Blueprint Medicines (NASDAQ:BPMC) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.
Other research analysts have also recently issued reports about the company. Cowen restated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, August 1st. JMP Securities reduced their price objective on Blueprint Medicines from $109.00 to $103.00 and set a “buy” rating for the company in a research note on Monday, June 4th. Zacks Investment Research upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, BidaskClub upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Blueprint Medicines presently has an average rating of “Buy” and an average price target of $90.67.
Shares of NASDAQ:BPMC traded down $5.32 during trading on Monday, hitting $68.67. The stock had a trading volume of 401,900 shares, compared to its average volume of 408,057. Blueprint Medicines has a 12-month low of $57.44 and a 12-month high of $109.00. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -17.52 and a beta of 1.08. The company has a quick ratio of 12.36, a current ratio of 12.36 and a debt-to-equity ratio of 0.02.
Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $0.70. Blueprint Medicines had a negative return on equity of 32.61% and a negative net margin of 326.99%. The firm had revenue of $41.40 million during the quarter, compared to analysts’ expectations of $2.62 million. During the same period last year, the business posted ($0.86) earnings per share. The company’s revenue for the quarter was up 602.9% compared to the same quarter last year. equities analysts anticipate that Blueprint Medicines will post -5.13 EPS for the current fiscal year.
In related news, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $70.59, for a total transaction of $1,411,800.00. Following the sale, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $1,411,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.15% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in Blueprint Medicines by 0.7% during the second quarter. FMR LLC now owns 6,575,600 shares of the biotechnology company’s stock worth $417,419,000 after acquiring an additional 44,401 shares during the period. BlackRock Inc. grew its holdings in Blueprint Medicines by 1.9% during the second quarter. BlackRock Inc. now owns 3,321,905 shares of the biotechnology company’s stock worth $210,876,000 after acquiring an additional 63,392 shares during the period. OppenheimerFunds Inc. grew its holdings in Blueprint Medicines by 4.0% during the second quarter. OppenheimerFunds Inc. now owns 1,677,731 shares of the biotechnology company’s stock worth $106,503,000 after acquiring an additional 64,095 shares during the period. Hillhouse Capital Management Ltd. grew its holdings in Blueprint Medicines by 4.6% during the second quarter. Hillhouse Capital Management Ltd. now owns 1,430,949 shares of the biotechnology company’s stock worth $90,837,000 after acquiring an additional 62,500 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Blueprint Medicines by 37.6% during the second quarter. Voya Investment Management LLC now owns 436,894 shares of the biotechnology company’s stock worth $27,734,000 after acquiring an additional 119,406 shares during the period. 99.77% of the stock is currently owned by hedge funds and other institutional investors.
Blueprint Medicines Company Profile
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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