Blueprint Medicines down 7% on bearish call at Deutsche Bank

Blueprint Medicines (BPMC -6.8%) was down as over 9% intraday in apparent response to a new “Sell Catalyst Call” at Deutsche Bank. Analyst Konstantinos Aprilakis lacks confidence that initial data from a Phase 2 study, PIONEER, evaluating avapritinib in a rare disorder called indolent systemic mastocytosis will be positive.

In late October, shares briefly sold off on the news that the FDA’s review of its application for avapritinib in third- and fourth line gastrointestinal stromal tumor (GIST) will likely be delayed past the February 14 2020 PDUFA date since the agency wants to include topline results from the Phase 3 VOYAGER trial, expected to be available in Q2 2020.

https://seekingalpha.com/news/3523029-blueprint-medicines-7-percent-bearish-call-deutsche-bank