BUZZ-Leerink Partners raises PT on Blueprint Medicines
Brokerage Leerink Partners raises PT on biotech firm Blueprint Medicines Corp BPMC.O to $98 from $89; maintains "market perform" rating
New PT represents a 5.1% downside to the stock's last close
BPMC is testing BLU-808 for the treatment of mast cell disorders, a condition where the immune system overreacts, causing symptoms such as hives, itching, and swelling
Brokerage says "BLU-808 data supports advancement into proof-of-concept trials in allergic and inflammatory diseases"
Brokerage notes BLU-808's reductions in serum tryptase, an enzyme released by mast cells in the blood, are "encouraging", given they appear relatively in line with competitor Celldex Therapeutics' CLDX.O barzolvolimab
Brokerage says the biomarker response at low doses could help BLU-808 manage side effects, despite concerns about hair color changes
BPMC fell 4.2% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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