|Bid||54.24 x 900|
|Ask||0.00 x 1100|
|Day's Range||65.56 - 66.96|
|52 Week Range||60.60 - 102.98|
|Beta (5Y Monthly)||1.63|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 06, 2020 - May 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||103.43|
Healthcare stocks have a reputation of keeping investors on their toes. The possibility of surging price action, or conversely, earth shattering drops is very real, but these movements can come and go in the blink of an eye.As a result, these stocks need constant monitoring ahead of key catalysts, as they can affect the price dramatically. Additionally, the price movement is usually dependent on one of the following: either a regulatory approval or trial data. Once either is announced to the public, these stocks either kiss the sky or moan painfully as they crash into the ground. Any healthcare investor must be vigilant, as the rise or drop can occur in minutes.With this in mind, we set out on our own search to find compelling plays in this volatile industry. Given the sheer size of the market, we used TipRanks’ Stock Screener tool to uncover 3 healthcare stocks with catalysts coming up in the near term. In fact, each has attracted enough support from Wall Street to earn a “Strong Buy” consensus rating. Let's take a closer look.Baudax Bio (BXRX)First up is Baudax Bio. The acute care-focused pharmaceutical name has been trading publicly only since November following the spin-off from its former parent company, Recro Pharma. All eyes should be on BXRX tonight, when a decision will be made by the FDA on the company’s New Drug Application (NDA) for intravenous (IV) meloxicam (Anjeso), its non-opioid alternative for the management of moderate to severe pain.Meloxicam has some baggage. The upcoming decision will be the third time the drug has been submitted for approval, following previous rejections in May 2018 and March last year. The first CRL (complete response letter) suggested the analgesic effect of the drug did not meet FDA expectations. Last year’s rejection focused on the onset and duration of the drug, explaining that the delayed onset fails to meet the prescriber expectations for intravenous (IV) drugs.Oppenheimer’s Leland Gershell believes third time’s a charm. The 5-star analyst said, "We met with BXRX last week to discuss Anjeso's anticipated FDA label and commercial plans, as well as the company's initial launch expectations. Management has its sights on a late February/early March approval following YE19 NDA re-submission. While we project just $3.1 million in 2020 net sales as formulary wins are secured, we forecast $32.4 million in 2021 and see Anjeso ramping to ~$200 million in 2025-26 via a modest sales organization.”To this end, Gershell reiterated an Outperform rating on BXRX. Gershell’s confidence in a positive ruling is conveyed in his new price target, which was raised from $8 to $12. The updated figure could provide investors with a 53% gain over the coming months. (To watch Gershell’s track record, click here)Baudax’s Strong Buy consensus rating breaks down into Buys only – 3, in fact. The average price target of $11.67 implies possible upside of 42%. (See Baudax's price targets and analyst ratings on TipRanks)Blueprint Medicines (BPMC)Let’s move on to a company expecting the second type of common healthcare catalyst: updates from clinical trials.Blueprint Medicines designs precision therapies that specifically target the underlying cause of genomically defined diseases.The company has a portfolio of drugs in various stages. It recently gained FDA approval for Ayvakit (avapritinib) as a treatment of unresectable or metastatic gastrointestinal stromal tumor (GIST), a rare form of cancer. This marks BPMC’s first FDA approval for any of its pipeline candidates. It is also the first time the FDA has approved a precision therapy for treating genomically defined patients with GIST, a population that until now had hardly any treatment options.The next catalyst, though, is due next month from the Phase 2 trial of avapritinib in patients with systemic mastocytosis (SM). In December 2019, the company reported initial data from part 1 of the PIONEER trial of avapritinib in patients with indolent SM at the American Society of Hematology Annual Meeting. The drug was well tolerated, and additionally, the results showed rapid and robust reductions in serum tryptase, a measure of mast cell burden, at all dose levels tested. Updated data from part 1 of the trial will be presented at the American Academy of Allergy, Asthma & Immunology’s (AAAAI) annual meeting on March 14.Following a meeting with Blueprint’s CMO, Raymond James’ Dane Leone believes the updates from Blueprint are positive on the whole for the systemic mastocytosis efforts.The 5-star analyst adds that the change in timing of filing for avapritinib in advanced SM, or ASM, doesn’t alter his view on the success of the drug, noting he did not model sales for that indication until 2021. Leone, therefore, reiterated a Buy rating on Blueprint. The analyst, though, did not provide a price target. (To watch Leone’s track record, click here)Overall, the stock’s $99.33 average price target implies an excellent upside of nearly 51%, while the analyst consensus of Strong Buy is based on 10 "buy" ratings vs. 3 "holds." Clearly, this is a stock that is starting to attract attention from Wall Street’s analysts. (See Blueprint's price targets and analyst ratings on TipRanks)Heron Therapeutics (HRTX)Completing our list is Heron Therapeutics, a biotech developing novel therapies for patients suffering from cancer or postoperative pain.The company already has two products approved by the FDA and out on the market. The focus now turns to the PDUFA date of June 26, as investors await an approval decision for HTX-011, an experimental post-operative pain medication.HTX-011 is a dual-acting, fixed-dose combination of the local anesthetic bupivacaine and a low dose of the nonsteroidal anti-inflammatory drug meloxicam. In a Phase 3 trial, the drug exhibited significantly reduced pain and opioid use compared to bupivacaine solution, currently the accepted local anesthetic for postoperative pain control. Should HTX-011 gain approval, it could capture a big chunk of a market that’s currently lacking in less addictive pain management solutions.Back in May, HTX-011 was rejected by the FDA on account of a lack of Chemistry, Manufacturing and Controls (CMC) data. In October, the FDA accepted Heron’s NDA resubmission. The company now expects to get the go ahead and is already preparing to launch HTX-011 shortly thereafter.Stifel’s Derek Archila expects HTX-011 to be approved and believes that ahead of the launch, investors should own a position in HRTX. The 4-star analyst reiterated a Buy rating on Heron, though he did not set a price target. (To watch Archila’s track record, click here)All in all, the Street sees good things ahead for HRTX. All 7 analysts that have published a call in the last three months see the stock as a Buy, making the Street consensus a Strong Buy. Should the average price target of $37.83 be met, a twelve-month gain of 75% could be in the cards. (See Heron's stock-price forecast and analyst ratings on TipRanks)
Blueprint Medicines Corporation (NASDAQ:BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced its participation in fireside chats at the following upcoming investor conferences:
Less than one year after Ipsen SA made its largest-ever acquisition, the company has written down most of the deal’s value as a loss.
The FDA accepts Deciphera's (DCPH) NDA for ripretinib and grants a priority review to the same for the treatment of advanced gastrointestinal stromal tumors.
Blueprint Medicines (BPMC) delivered earnings and revenue surprises of 21.05% and 114.58%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
FDA extends review period for Blueprint Medicines' (BPMC) NDA seeking accelerated approval for avapritinib in fourth-line gastrointestinal stromal tumors by three months.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week highs on Feb. 6) Acceleron Pharma Inc (NASDAQ: XLRN ) Alector Inc (NASDAQ: ...
Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced that the U.S. Food and Drug Administration (FDA) has extended the Prescription Drug User Fee Act (PDUFA) date for its New Drug Application (NDA) seeking accelerated approval of avapritinib for the treatment of adults with fourth-line gastrointestinal stromal tumor (GIST). The FDA extended the PDUFA action date by three months from February 14, 2020 to May 14, 2020.
Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced the pricing of an underwritten public offering of 4,710,144 shares of its common stock at a public offering price of $69.00 per share, before underwriting discounts and commissions. In addition, Blueprint Medicines has granted the underwriters a 30-day option to purchase up to an additional 706,521 shares of its common stock at the public offering price, less underwriting discounts and commissions. All shares of common stock were offered by Blueprint Medicines.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week highs on Jan. 21) Abbott Laboratories (NYSE: ABT ) Apellis Pharmaceuticals ...
Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced that it has commenced an underwritten public offering of $325,000,000 in shares of its common stock. In addition, Blueprint Medicines expects to grant the underwriters a 30-day option to purchase up to an additional $48,750,000 in shares of its common stock in connection with the public offering. All shares of common stock will be offered by Blueprint Medicines.
Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and...
Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced corporate goals for 2020, which provide a path to achieve the company's "2020 Blueprint" strategy for launching its global commercial business.
Alexis Borisy’s start-up plans to make fast followers—unique medications, protected by their own patents, that copy a drug or class of drugs
Hedge funds are known to underperform the bull markets but that's not because they are bad at investing. Truth be told, most hedge fund managers and other smaller players within this industry are very smart and skilled investors. Of course, they may also make wrong bets in some instances, but no one knows what the […]
Blueprint Medicines (BPMC) gets its maiden FDA approval for its lead candidate Ayvakit to treat adult patients with PDGFRA Exon 18 mutant gastrointestinal stromal tumor (GIST).
Shares of Blueprint Medicines Corp. gained 0.9% in premarket trading on Friday after the Food and Drug Administration on Thursday approved Ayvakit, the company's precision therapy treating a mutation in patients with gastrointestinal stromal tumors. The drug was approved by the regulator a month earlier than expected. A Blueprint spokesperson said the monthly wholesale acquisition cost for the rare-disease treatment is $32,000. Analysts had mixed responses to the price. "Drug pricing was in-line with our expectations," Raymond James' Dane Leone wrote in a research note, while SVB Leerink's Andrew Berens said it's more than two times higher what he had anticipated. Wedbush analysts predict $1.5 million in sales for 2020 and total sales of $400 million in 2025. The company also said that the drug will be available within a week to patients. Blueprint's stock has gained 25% over the last 52 weeks. The S&P 500 is up about 26%.
Cambridge biotech Blueprint Medicines Corp. has graduated from a clinical-stage startup to a commercial company.
Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced that the U.S. Food and Drug Administration (FDA) has approved AYVAKIT™ (avapritinib) for the treatment of adults with unresectable or metastatic gastrointestinal stromal tumor (GIST) harboring a platelet-derived growth factor receptor alpha (PDGFRA) exon 18 mutation, including PDGFRA D842V mutations. AYVAKIT is the first precision therapy approved to treat a genomically defined population of patients with GIST.
Blueprint Medicines (BPMC) posts top-line data from phase I/II study on pralsetinib to treat previously treated patients with RET-fusion NSCLC. Also, it initiates the rolling NDA submission to FDA.
Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced independent centrally reviewed top-line data for pralsetinib in patients with RET fusion-positive non-small cell lung cancer (NSCLC). The data from the ongoing Phase 1/2 ARROW clinical trial of pralsetinib showed a 61 percent objective response rate (ORR) and prolonged durability, with a median duration of response (DOR) not reached, in patients with RET fusion-positive NSCLC previously treated with platinum-based chemotherapy. Designed by Blueprint Medicines, pralsetinib is a potent and highly selective once-daily oral inhibitor of RET fusions and mutations, including predicted resistance mutations.