** 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;))
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