Apr. 28 at 11:59 AM
Needham⬇️the PT on
$BPMC to
$130 from
$133 and reiterated at a Buy rating, said "We publish our 1Q25 earnings preview for
$BPMC, ahead of its earnings report on May 1st."
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Needham added, "Our 1Q25 sales estimate of
$154.6M is slightly above consensus of
$153M, and our EPS of -
$0.56 is below consensus of -
$0.48.
We remain constructive on
$BPMC as we believe Ayvakit can continue to deliver strong performance relative to against management's guidance of
$680-710M driven by tailwinds from growing market, diagnosis and treatment rates.
On the earnings call, we look for management comments on the potential impact to
$BPMC from the US Tariff policy, Ayvakit market dynamics and any potential visibility into the clinical program for BLU-808 and the remaining pipeline.
We reiterate our Buy rating, although we lower our PT to
$130 due to an increase in the discount rate used in our SOTP DCF by 50 bps to reflect the broader market headwinds."
