Zacks Investment Research upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a buy rating in a research report report published on Monday, January 8th. Zacks Investment Research currently has $87.00 target price on the biotechnology company’s stock.
According to Zacks, “Blueprint Medicines Corp is an oncology company which is engaged in developing kinase inhibitors for genomically defined cancer subsets. Blueprint Medicines Corp is based in Cambridge, MA. “
Several other brokerages have also issued reports on BPMC. DA Davidson initiated coverage on shares of Blueprint Medicines in a research note on Friday, September 29th. They set a buy rating and a $90.00 price target for the company. ValuEngine lowered shares of Blueprint Medicines from a hold rating to a sell rating in a research note on Friday, December 1st. Goldman Sachs Group restated a buy rating and set a $79.00 price target (up previously from $64.00) on shares of Blueprint Medicines in a research note on Wednesday, September 20th. Canaccord Genuity raised their price target on shares of Blueprint Medicines from $56.00 to $66.00 and gave the stock a buy rating in a research note on Wednesday, September 20th. Finally, Raymond James Financial set a $82.00 price target on shares of Blueprint Medicines and gave the stock a buy rating in a research note on Sunday, December 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. Blueprint Medicines presently has a consensus rating of Buy and a consensus target price of $84.20.
Blueprint Medicines (NASDAQ:BPMC) traded up $0.79 during trading on Monday, hitting $79.24. 158,155 shares of the company’s stock traded hands, compared to its average volume of 386,200. The company has a debt-to-equity ratio of 0.02, a quick ratio of 11.28 and a current ratio of 11.28. Blueprint Medicines has a 1 year low of $31.35 and a 1 year high of $92.00. The company has a market cap of $3,398.03, a PE ratio of -23.24 and a beta of 1.29.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.06). Blueprint Medicines had a negative return on equity of 43.11% and a negative net margin of 437.83%. The company had revenue of $8.07 million for the quarter, compared to analysts’ expectations of $5.35 million. During the same quarter in the previous year, the business earned ($0.62) EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. sell-side analysts expect that Blueprint Medicines will post -3.75 EPS for the current fiscal year.
In related news, insider Anthony L. Boral sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.40, for a total value of $352,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marion Dorsch sold 18,334 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $65.45, for a total transaction of $1,199,960.30. Following the completion of the transaction, the insider now owns 18,334 shares of the company’s stock, valued at $1,199,960.30. The disclosure for this sale can be found here. Insiders sold a total of 58,334 shares of company stock valued at $3,978,160 over the last quarter. 3.40% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in Blueprint Medicines by 10.8% in the 2nd quarter. FMR LLC now owns 5,300,589 shares of the biotechnology company’s stock valued at $268,581,000 after purchasing an additional 516,835 shares during the period. BlackRock Inc. boosted its holdings in Blueprint Medicines by 39.6% in the 2nd quarter. BlackRock Inc. now owns 2,864,255 shares of the biotechnology company’s stock valued at $145,131,000 after purchasing an additional 811,820 shares during the period. Lord Abbett & CO. LLC boosted its holdings in Blueprint Medicines by 0.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,729,169 shares of the biotechnology company’s stock valued at $87,617,000 after purchasing an additional 8,903 shares during the period. Vanguard Group Inc. boosted its holdings in Blueprint Medicines by 16.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,415,963 shares of the biotechnology company’s stock valued at $71,746,000 after purchasing an additional 195,517 shares during the period. Finally, State Street Corp boosted its holdings in Blueprint Medicines by 76.8% in the 2nd quarter. State Street Corp now owns 1,400,035 shares of the biotechnology company’s stock valued at $70,936,000 after purchasing an additional 608,296 shares during the period. 83.54% of the stock is owned by hedge funds and other institutional investors.
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About Blueprint Medicines
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.
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