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Blueprint Medicines upgraded to Neutral from Sell at Citi

Citi upgraded Blueprint Medicines (BPMC) to Neutral from Sell with a price target of $129, up from $83, following the announcement that Blueprint will be acquired by Sanofi (SNY) in a cash transaction of $129 per share plus contingent value rights considerations for pipeline asset BLU-80. At this time, Citi does not expect regulatory hurdles or competitive bids to impact the transaction.

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