Is Blackstone Inc. (BX) One of the Best Cheap Blue Chip Stocks to Buy According to Analysts?

Blackstone Inc. (NYSE:BX) is one of the best cheap blue chip stocks to buy according to analysts. Blackstone Inc. (NYSE:BX) reported on February 23 that Blackstone Life Sciences (BXLS) announced a research and development funding agreement to advance the clinical development of bleximenib, which is an investigational oral menin inhibitor, for acute myeloid leukemia (AML). Management stated that despite AML being the most common type of acute leukemia in adults, it continues to be an extremely challenging ailment to treat and has the lowest survival of all leukemia types.

Blackstone Inc. (NYSE:BX) further reported that Johnson & Johnson and funds managed by BXLS would jointly finance a portion of the ongoing and future clinical trials of bleximenib in AML. The agreement marks the first time that BXLS and Johnson & Johnson have entered into a co-funding agreement.

The same day, RBC Capital initiated coverage of Blackstone Inc. (NYSE:BX) with an Outperform rating and a $179 price target. The firm told investors that Blackstone Inc. (NYSE:BX) holds a “first-mover advantage” as the first alternatives firm to launch a private wealth team, and will be a beneficiary of secular retail growth over the medium-term, coupled with an improving real estate cycle that is gaining momentum.

Blackstone Inc. (NYSE:BX) provides investment and fund management services. The company operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions.

While we acknowledge the potential of BX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.