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Fly News Breaks for November 16, 2018
BPMC, DCPH
Nov 16, 2018 | 08:42 EDT
Leerink analyst Andrew Berens lowered his price target for Deciphera Pharmaceuticals (DCPH) to $20 from $28 and reiterates an Underperform rating on the name. The updated data for avapritinib from Blueprint Medicines (BPMC) in gastro-intestinal stromal tumors reaffirmed a leading position in PDGFRalpha and 4L GIST, and demonstrated early activity in 2L patients, Berens tells investors in a research note. He believes this challenges key tenets of Dicephera's DCC-2618 value proposition. The analyst also thinks the weakness in Blueprint shares yesterday was due in part to a misunderstanding of the early second-line data that were presented, in addition to the safety concerns. Berens keeps an Outperform rating on Blueprint.
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