Blueprint Sinks, Loxo Rises After Trial Data On Potential Solid Tumor Treatment

Shares of Blueprint Medicines ( BPMC) are sliding after the company reported data over the weekend regarding its early-stage candidate in RET-altered tumors. This morning, both Wedbush and JMP Securities raised their price targets on the stock, while Morgan Stanley analyst Matthew Harrison upgraded competitor Loxo Oncology ( LOXO) to a buy-equivalent rating as he believes the initial Blueprint data was at the lower-end of Loxo investors' expectations.