic allergist group.
JMP Securities kept its Market Outperform rating and a steady price target of $126, highlighting increased physician confidence in Ayvakit following extended data from the PIONEER trial. Citizens JMP also reaffirmed a Market Outperform rating with a $125 price target, expressing optimism about Ayvakit’s sales reaching approximately $700 million in 2025. The analysts from JMP Securities and Citizens JMP both underscored the importance of Ayvakit’s safety profile in gaining physician trust.
Blueprint Medicines’ financial outlook, including a robust cash position of $909.3 million bolstered by an $80 million inflow from an acquisition by GlaxoSmithKline (NYSE:GSK), further supports its growth prospects. The company aims for over $4 billion in global peak revenue for systemic mastocytosis, highlighting its disciplined clinical development approach. These developments collectively reflect a positive sentiment among analysts about Blueprint Medicines’ future performance in the market.
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