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BPMC

Blueprint Medicines

$80.82

0.66 (0.82%)

08:54
01/10/20
01/10
08:54
01/10/20
08:54

Blueprint Medicines price target raised to $120 from $103 at SVB Leerink

SVB Leerink analyst Andrew Berens raised his price target for Blueprint Medicines to $120 from $103 and maintained an Outperform rating after the FDA approved Ayvakit for the treatment of patients with gastrointestinal stromal tumors harboring PDGFRalpha Exon 18 mutation. In conjunction with the approval, the company announced its commercial strategy for the drug, including a significantly higher price point for the drug, at $32k/month wholesale acquisition cost, over 2x what we had initially forecasted. Berens tells investors in a research note that he believes this premium price point is justifiable in PDGFRalpha GIST, where the drug has superlative efficacy and no competition, and the FDA's decision to delay action on the non-PDGFRalpha GIST part of the application, where the data are less compelling, may have counter-intuitively worked to the company's advantage. He believes other companies with targeted oncology drugs in development may adopt similar pricing strategies, which could spark a rally as investors contemplate these new valuations.

  • 14

    Feb

BPMC Blueprint Medicines
$80.82

0.66 (0.82%)

12/20/19
JEFF
12/20/19
NO CHANGE
Target $77
JEFF
Buy
Oncologists survey positive for Deciphera, says Jefferies
Jefferies analyst Eun Yang said her survey of 25 U.S. oncologists pointed to expected utilization for Blueprint Medicines' (BPMC) avapritinib that was about in-line with her expectations but expected utilization for Deciphera's (DCPH) ripretinib that was above her prior estimates, assuming both agents are approved in 2020. For the period of 2021-2023, she has increased her ripretinib U.S. sales estimates and raised her price target on Deciphera shares to $77 from $53 and she keeps a Buy rating on the shares. Yang also maintains a Buy rating on Blueprint shares with an unchanged price target of $105.
01/02/20
GUGG
01/02/20
DOWNGRADE
GUGG
Neutral
Incyte downgraded to Neutral after strong 2019 at Guggenheim
As previously reported, Guggenheim analyst Michael Schmidt downgraded Incyte (INCY) to Neutral from Buy, stating that he now views the shares as fairly valued following their strong performance in 2019. Schmidt also downgraded Seattle Genetics (SGEN) to Neutral from Buy, citing the same rationale. Among the companies expected to be commercial in 2020 that he covers, Schmidt maintains Buy ratings on Agios Pharmaceuticals (AGIO), Blueprint Medicines (BPMC), Deciphera (DCPH), Exelixis (EXEL), Genmab (GMAB), and Immunomedics (IMMU).
01/08/20
PIPR
01/08/20
NO CHANGE
PIPR
Neutral
Eli Lilly still has edge over Blueprint in RET+ lung cancer, says Piper Sandler
After Blueprint Medicines (BPMC) disclosed about 7 months of additional data from the P1/2 ARROW study in patients with RET fusion-positive non-small cell lung cancer, or NSCLC, Piper Sandler analyst Christopher Raymond noted that mDOR was not reached and that CNS response data were not provided. With pralsetinib's durability still not known, he continues to believe Eli Lilly (LLY) "has the edge" in treating later-line NSCLC patients with selpercatinib. Raymond, who prefers "to watch this story play out from the sidelines," maintains a Neutral rating on Blueprint shares.
01/09/20
PIPR
01/09/20
NO CHANGE
PIPR
Neutral
Piper says ICB risk 'discussed prominently and often' in Blueprint drug's label
Piper Sandler analyst Christopher Raymond keeps a Neutral rating on Blueprint Medicines shares after the company's Ayvakit was approved just over a month before the PDUFA action date of February 14 for PDGFRalpha, exon 18 mutated GIST. He said "the full toxicity profile of this agent may surprise some" as the risk of intracranial bleeds "is discussed prominently and often" in the drug's prescribing information. He is still comfortable with his 2020 Ayvakit revenue estimate of $10M, but thinks the label "underscores the competitive disadvantage" the drug could have compared to ripretinib.

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