Zacks Investment Research upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a buy rating in a research note released on Monday, January 8th. Zacks Investment Research currently has $87.00 price target 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. “
A number of other research analysts also recently weighed in on the company. Cowen restated a buy rating on shares of Blueprint Medicines in a research note on Friday, November 10th. Raymond James Financial set a $82.00 price target on Blueprint Medicines and gave the company a buy rating in a research note on Sunday, December 10th. Canaccord Genuity reiterated a buy rating and set a $80.00 target price (up from $66.00) on shares of Blueprint Medicines in a research note on Wednesday, November 1st. Morgan Stanley lifted their target price on Blueprint Medicines from $45.00 to $78.00 and gave the stock an overweight rating in a research note on Monday, October 23rd. Finally, BTIG Research assumed coverage on Blueprint Medicines in a research note on Friday, September 29th. They set a buy rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. Blueprint Medicines currently has an average rating of Buy and a consensus price target of $84.20.
Shares of Blueprint Medicines (BPMC) opened at $80.94 on Monday. Blueprint Medicines has a 1 year low of $32.43 and a 1 year high of $92.00. The company has a market capitalization of $3,563.98, a PE ratio of -23.74 and a beta of 1.29. The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.02.
Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.06). Blueprint Medicines had a negative net margin of 437.83% and a negative return on equity of 43.11%. The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $5.35 million. During the same period in the prior year, the business posted ($0.62) EPS. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. research analysts forecast that Blueprint Medicines will post -3.75 EPS for the current year.
In other Blueprint Medicines news, insider Anthony L. Boral sold 5,000 shares of Blueprint Medicines stock in a transaction on Monday, November 6th. The stock was sold at an average price of $70.40, for a total value of $352,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marion Dorsch sold 18,334 shares of Blueprint Medicines stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $65.45, for a total value of $1,199,960.30. Following the completion of the transaction, the insider now directly 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 90 days. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio raised its holdings in Blueprint Medicines by 69.6% in the 4th quarter. Strs Ohio now owns 3,900 shares of the biotechnology company’s stock valued at $294,000 after acquiring an additional 1,600 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Blueprint Medicines in the 4th quarter valued at $835,000. Schwab Charles Investment Management Inc. raised its holdings in Blueprint Medicines by 11.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 188,320 shares of the biotechnology company’s stock valued at $14,202,000 after acquiring an additional 19,485 shares in the last quarter. Bank of Montreal Can raised its holdings in Blueprint Medicines by 2,719.3% in the 4th quarter. Bank of Montreal Can now owns 6,428 shares of the biotechnology company’s stock valued at $484,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Waverton Investment Management Ltd raised its holdings in Blueprint Medicines by 18.1% in the 4th quarter. Waverton Investment Management Ltd now owns 14,760 shares of the biotechnology company’s stock valued at $1,113,000 after acquiring an additional 2,260 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.
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Blueprint Medicines Company Profile
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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