Wolfe Research starts Blueprint Medicines at Outperform on bullish Ayvakit view

As previously reported, Wolfe Research initiated coverage of Blueprint Medicines (BPMC) with an Outperform rating and $132 price target. The company’s performance will be driven by Ayvakit earnings, where the firm is bullish and estimates ceiling prevalence at 37K patience instead of 25K diagnosed as estimated by Blueprint, along with Cogent’s (COGT) bezuclastinib topline readout in July and how it compares to Ayvakit and elenestinib, the analyst tells investors in a research note.