10 Best Mid Cap Biotech Stocks to Buy

4. Blueprint Medicines Corporation (NASDAQ:BPMC)

Market Cap: $5.95 billion

Number of Hedge Fund Holders: 56

Blueprint Medicines Corporation (NASDAQ:BPMC) is a commercial-stage global pharmaceutical company that develops life-changing drugs in two core areas: allergy/inflammation and oncology/hematology. The Company delivers its approved medicines in the US and Europe, including AYVAKIT/AYVAKYT (avapritinib) and PDGFRA Exon 18 mutant GIST.

Analyst Michael Yee from Jefferies maintained a Buy rating on Blueprint Medicines Corporation (NASDAQ:BPMC) on March 21, keeping the price target at $135.00. The rating was based on the company’s solid growth profile, ability to consistently surpass revenue estimates, and focus on rare diseases with limited competition, placing it in a favorable market position.

Blueprint Medicines Corporation’s (NASDAQ:BPMC) pipeline, including the WT KIT ‘808 oral pill, presents considerable upside potential. Its early Phase 1 data has delivered promising results, which the analyst expects to translate to a significant market opportunity across multiple inflammatory indications.

Despite some near-term risks, analysts and investors remain bullish on the stock, anticipating continued strong performance. Its median price target of $93.08 implies an upside of 40.74% from current levels. In another report released on March 17, Wolfe Research also initiated coverage with a Buy rating on the stock with a $132.00 price target. The company ranks fourth on our list of the best mid cap biotech stocks to buy now.