Leerink Partners raises PT on Blueprint Medicines

Celldex Therapeutics

14/01/2025 19:14

** 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;))