** 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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.