Leerink Partners analyst Andrew Berens has maintained their neutral stance on BPMC stock, giving a Hold rating on February 18.
Andrew Berens has given his Hold rating due to a combination of factors concerning Blueprint Medicines. The analysis of the Ayva data presented at a recent conference highlighted some concerns regarding liver function test (LFT) elevations at the 50 mg dose of Ayvakit. Although the company denies any new adverse events of significant AST/ALT increases, there were discrepancies between their statements and the characterization by a lead investigator, suggesting potential Grade 3 LFT elevations in some patients.
Furthermore, the FDA’s review document indicated some AST/ALT elevations, but the company clarified that these were not new occurrences and were related to pre-existing conditions in patients. Despite these issues, Ayvakit still shows a favorable profile compared to competitors like COGT’s bezu, particularly in terms of LFT elevation magnitude. These mixed signals and the need for further clarity on the safety profile contribute to the Hold rating, as the potential benefits are weighed against the risks observed in the clinical data.
In another report released on February 18, Barclays also maintained a Hold rating on the stock with a $105.00 price target.