Latest news with #BlueprintMedicines
Reuters
2 days ago
- Business
- Reuters
Sanofi to buy US biopharma group Blueprint for up to $9.5 billion
PARIS, June 2 (Reuters) - France's Sanofi has agreed to buy U.S.-based Blueprint Medicines Corporation for up to $9.5 billion to boost its position in rare immunology diseases, in the biggest deal struck by a European healthcare company so far this year, according to LSEG data. Blueprint (BPMC.O), opens new tab is a specialist in treatments for systemic mastocytosis, a rare blood disorder. Sign up here. The two companies said on Monday that Sanofi ( opens new tab would initially pay $129.00 per share in cash, or around $9.1 billion. Blueprint shares jumped 27% to $128.74 in premarket trade. Sanofi stock was down about 1%. Sanofi has ramped up research and development spending in recent years, prompting the company to abandon its long-term profit margin targets two years ago, as it seeks to build on the success of its blockbuster drug Dupixent for eczema and other conditions. However, it suffered a setback last week after an experimental drug for patients with a lung condition commonly called "smoker's lung" failed a late-stage trial. The Blueprint acquisition "represents a strategic step forward in our rare and immunology portfolios. It enhances our pipeline and accelerates our transformation into the world's leading immunology company," said Sanofi CEO Paul Hudson. The deal would add to Sanofi's portfolio the rare immunology disease drug Ayvakit, also known as Ayvakyt, approved in the U.S. and the EU, and a promising advanced and early-stage immunology pipeline. Ayvakit is the only approved medicine for advanced and indolent systemic mastocytosis, a rare blood disorder that occurs when the body makes abnormal mast cells - a type of white blood cell. It triggers a continuous allergic response. The acquisition would also bring elenestinib, a next-generation medicine for systemic mastocytosis, as well as BLU-808, a highly selective and potent oral wild-type KIT inhibitor that has the potential to treat a broad range of diseases in immunology. The deal makes "strategic and financial sense", said JP Morgan analysts in a note, noting that Blueprint expects Ayvakit to reach annual sales of around $2 billion by fiscal year 2030. "We see the transaction as a good fit for Sanofi at a sensible valuation, which investors should see as a positive with time," they added. It is the latest in a series of deals by Sanofi. Last month, it announced the $470 million purchase of Vigil Neuroscience (VIGL.O), opens new tab and in January 2024 it struck a $2.2 billion deal for U.S biotech firm Inhibrx. Hudson said the deal complemented Sanofi's recent acquisitions of other early-stage medicines and added that it still retained a sizable capacity for further deals. The company has said it plans to invest at least $20 billion in the United States through 2030 to boost manufacturing and research, joining other drugmakers in responding to President Donald Trump's drive to boost local manufacturing. Besides $129.00 per share in cash, Blueprint shareholders would also receive one non-tradeable contingent value right (CVR) per share, which would entitle the holder to receive two potential milestone payments of $2 and $4 per CVR for the achievement, respectively, of future development and regulatory milestones for BLU-808. The total equity value of the transaction, including potential CVR payments, is $9.5 billion on a fully diluted basis. It is expected to close in the third quarter, pending regulatory and shareholder approvals.
Yahoo
2 days ago
- Business
- Yahoo
Reddit initiated, Pinterest upgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Upgrades: JPMorgan upgraded Pinterest (PINS) to Overweight from Neutral with a price target of $40, up from $35. The firm believes the company has made solid progress across its 2023 investor day priorities to grow users and deepen engagement, improve monetization, and drive profitable growth. Evercore ISI upgraded Block (XYZ) to Outperform from In Line with a price target of $75, up from $58, implying 21% upside. The firm says Cash App lending will not be as aggressive as it thought coming out of the company's Q1 earnings. Wells Fargo upgraded Cardinal Health (CAH) to Overweight from Equal Weight with a price target of $179, up from $136. The firm sees the improved valuation as justified by strong industry backdrop, improving mix, and execution. Redburn Atlantic upgraded Advance Auto Parts (AAP) to Neutral from Sell with a price target of $45, up from $28. Although Advance is yet to make meaningful progress with its turnaround and concerns regarding its investment plan and balance sheet remain, the company will benefit from the favorable second half of 2025 backdrop, the firm tells investors in a research note. B. Riley upgraded Kymera Therapeutics (KYMR) to Buy from Neutral with a price target of $60, up from $38. The company released the first-in-human data for KT-621, its oral STAT6 degrader, and it is "fair to say the program passed a key test," not just in terms of target engagement, but, importantly, safety, the firm tells investors in a research note. Top Downgrades: JPMorgan downgraded Bumble (BMBL) to Underweight from Neutral with an unchanged price target of $5. The shares have traded up 50% since President Trump's "Liberation Day" and are now 10% above the price target, the firm notes, adding that it struggles to justify raising the price target given its expectation for Bumble's revenue and payer declines to accelerate, regardless of the macro environment. Citizens JMP downgraded Blueprint Medicines (BPMC) to Market Perform from Outperform without a price target given the proposed acquisition by Sanofi (SNY). Shareholders should vote in favor of this acquisition as the offer is fair and competing bids are unlikely, the firm tells investors in a research note. Stephens also downgraded Blueprint Medicines to Equal Weight from Overweight with a price target of $135, down from $150. Cantor Fitzgerald downgraded Sprout Social (SPT) to Neutral from Overweight with a price target of $24, down from $38, following a transfer in analyst coverage. The company is already building broad capabilities to enable greater integration with networks and commerce capabilities, but to date, the Social Networks are "still in a holding pattern, trying to figure out their own strategies for how much to open platforms up to third-party platforms," the firm tells investors. BMO Capital downgraded MAC Copper (MTAL) to Market Perform from Outperform with a price target of $12.25, up from $11, after the company entered into a binding agreement with Harmony Gold Mining Company (HMY) and Harmony Gold Australia under which it is proposed that Harmony Australia will acquire 100% of the issued share capital in MAC. Top Initiations: RBC Capital initiated coverage of Reddit (RDDT) with a Sector Perform rating and $125 price target. The consolidation of internet user engagement towards a relatively few number of large language model-based generative artificial intelligence tools is in the very early stages, where Reddit "may have mixed exposure," the firm tells investors in a research note. Cantor Fitzgerald initiated coverage of Salesforce (CRM) with an Overweight rating and $325 price target. Despite slowing growth, Salesforce is one of the highest-quality businesses within Cantor's coverage, the firm tells investors in a research note. Cantor Fitzgerald initiated coverage of HubSpot (HUBS) with an Overweight rating and $775 price target. HubSpot is one of the few Customer Relationship Management industry players that has successfully moved into adjacent sub-categories, which is a testament to the company's best-of-breed management, the firm tells investors in a research note. Cantor Fitzgerald initiated coverage of Tyler Technologies (TYL) with a Neutral rating and $600 price target. Tyler is well-positioned in the public sector with a long runway of cloud migrations and general modernization still to come, says the firm, which expects Tyler to continue to gain market share, driving annual top line growth of at least 10% over the next several years. Morgan Stanley initiated coverage of EVgo (EVGO) with an Equal Weight rating and $4 price target. The company is a "pure play" EV charging name positioned well in a growing EV market, but policy risk, competitive pressures, and valuation keep Morgan Stanley on the sidelines. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
3 days ago
- Business
- Business Insider
Blueprint Medicines downgraded to Hold from Buy at TD Cowen
TD Cowen analyst Marc Frahm downgraded Blueprint Medicines (BPMC) to Hold from Buy with a $130 price target after Sanofi (SNY) announced its intention to acquire Blueprint for $9.1B in equity value and up to $9.5B including a contingent value right. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Insider
3 days ago
- Business
- Business Insider
Blueprint Medicines (BPMC) was downgraded to a Hold Rating at TD Cowen
TD Cowen analyst Marc Frahm downgraded Blueprint Medicines (BPMC – Research Report) to a Hold today and set a price target of $130.00. Confident Investing Starts Here: Frahm covers the Healthcare sector, focusing on stocks such as Incyte, Inozyme Pharma, and Xilio Therapeutics. According to TipRanks, Frahm has an average return of 3.7% and a 39.53% success rate on recommended stocks. In addition to TD Cowen, Blueprint Medicines also received a Hold from J.P. Morgan's Brian Cheng in a report issued today. However, on the same day, Citi reiterated a Sell rating on Blueprint Medicines (NASDAQ: BPMC). The company has a one-year high of $121.90 and a one-year low of $73.04. Currently, Blueprint Medicines has an average volume of 988.3K. Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BPMC in relation to earlier this year. Most recently, in March 2025, Jeffrey Albers, a Director at BPMC sold 5,766.00 shares for a total of $512,020.80.
Yahoo
3 days ago
- Business
- Yahoo
Blueprint Medicines Stock Soars as Biotech Agrees to Over $9B Sanofi Takeover
French drugmaker Sanofi said Monday it has agreed to acquire Blueprint Medicines for up to $9.5 billion, sending shares of the Cambridge, Mass.-based biopharma firm soaring in intraday trading. The deal expands Sanofi's immunology pipeline and access to drugs to treat systemic mastocytosis (SM), a rare immunological disease. Sanofi CEO Paul Hudson said that the French company "still retains a sizeable capacity for further acquisitions."French drugmaker Sanofi (SNY) said Monday it has agreed to acquire Blueprint Medicines (BPMC) for up to $9.5 billion, sending shares of the Cambridge, Mass.-based biopharma firm soaring in in intraday trading. The deal expands Sanofi's immunology pipeline and access to drugs to treat systemic mastocytosis (SM), a rare immunological disease, and "other KIT-driven diseases," the company said. Sanofi also noted that the acquisition would give it access to rare immunology disease medicine avapritinib, marketed as Ayvakit or Ayvakyt, which has been approved in the U.S. and the European Union (EU). "The proposed acquisition of Blueprint Medicines represents a strategic step forward in our rare and immunology portfolios," Sanofi CEO Paul Hudson said, adding that the French company "still retains a sizeable capacity for further acquisitions." Under the terms of the Blueprint transaction, Sanofi will pay $129.00 per share in cash or $9.1 billion as well as potential milestone payments. The deal is the latest by the French pharma giant, which last month agreed to buy Alzheimer's disease drug developer Vigil Neuroscience (VIGL). Sanofi shares were down slightly Monday but are up 2% year-to-date through Friday. Blueprint shares are gaining 26% in intraday trading and have risen 16% entering Monday. UPDATE—June 2, 2025: This article has been updated to include refreshed share prices. Read the original article on Investopedia
