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BPMC

Blueprint Medicines

$75.78

-6.18 (-7.54%)

11:03
12/02/19
12/02
11:03
12/02/19
11:03

Deutsche Bank initiates Sell Catalyst Call on Blueprint Medicines ahead of data

In a note sent before the open, Deutsche Bank analyst Konstantinos Aprilakis said he has initiated a Sell Catalyst Call on Blueprint Medicines ahead of data from its Phase 2 PIONEER study of avapritinib in indolent mastocytosis, or ISM, which is expected at the upcoming ASH meeting on December 7-10. Despite management stating at last month's R&D day that there have been no discontinuations due to side effects, he does not favor the risk-reward going into this trial readout, Aprilakis told investors. He believes that if there are any signs of cognitive toxicity at the lower doses in the PIONEER study, it could "cast further doubt on avapritinib's future in ISM," the analyst added. While he is making a short-term sell call, Aprilakis has a Hold rating on Blueprint shares with a price target of $75. In morning trading, Blueprint shares are down $5.89, or 7.2%, to $76.15.

  • 07

    Dec

BPMC Blueprint Medicines
$75.78

-6.18 (-7.54%)

10/28/19
10/28/19
DOWNGRADE

Hold
Blueprint Medicines downgraded to Hold from Buy at Deutsche Bank
As previously reported, Deutsche Bank analyst Konstantinos Aprilakis downgraded Blueprint Medicines (BPMC) to Hold from Buy, citing the FDA's "surprise" intention to split the NDA for avapritinib into separate submissions for PDGFRa-driven GIST and 4L GIST. The analyst noted that the most significant implication from this would be a review delay of the 4L GIST application until after top-line data from VOYAGER are available in Q2 of 2020. On a call following the FDA announcement, Blueprint management said a "delay of the COMPASS-2L trial of avapritinib in 2L GIST until after VOYAGER readout was also discussed, and was deemed necessary to both divert company resources to the completion of VOYAGER and apply learnings from that study to inform the company's 2L strategy." Aprilakis said he did not expect a delay for the initiation of the COMPASS-2L study in 2L GIST, and now sees a real possibility the study may not launch at all. This news also gives competitor Deciphera (DCPH) the lead in both 4L and 2L KIT-driven GIST.
11/06/19
RAJA
11/06/19
UPGRADE
Target $112
RAJA
Strong Buy
Blueprint Medicines upgraded to Strong Buy from Outperform at Raymond James
Raymond James analyst Dane Leone upgraded Blueprint Medicines to Strong Buy from Outperform with a $112 price target.
11/06/19
RAJA
11/06/19
UPGRADE
Target $112
RAJA
Strong Buy
Blueprint Medicines upgraded to Strong Buy at Raymond James
Raymond James analyst Dane Leone upgraded Blueprint Medicines to Strong Buy from Outperform with a price target of $112, up from $106, following the company's R&D update in NYC. In a research note to investors, Leone says the event supported key tenets to the thesis around systemic mastocytosis, or SM, and specifically provided clinical follow-up for the indolent systemic mastocytosis group that had been treated within the EXPLORER study, a discussion with a SM KOL that provided feedback on clinical experience with avapritinib, and a first look at a next gen D816V targeted drug that will submit an IND during 1H20.
11/06/19
11/06/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Rollins (ROL) upgraded to Hold from Sell at Stifel with analyst Michael Hoffman saying the company has "reinvigorated" organic growth and when combined with more rapid consolidation of domestic Pest Control, it can likely drive double digit free cash flow growth for the next five years. 2. Tenet (THC) upgraded to Outperform from Neutral at Credit Suisse with analyst A.J. Rice saying he "solid trends" in the company's hospital business, including improving volumes, steady pricing growth, and "effective management" of underlying cost growth. 3. Blueprint Medicines (BPMC) upgraded to Strong Buy from Outperform at Raymond James with analyst Dane Leone citing the company's R&D update in NYC. 4. Lowe's (LOW) upgraded to Outperform from Neutral at Credit Suisse with analyst Seth Sigman saying the company's relative valuation versus closest peer Home Depot (HD) is near its trough level, industry demand is improving and there are "multiple sales/margin levers ahead." 5. Artisan Partners (APAM) upgraded to Buy from Neutral at Citi with analyst William Katz saying he sees potential for the company's net new assets to inflect positively into 2021, which he thinks should be enough to drive modest multiple expansion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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SRPT

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-1.15 (-1.13%)

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PHR

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SRPT

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SRPT

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AMZN

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