Blueprint Medicines (NASDAQ:BPMC) had its price objective hoisted by Wedbush from $98.00 to $106.00 in a research note issued to investors on Monday morning. Wedbush currently has an outperform rating on the biotechnology company’s stock.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered Blueprint Medicines from a hold rating to a sell rating in a report on Friday, February 23rd. BidaskClub lowered Blueprint Medicines from a buy rating to a hold rating in a report on Tuesday, April 10th. ValuEngine raised Blueprint Medicines from a hold rating to a buy rating in a report on Monday, April 2nd. Cowen reaffirmed a buy rating on shares of Blueprint Medicines in a report on Wednesday, February 21st. Finally, JMP Securities set a $109.00 price objective on Blueprint Medicines and gave the stock a buy rating in a report on Monday. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $87.80.
Blueprint Medicines stock opened at $83.25 on Monday. The firm has a market capitalization of $3,854.26, a price-to-earnings ratio of -21.24 and a beta of 0.97. Blueprint Medicines has a 12 month low of $34.38 and a 12 month high of $109.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 15.98 and a quick ratio of 15.98.
Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Wednesday, February 21st. The biotechnology company reported ($1.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.07) by ($0.16). The business had revenue of $1.63 million during the quarter, compared to the consensus estimate of $5.28 million. Blueprint Medicines had a negative return on equity of 38.79% and a negative net margin of 691.30%. The firm’s revenue for the quarter was down 78.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.75) EPS. equities research analysts forecast that Blueprint Medicines will post -4.85 earnings per share for the current year.
In related news, insider Marion Dorsch sold 2,300 shares of Blueprint Medicines stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $100.07, for a total transaction of $230,161.00. Following the transaction, the insider now directly owns 2,300 shares in the company, valued at $230,161. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kate Haviland sold 6,775 shares of Blueprint Medicines stock in a transaction on Monday, February 12th. The shares were sold at an average price of $74.93, for a total value of $507,650.75. Following the transaction, the insider now owns 12,649 shares in the company, valued at $947,789.57. The disclosure for this sale can be found here. Insiders sold 89,567 shares of company stock valued at $7,651,106 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Blueprint Medicines by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 369,391 shares of the biotechnology company’s stock valued at $27,855,000 after purchasing an additional 35,455 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Blueprint Medicines by 57.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,866 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 680 shares in the last quarter. Alkeon Capital Management LLC purchased a new position in Blueprint Medicines during the fourth quarter valued at $754,000. Virtus Fund Advisers LLC purchased a new position in Blueprint Medicines during the fourth quarter valued at $348,000. Finally, Bank of New York Mellon Corp lifted its position in Blueprint Medicines by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 193,937 shares of the biotechnology company’s stock valued at $14,624,000 after purchasing an additional 17,908 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.
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About Blueprint Medicines
Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.
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