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Blueprint Medicines receives CRL from FDA on NDA for avapritinib » 08:0205/1505/15/20
Blueprint Medicines announced that the U.S. FDA has issued a complete response letter for the new drug application of avapritinib for the treatment of adults with unresectable or metastatic fourth-line gastrointestinal stromal tumor. The CRL states that the FDA cannot approve the application.
FDA PDUFA Date for Blueprint Medicines Avapritinib is May 14, 2020 07:5005/1405/14/20
Deciphera downgraded to Neutral on GIST program risks at Nomura Instinet » 16:0605/0605/06/20
As previously reported,…
As previously reported, Nomura Instinet analyst Christopher Marai downgraded Deciphera (DCPH) to Neutral from Buy with a price target of $60, down from $84. Despite Blueprint Medicines' (BPMC) recent avapritinib failure in the VOYAGER trial, Deciphera's GIST program faces "mounting risky events," including a commercial launch in a potentially narrow setting, which Marai sees putting downward pressure on Deciphera shares in the near-term. While he sees little risk to ripretinib's approval, Marai views the "show-me" launch as a risk to upside, the analyst added.
Blueprint Medicines: Cash sufficient to fund operating expenses to 2H22 » 07:1405/0605/06/20
Based on its current…
Based on its current operating plans, Blueprint Medicines expects that its existing cash, cash equivalents and investments, together with anticipated product revenues but excluding any potential option fees, milestone payments or other payments under its collaboration or license agreements, will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the second half of 2022.
Blueprint Medicines reports Q1 EPS ($2.11), consensus ($2.17) » 07:1305/0605/06/20
Reports Q1 revenue $6.2M,…
Reports Q1 revenue $6.2M, consensus $5.44M.
Blueprint Medicines initiated with an Equal Weight at Barclays » 06:2205/0505/05/20
Barclays analyst Peter…
Barclays analyst Peter Lawson initiated coverage of Blueprint Medicines with an Equal Weight rating and $59 price target. The analyst expanded coverage with six additional SMID cap oncology stocks in the U.S. Small & Mid Cap Biotechnology sector, where he has a Positive view. Lawson is awaiting more data from Blueprint before getting more constructive on the shares.
Deciphera price target raised to $55 from $50 at SVB Leerink » 08:1004/2904/29/20
SVB Leerink analyst…
SVB Leerink analyst Andrew Berens raised the firm's price target on Deciphera (DCPH) to $55 from $50 and keeps a Market Perform rating on the shares. Following Blueprint Medicines (BPMC) Ayvakit's demise, Deciphera's ripretinib remains the only next-generation drug to treat KIT driven GIST, the analyst notes. Therefore, he believes the drug could capture about $1.6B aggregate revenues in U.S. and EU. Nonetheless, Berens points out that if INTRIGUE fails, then ripretinib revenues will be significantly impacted, decreasing from $1.6B to about $590M, which would impact his valuation of the company by over 50%.
Blueprint Medicines price target lowered to $105 from $125 at SVB Leerink » 07:5404/2904/29/20
SVB Leerink analyst…
SVB Leerink analyst Andrew Berens lowered the firm's price target on Blueprint Medicines to $105 from $125 following the company's VOYAGER trial failure and given Blueprint Medicines management's comments that they will not be pursuing KIT GIST. The analyst keeps an Outperform rating on the shares.
Blueprint Medicines price target lowered to $66 from $100 at H.C. Wainwright » 07:1404/2904/29/20
H.C. Wainwright analyst…
H.C. Wainwright analyst Andrew Fein lowered the firm's price target on Blueprint Medicines to $66 from $100 and reiterates a Buy rating on the shares. The Voyager topline miss denies the possibility of third-line and fourth-line approvals, and the clinical utility of avapritinib in gastrointestinal stromal tumor is now likely limited to a small subset of patients with PDGFR-alpha mutations, Fein tells investors in a research note. The analyst, however, believes the fundamentals of Blueprint "remain strong."
Fly Intel: Wall Street's top stories for Tuesday » 16:4804/2804/28/20
BA, MMM, CAT, UPS, MRK, PFE, PEP, MNST, TSN, CAG, PPC, SAFM, HRL, SNDX, FFIV, CGNX, BPMC, HLIT, LRN
The major averages were…