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CAMBRIDGE, MA—Jeffrey W. Albers, a director at Blueprint Medicines Corp (NASDAQ:BPMC), recently executed a significant stock transaction, according to a recent SEC filing. On January 13, Albers sold 5,000 shares of common stock at an average price of $102.28 per share, amounting to a total sale value of $511,400. The shares were sold in multiple transactions, with prices ranging from $102.00 to $102.44 per share. According to InvestingPro data, BPMC has shown strong momentum with a 15.7% return over the past week, while analysts maintain a bullish outlook with price targets ranging from $81 to $167.
In a related transaction, Albers exercised stock options to acquire 5,000 shares of common stock at a price of $36.05 per share, a move that was part of a pre-established trading plan under Rule 10b5-1. Following these transactions, Albers holds 157,557 shares directly.
These transactions were executed under a trading plan adopted on May 8, 2024, as part of a strategy to manage his holdings in Blueprint Medicines.
In other recent news, Blueprint Medicines Corporation has reported significant developments. The company's revenue growth was primarily driven by robust sales of its therapeutic product, Ayvakit, used for treating systemic mastocytosis. The product generated $128.2 million in net product revenue, marking a 137% year-over-year increase. As a result, the company revised its revenue expectations for the year to between $475 million and $480 million.
In addition, Blueprint Medicines has outlined its growth strategy for 2025, highlighting the potential of its systemic mastocytosis franchise and positive trial data for its new treatment, BLU-808. Stifel analysts reiterated their Buy rating for Blueprint Medicines, expressing confidence in the company's development strategy, particularly for its BLU-808 drug.
JPMorgan initiated coverage on Blueprint Medicines with an Overweight rating, highlighting the company's focus on immune mast cells modulation and its commercial product, Ayvakit. The firm believes that the current share price does not fully reflect the potential of Blueprint Medicines' franchise. Lastly, Needham, a well-known investment firm, increased its price target for Blueprint Medicines shares to $135 from the previous target of $133, while maintaining a Buy rating on the stock.
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