Blueprint Medicines Corporation, a precision therapy company, develops medicines for people with cancer and hematologic disorders, and multiple programs for genomically defined cancers, systemic mastocytosis, and cancer immunotherapy in the United States and Europe. The company is developing avapritinib for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of non-advanced SM and other mast cell disorders; and fisogatinib, an orally available and potent inhibitor, which is in Phase 1b/2 trials for the treatment of advanced hepatocellular carcinoma. It is also developing pralsetinib for the treatment of RET-altered non-small cell lung cancer, altered solid tumors, medullary thyroid carcinoma, and other solid tumors; BLU-701 and BLU-945, a selective and potent investigational inhibitors of double-mutant EGFR harboring, which are in preclinical stage for patient with EGFR-driven NSCLC. In addition, the company is developing BLU-782, an oral and investigational activin-like kinase 2 inhibitor, which is in Phase I clinical trials for the treatment of fibrodysplasia ossificans progressive. It has collaboration and license agreements with Clementia Pharmaceuticals, Inc.; CStone Pharmaceuticals; Genentech, Inc.; and F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc. Blueprint Medicines Corporation has a strategic research collaboration with The University of Texas MD Anderson Cancer Center for accelerating development of BLU-222, an investigational precision therapy that targets cyclin-dependent kinase 2. The company was formerly known as Hoyle Pharmaceuticals, Inc. and changed its name to Blueprint Medicines Corporation in June 2011. Blueprint Medicines Corporation was incorporated in 2008 and is headquartered in Cambridge, Massachusetts.
IPO Year: 2015
Exchange: NASDAQ
Website: blueprintmedicines.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
11/14/2024 | $126.00 | Overweight | JP Morgan |
10/24/2024 | $88.00 | Neutral | UBS |
5/14/2024 | $140.00 | Overweight | Stephens |
5/6/2024 | $50.00 → $97.00 | Underperform → Market Perform | Leerink Partners |
10/27/2023 | $85.00 | Perform → Outperform | Oppenheimer |
8/21/2023 | $65.00 → $66.00 | Buy | Needham |
7/31/2023 | $55.00 → $82.00 | Equal Weight → Overweight | Wells Fargo |
6/5/2023 | $48.00 → $43.00 | Market Perform → Underperform | SVB Securities |
1/3/2023 | $41.00 | Underweight → Equal Weight | Wells Fargo |
12/14/2022 | $60.00 | Buy | Needham |
-- Achieved $128.2 million in AYVAKIT net product revenues in the third quarter 2024 -- -- Raising AYVAKIT net product revenue guidance to $475 million to $480 million for 2024 -- -- On track to initiate the registration-enabling HARBOR Part 2 study of elenestinib in ISM by year end -- CAMBRIDGE, Mass., Oct. 30, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today reported financial results, provided a business update for the third quarter ended Sept 30, 2024, and provided updated financial guidance. "With another strong quarter of AYVAKIT revenue perform
CAMBRIDGE, Mass., Oct. 16, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Wednesday, October 30, 2024, to report its third quarter 2024 financial results and provide a corporate update. To access the live conference call, please dial 833-470-1428 (domestic) or 404-975-4839 (international) and refer to conference ID 387547. A webcast of the call will also be available under "Events and Presentations" in the Investors & Media section of the Blueprint Medicines website at h
CAMBRIDGE, Mass., Sept. 10, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced its participation in the following upcoming virtual investor conferences: Stifel 2024 Immunology and Inflammation Virtual Summit on Tuesday, September 17, 2024, at 2:00 p.m. ET.TD Cowen's Chronic Urticaria Summit on Friday, September 20, 2024, at 11:00 a.m. ET.A live webcast of each presentation will be available by visiting the Investors & Media section of Blueprint Medicines' website at http://ir.blueprintmedicines.com. A replay of the webcasts will be archived on B
-- Achieved $114.1 million in AYVAKIT net product revenues in the second quarter 2024 -- -- Raising AYVAKIT net product revenue guidance to $435 million to $450 million for 2024 -- -- Initiated Phase 1 healthy volunteer trial of wild-type KIT inhibitor BLU-808 -- CAMBRIDGE, Mass., Aug. 1, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today reported financial results, provided a business update for the second quarter ended June 30, 2024, and provided updated financial guidance. "This quarter marks a milestone, as we celebrate one full year since the U.S. a
CAMBRIDGE, Mass., July 18, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Thursday, August 1, 2024, to report its second quarter 2024 financial results and provide a corporate update. To access the live conference call, please dial 833-470-1428 (domestic) or 404-975-4839 (international) and refer to conference ID 299779. A webcast of the call will also be available under "Events and Presentations" in the Investors & Media section of the Blueprint Medicines website at htt
-- Breadth of data across 7 presentations, including 4 oral, reflects continued leadership in advancing the understanding and treatment of systemic mastocytosis -- CAMBRIDGE, Mass., May 30, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced multiple upcoming datasets across two key conferences that reinforce the significant real-world burden of systemic mastocytosis (SM), and highlight the durable clinical outcomes of AYVAKIT®/AYVAKYT® (avapritinib) across the spectrum of the disease. The presentations, which build on over a decade of pioneering research with clinical experts and patient advocates, will be reported at the following meetings:
-- Updated Phase 1 dose escalation data show that BLU-222 in combination with ribociclib and fulvestrant was well-tolerated at clinically active dose levels with no dose-limiting toxicities -- -- Early signal of clinical activity includes compelling biomarker reductions correlated with BLU-222 exposure -- CAMBRIDGE, Mass., May 23, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced updated data from the ongoing Phase 1 dose escalation portion of the VELA clinical trial of BLU-222, an investigational, highly selective and potent CDK2 inhibitor, in combination with ribociclib and fulvestrant in patients with hormone-receptor-positive/human epidermal growth factor
CAMBRIDGE, Mass., May 6, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC), today announced that, effective May 1, 2024, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 6,400 shares of its common stock and an aggregate of 3,200 restricted stock units (RSUs) to two new employees under Blueprint Medicines' 2020 Inducement Plan. The 2020 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director
-- Achieved $92.5 million in AYVAKIT net product revenues in the first quarter 2024 -- -- Raising guidance to $390 million to $410 million in full year AYVAKIT net product revenues -- -- Strengthening presence in allergy and inflammation with the IND for wild-type KIT inhibitor BLU-808 on track for filing in Q2 -- CAMBRIDGE, Mass., May 2, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today reported financial results, provided a business update for the first quarter ended March 31, 2024, and provided updated financial guidance. "We delivered another very s
CAMBRIDGE, Mass., April 18, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Thursday, May 2, 2024, to report its first quarter 2024 financial results and provide a corporate update. To access the live conference call, please dial 833-470-1428 (domestic) or 404-975-4839 (international) and refer to conference ID 186292. A webcast of the call will also be available under "Events and Presentations" in the Investors & Media section of the Blueprint Medicines website at http:/
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JP Morgan initiated coverage of Blueprint Medicines with a rating of Overweight and set a new price target of $126.00
UBS initiated coverage of Blueprint Medicines with a rating of Neutral and set a new price target of $88.00
Stephens initiated coverage of Blueprint Medicines with a rating of Overweight and set a new price target of $140.00
Leerink Partners upgraded Blueprint Medicines from Underperform to Market Perform and set a new price target of $97.00 from $50.00 previously
Oppenheimer upgraded Blueprint Medicines from Perform to Outperform and set a new price target of $85.00
Needham reiterated coverage of Blueprint Medicines with a rating of Buy and set a new price target of $66.00 from $65.00 previously
Wells Fargo upgraded Blueprint Medicines from Equal Weight to Overweight and set a new price target of $82.00 from $55.00 previously
SVB Securities downgraded Blueprint Medicines from Market Perform to Underperform and set a new price target of $43.00 from $48.00 previously
Wells Fargo upgraded Blueprint Medicines from Underweight to Equal Weight and set a new price target of $41.00
Needham initiated coverage of Blueprint Medicines with a rating of Buy and set a new price target of $60.00
-- Achieved $128.2 million in AYVAKIT net product revenues in the third quarter 2024 -- -- Raising AYVAKIT net product revenue guidance to $475 million to $480 million for 2024 -- -- On track to initiate the registration-enabling HARBOR Part 2 study of elenestinib in ISM by year end -- CAMBRIDGE, Mass., Oct. 30, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today reported financial results, provided a business update for the third quarter ended Sept 30, 2024, and provided updated financial guidance. "With another strong quarter of AYVAKIT revenue perform
CAMBRIDGE, Mass., Oct. 16, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Wednesday, October 30, 2024, to report its third quarter 2024 financial results and provide a corporate update. To access the live conference call, please dial 833-470-1428 (domestic) or 404-975-4839 (international) and refer to conference ID 387547. A webcast of the call will also be available under "Events and Presentations" in the Investors & Media section of the Blueprint Medicines website at h
-- Achieved $114.1 million in AYVAKIT net product revenues in the second quarter 2024 -- -- Raising AYVAKIT net product revenue guidance to $435 million to $450 million for 2024 -- -- Initiated Phase 1 healthy volunteer trial of wild-type KIT inhibitor BLU-808 -- CAMBRIDGE, Mass., Aug. 1, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today reported financial results, provided a business update for the second quarter ended June 30, 2024, and provided updated financial guidance. "This quarter marks a milestone, as we celebrate one full year since the U.S. a
CAMBRIDGE, Mass., July 18, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Thursday, August 1, 2024, to report its second quarter 2024 financial results and provide a corporate update. To access the live conference call, please dial 833-470-1428 (domestic) or 404-975-4839 (international) and refer to conference ID 299779. A webcast of the call will also be available under "Events and Presentations" in the Investors & Media section of the Blueprint Medicines website at htt
-- Achieved $92.5 million in AYVAKIT net product revenues in the first quarter 2024 -- -- Raising guidance to $390 million to $410 million in full year AYVAKIT net product revenues -- -- Strengthening presence in allergy and inflammation with the IND for wild-type KIT inhibitor BLU-808 on track for filing in Q2 -- CAMBRIDGE, Mass., May 2, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today reported financial results, provided a business update for the first quarter ended March 31, 2024, and provided updated financial guidance. "We delivered another very s
CAMBRIDGE, Mass., April 18, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Thursday, May 2, 2024, to report its first quarter 2024 financial results and provide a corporate update. To access the live conference call, please dial 833-470-1428 (domestic) or 404-975-4839 (international) and refer to conference ID 186292. A webcast of the call will also be available under "Events and Presentations" in the Investors & Media section of the Blueprint Medicines website at http:/
-- Dr. Mariana Castells, M.D., Ph.D., a renowned researcher and clinical expert in mast cell diseases, will join members of Blueprint Medicines' management team to provide a perspective on the mast cell as a promising target for treating allergic and inflammatory disease on April 25, 2024, at 10:00 a.m. ET -- -- First in a series of planned webcasts hosted by Blueprint to highlight evolving science around R&D and pipeline strategy -- CAMBRIDGE, Mass., April 11, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced it will launch a webcast series to provide scientific perspectives and showcase the company's research and development strategy. The first event in th
-- Achieved $204.2 million in AYVAKIT®/AYVAKYT® (avapritinib) net product revenues in 2023, including $71.0 million in the fourth quarter -- -- Anticipate global AYVAKIT net product revenue of approximately $360 million to $390 million in 2024, representing >80 percent year-over-year growth at the midpoint -- -- Nine presentations highlighting AYVAKIT long-term safety and efficacy, BLU-808 preclinical profile, and additional data fortifying leadership in mast cell diseases accepted for presentation at 2024 AAAAI Annual Meeting -- CAMBRIDGE, Mass., Feb. 15, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today reported financial results and provided a business update for t
CAMBRIDGE, Mass., Feb. 1, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Thursday, February 15, 2024, to report its fourth quarter and full year 2023 financial results and provide a corporate update. To access the live conference call, please dial 833-470-1428 (domestic) or 404-975-4839 (international) and refer to conference ID 071930. A webcast of the call will also be available under "Events and Presentations" in the Investors & Media section of the Blueprint Medicine
CAMBRIDGE, Mass., Oct. 12, 2023 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Thursday, October 26, 2023, to report its third quarter financial results and provide a corporate update. To access the live conference call, please dial 833-470-1428 (domestic) or 404-975-4839 (international), and refer to conference ID 368229. A webcast of the call will also be available under "Events and Presentations" in the Investors & Media section of the Blueprint Medicines website at http:/
-- Company to present registrational PIONEER trial results at 2023 AAAAI Annual Meeting -- CAMBRIDGE, Mass., Nov. 22, 2022 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC) today announced the submission of a supplemental new drug application to the U.S. Food and Drug Administration (FDA) for AYVAKIT® (avapritinib) for the treatment of adults with indolent systemic mastocytosis (SM). AYVAKIT was designed to potently and selectively inhibit D816V mutant KIT, the underlying cause of SM in about 95 percent of cases. The submission includes data from the registrationa
Analysis utilizing GuardantINFORM™ real-world evidence platform shows cumulative incidence of EGFR C797X mutation was 12.5 percent in NSCLC patients likely to progress after first-line osimertinib treatment Study demonstrates need to identify C797X-driven resistance and tailor therapy options appropriately for patients with EGFR-mutant NSCLC Guardant Health Inc. (NASDAQ:GH), a leading precision oncology company, and Blueprint Medicines Corporation (NASDAQ:BPMC) announced today they are presenting new data demonstrating that the EGFR C797X mutation is the most common resistance mechanism to osimertinib therapy for patients with advanced non-small cell lung cancer (NSCLC). The results ar
-- Report highlights efforts to deliver sustainable value to patients and communities, foster a diverse and empowered workforce, and operate with exceptional integrity -- CAMBRIDGE, Mass., July 14, 2022 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today published its first Corporate Responsibility Report, highlighting its long-standing commitment to deliver sustainable value to patients with cancer and blood disorders, as well as the communities in which it operates. The report, which formalizes the company's efforts to track and report environmental, social and governance (ESG) standards and initiatives, includes summaries and performance metrics that demonstrate its purpos
CAMBRIDGE, Mass., June 23, 2022 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced the appointment of Habib Dable to its board of directors. Mr. Dable, who was Chief Executive Officer of Acceleron Pharma from 2016 to 2021, brings nearly 30 years of experience in strategic leadership, commercial growth and organizational scale across global pharmaceutical and emerging biotechnology companies. "Habib's experience leading global, complex organizations will be incredibly valuable as Blueprint Medicines drives our next phase of transformational growth," s
-- AYVAKYT is the first approved therapy in the European Union designed to selectively target the KIT D816V mutation, the primary driver of disease -- -- Advanced Systemic Mastocytosis (AdvSM) is a debilitating disease characterized by damage across multiple organ systems, reduced overall survival and poor quality of life -- -- Initial commercial launch is planned for Germany immediately following the EC approval -- CAMBRIDGE, Mass., March 25, 2022 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that the European Commission (EC) has expanded the current indication for AYVAKYT® (avapritinib) to include monotherapy for the treatment of adult patients with aggress
CAMBRIDGE, Mass., Jan. 5, 2022 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced that its Board of Directors has appointed Kate Haviland to succeed Jeff Albers as Chief Executive Officer (CEO), effective April 4, 2022. At that time, Mr. Albers will transition from his current role as Chairman, President and CEO to Executive Chairman of the Board of Directors and Ms. Haviland will transition from her current role as Chief Operating Officer (COO) to President and CEO. In addition, Ms. Haviland will be appointed to serve on the company's Board of Directors, effective April 4, 2022.
CAMBRIDGE, Mass., Dec. 9, 2021 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced the appointment of Daniella Beckman to its board of directors. Ms. Beckman, who is currently the Chief Financial Officer of Tango Therapeutics and board member for Vor Biopharma and 5:01 Acquisition Corp, brings more than 20 years of corporate strategy, finance and business operations experience. "Daniella's wealth of experience in the biopharmaceutical sector brings new strength to our Board of Directors," said Jeff Albers, Chief Executive Officer and Chairman of the B
CAMBRIDGE, Mass., May 17, 2021 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ:BPMC) today announced the appointment of Percy Carter, MBA, Ph.D., as Chief Scientific Officer, effective May 19, 2021. In this role, Dr. Carter will oversee all of the company's research and preclinical development. "I am thrilled to welcome Percy to Blueprint Medicines. His proven track record of advancing promising science into the clinic and leading diverse, high-performing research teams will be invaluable as we seek to further advance and expand our precision therapy pipeline," said F
DARTMOUTH, Nova Scotia--(BUSINESS WIRE)--IMV Inc. (the "Company" or "IMV") (NASDAQ: IMV; TSX: IMV), a clinical-stage biopharmaceutical company pioneering a novel class of immunotherapies, today announced the appointment of Mr. Kyle Kuvalanka to its Board of Directors effective April 1, 2021. Mr. Kuvalanka brings over 20 years of experience as a senior leader in the biopharmaceutical industry with a successful track record in forming and negotiating strategic collaborations, leading financings, facilitating strategy development, as well as building and directing business and finance functions. Currently, Mr. Kuvalanka serves as Chief Financial Officer and Chief Operating Officer at G
CAMBRIDGE, Mass., Jan. 5, 2021 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced that, effective on January 1, 2021, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 7,675 shares of its common stock and an aggregate of 3,837 restricted stock units (RSUs) to three new employees under Blueprint Medicines' 2020 Inducement Plan. The 2020 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee dire
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Morgan Stanley analyst Michael Ulz maintains Blueprint Medicines (NASDAQ:BPMC) with a Equal-Weight and raises the price target from $110 to $115.
Oppenheimer analyst Matthew Biegler maintains Blueprint Medicines (NASDAQ:BPMC) with a Outperform and raises the price target from $114 to $125.
During the last three months, 17 analysts shared their evaluations of Blueprint Medicines (NASDAQ:BPMC), revealing diverse outlooks from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 8 5 3 0 1 Last 30D 1 0 0 0 0 1M Ago 0 1 0 0 0 2M Ago 4 2 3 0 1 3M Ago 3 2 0 0 0 In the assessment of 12-month price targets, analysts unveil insights for Blueprint Medicines, presenting an average target of $116.35, a high estimate of $168.00, and a low estimate of $75.00. Witnessing a positiv
Needham analyst Ami Fadia reiterates Blueprint Medicines (NASDAQ:BPMC) with a Buy and maintains $130 price target.
In the preceding three months, 16 analysts have released ratings for Blueprint Medicines (NASDAQ:BPMC), presenting a wide array of perspectives from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 7 5 3 0 1 Last 30D 0 1 0 0 0 1M Ago 0 1 0 0 0 2M Ago 7 3 3 0 1 3M Ago 0 0 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $115.5, a high estimate of $168.00, and a low estimate of $75.00. Marking an increase of 19.69%, the current av
JMP Securities analyst Reni Benjamin reiterates Blueprint Medicines (NASDAQ:BPMC) with a Market Outperform and maintains $125 price target.
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Here's the list of options activity happening in today's session: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume MRK CALL SWEEP BEARISH 05/24/24 $133.00 $28.5K 477 2.1K INSM CALL SWEEP BULLISH 07/19/24 $45.00 $34.5
Ratings for Blueprint Medicines (NASDAQ:BPMC) were provided by 18 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 8 5 3 0 2 Last 30D 0 1 0 0 0 1M Ago 7 2 3 0 1 2M Ago 0 1 0 0 0 3M Ago 1 1 0 0 1 In the assessment of 12-month price targets, analysts unveil insights for Blueprint Medicines, presenting an average target of $111.06, a high estimate of $168.00, and a low estimate of $65.00. Surpas
Stephens & Co. analyst Sudan Loganathan initiates coverage on Blueprint Medicines (NASDAQ:BPMC) with a Overweight rating and announces Price Target of $140.
Leerink Partners analyst Andrew Berens upgrades Blueprint Medicines (NASDAQ:BPMC) from Underperform to Market Perform and raises the price target from $50 to $97.