Cogent data has positive read-through to Blueprint, says Barclays

Barclays analyst Peter Lawson sees positive read-through to Blueprint Medicines (BPMC) from Cogent Biosciences’ (COGT) abstract data for bezuclastinib in systemic mastocytosis. The data showed liver enzyme elevations leading to dose reductions and discontinuations, which could be a key differentiator given long duration of therapy in systemic mastocytosis, and efficacy potentially lower versus avapritinib, the analyst tells investors in a research note. The firm says that in advanced systemic mastocytosis efficacy favors Blueprint’s drug avapritinib. It has an Equal Weight rating on Blueprint shares with a $105 price target.