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Reasons to Add Blueprint (BPMC) Stock to Your Portfolio Now
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Blueprint Medicines Corporation (BPMC - Free Report) is focused on developing transformational precision medicines to address genomically defined cancers and rare diseases.
The company’s lead drug, Ayvakit/Ayvakyt (avapritinib), a kinase inhibitor, is approved for three rare cancer indications, both in the United States and the EU. The drug is approved for treating adults with PDGFRA Exon 18 mutant gastrointestinal stromal tumors, adults with advanced systemic mastocytosis and adults with indolent systemic mastocytosis (SM).
Ayvakit is marketed under the trade name of Ayvakyt in Europe. Blueprint’s top line currently comprises revenues from its sole marketed drug, Ayvakit, and collaboration revenues.
Here are some reasons why investors should consider betting on Blueprint stock.
Good Rank and Rising Estimates: Blueprint currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for 2024 has narrowed from a loss of $5.74 per share to a loss of $5.53 per share over the past 60 days. The stock has surged 75.1% in the past year against the industry’s decline of 12.9%.
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Ayvakit Sales Drive Growth: Sales of Ayvakit/Ayvakyt have improved steadily since its launch. Ayvakit’s net sales in the first nine months of 2023 were $133.2 million, reflecting an increase of 64.6% year over year.
More recently, Ayvakit’s indication was further expanded by the FDA and the European Commission to include the treatment of indolent SM in adults.
The label expansion of the drug in the United States and EU is expected to further contribute to the increasing sales growth of Ayvakit/Ayvakyt in 2024. The company is prioritizing the ongoing launch of Ayvakit for the SM indication in the United States and Europe.
Meanwhile, Blueprint is set to regain global commercialization and development rights to Gavreto due to Roche’s decision to discontinue the collaboration agreement related to the product. The company has identified a potential partner for marketing Gavreto in the United States. The winding down of the collaboration agreement with Roche is expected to reduce year-over-year operating expenses for Blueprint in 2024.
Portfolio Prioritization to Save Costs: The company is looking to develop BLU-808, an oral wild-type KIT inhibitor, targeting allergic-inflammatory diseases, including chronic urticaria and other diseases where mast cells are core to biology. Blueprint remains focused on expanding its mast cell disease portfolio with the development of BLU-808. An investigational new drug application for BLU-808 is expected to be filed in the second quarter of 2024.
The company is developing BLU-222, a highly selective CDK2 inhibitor, in combination studies for treating patients with HR+/HER2- breast cancer. Blueprint is also looking to develop BLU-222 in other CDK2-vulnerable cancers.
As a result of continued strategic portfolio prioritization, Blueprint expects a year-over-year decline in operating expenses in 2024.
Encouraging Collaboration Deals: Blueprint has collaborations and license agreements with various companies like CStone, Zai Lab and Clementia for the development/commercialization of its marketed drugs and pipeline candidates.
The company is eligible to receive milestone payments that materialize from the above collaboration deals in the future.
Also, such collaboration pacts add to Blueprint’s revenue stream and help strengthen its financial position.
In the past 60 days, estimates for Regeneron’s 2024 earnings per share have improved from $41.57 to $43.96. In the past year, shares of REGN have rallied 28.2%.
Earnings of Regeneron beat estimates in each of the trailing last four quarters. REGN delivered a four-quarter average earnings surprise of 12.34%.
In the past 60 days, estimates for CytomX Therapeutics’ 2024 loss per share have narrowed from 22 cents to 6 cents. In the past year, shares of CTMX have plunged 35.2%.
CytomX Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. CTMX delivered a four-quarter earnings surprise of 45.44%, on average.
In the past 60 days, estimates for Puma Biotechnology’s 2024 earnings per share have improved from 62 cents to 69 cents. In the past year, shares of PBYI have risen 7.3%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
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Reasons to Add Blueprint (BPMC) Stock to Your Portfolio Now
Blueprint Medicines Corporation (BPMC - Free Report) is focused on developing transformational precision medicines to address genomically defined cancers and rare diseases.
The company’s lead drug, Ayvakit/Ayvakyt (avapritinib), a kinase inhibitor, is approved for three rare cancer indications, both in the United States and the EU. The drug is approved for treating adults with PDGFRA Exon 18 mutant gastrointestinal stromal tumors, adults with advanced systemic mastocytosis and adults with indolent systemic mastocytosis (SM).
Ayvakit is marketed under the trade name of Ayvakyt in Europe. Blueprint’s top line currently comprises revenues from its sole marketed drug, Ayvakit, and collaboration revenues.
Here are some reasons why investors should consider betting on Blueprint stock.
Good Rank and Rising Estimates: Blueprint currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for 2024 has narrowed from a loss of $5.74 per share to a loss of $5.53 per share over the past 60 days. The stock has surged 75.1% in the past year against the industry’s decline of 12.9%.
Ayvakit Sales Drive Growth: Sales of Ayvakit/Ayvakyt have improved steadily since its launch. Ayvakit’s net sales in the first nine months of 2023 were $133.2 million, reflecting an increase of 64.6% year over year.
More recently, Ayvakit’s indication was further expanded by the FDA and the European Commission to include the treatment of indolent SM in adults.
The label expansion of the drug in the United States and EU is expected to further contribute to the increasing sales growth of Ayvakit/Ayvakyt in 2024. The company is prioritizing the ongoing launch of Ayvakit for the SM indication in the United States and Europe.
Meanwhile, Blueprint is set to regain global commercialization and development rights to Gavreto due to Roche’s decision to discontinue the collaboration agreement related to the product. The company has identified a potential partner for marketing Gavreto in the United States. The winding down of the collaboration agreement with Roche is expected to reduce year-over-year operating expenses for Blueprint in 2024.
Portfolio Prioritization to Save Costs: The company is looking to develop BLU-808, an oral wild-type KIT inhibitor, targeting allergic-inflammatory diseases, including chronic urticaria and other diseases where mast cells are core to biology. Blueprint remains focused on expanding its mast cell disease portfolio with the development of BLU-808. An investigational new drug application for BLU-808 is expected to be filed in the second quarter of 2024.
The company is developing BLU-222, a highly selective CDK2 inhibitor, in combination studies for treating patients with HR+/HER2- breast cancer. Blueprint is also looking to develop BLU-222 in other CDK2-vulnerable cancers.
As a result of continued strategic portfolio prioritization, Blueprint expects a year-over-year decline in operating expenses in 2024.
Encouraging Collaboration Deals: Blueprint has collaborations and license agreements with various companies like CStone, Zai Lab and Clementia for the development/commercialization of its marketed drugs and pipeline candidates.
The company is eligible to receive milestone payments that materialize from the above collaboration deals in the future.
Also, such collaboration pacts add to Blueprint’s revenue stream and help strengthen its financial position.
Other Stocks to Consider
Some other top-ranked stocks in the healthcare sector are Regeneron Pharmaceuticals, Inc. (REGN - Free Report) , CytomX Therapeutics, Inc. (CTMX - Free Report) and Puma Biotechnology, Inc. (PBYI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Regeneron’s 2024 earnings per share have improved from $41.57 to $43.96. In the past year, shares of REGN have rallied 28.2%.
Earnings of Regeneron beat estimates in each of the trailing last four quarters. REGN delivered a four-quarter average earnings surprise of 12.34%.
In the past 60 days, estimates for CytomX Therapeutics’ 2024 loss per share have narrowed from 22 cents to 6 cents. In the past year, shares of CTMX have plunged 35.2%.
CytomX Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. CTMX delivered a four-quarter earnings surprise of 45.44%, on average.
In the past 60 days, estimates for Puma Biotechnology’s 2024 earnings per share have improved from 62 cents to 69 cents. In the past year, shares of PBYI have risen 7.3%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.