Third Harmonic Bio price target lowered to $7 from $15 at Jefferies

Jefferies analyst Akash Tewari lowered the firm’s price target on Third Harmonic Bio (THRD) to $7 from $15 and keeps a Hold rating on the shares after competitor Blueprint Medicines (BPMC) reported positive Phase 1 data for oral wild type KIT inhibitor BLU-808 in healthy volunteers. Pharmacokinetic data supports once a day dosing for BLU-808 and the drug “appears more potent” than Third Harmonic’s THB001, while BLU-808’s dose-dependent serum tryptase decrease looks “competitive” to ‘001, the analyst tells investors.