Blueprint Medicines (NASDAQ:BPMC) had its target price lifted by Canaccord Genuity from $105.00 to $120.00 in a research report report published on Friday, The Fly reports. The firm currently has a buy rating on the biotechnology company’s stock.
Several other equities analysts have also commented on BPMC. Deutsche Bank started coverage on shares of Blueprint Medicines in a research report on Thursday, July 18th. They set a buy rating and a $110.00 price objective for the company. Goldman Sachs Group reiterated a buy rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Thursday, May 23rd. BidaskClub upgraded shares of Blueprint Medicines from a buy rating to a strong-buy rating in a research report on Wednesday, July 24th. Robert W. Baird started coverage on shares of Blueprint Medicines in a research report on Thursday, July 18th. They set an outperform rating and a $120.00 price objective for the company. Finally, Cowen reiterated a buy rating on shares of Blueprint Medicines in a research report on Monday, June 17th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $109.44.
Shares of NASDAQ:BPMC opened at $90.89 on Friday. The company has a current ratio of 6.59, a quick ratio of 6.59 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $96.10. Blueprint Medicines has a fifty-two week low of $44.58 and a fifty-two week high of $102.98. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of -16.86 and a beta of 1.55.
Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.92) by ($0.12). Blueprint Medicines had a negative return on equity of 81.47% and a negative net margin of 4,268.74%. The company had revenue of $5.11 million for the quarter, compared to the consensus estimate of $1.39 million. During the same quarter in the prior year, the company posted ($0.62) EPS. Blueprint Medicines’s revenue was down 87.7% compared to the same quarter last year. Equities research analysts anticipate that Blueprint Medicines will post -8.1 EPS for the current year.
In other news, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $84.75, for a total value of $1,695,000.00. Following the completion of the sale, the chief executive officer now owns 48,961 shares in the company, valued at approximately $4,149,444.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ariel Hurley sold 2,733 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $88.04, for a total transaction of $240,613.32. The disclosure for this sale can be found here. Insiders have sold 113,378 shares of company stock valued at $10,264,022 in the last quarter. 4.02% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in shares of Blueprint Medicines by 6.7% in the 2nd quarter. Swiss National Bank now owns 78,000 shares of the biotechnology company’s stock worth $7,358,000 after acquiring an additional 4,900 shares during the last quarter. Comerica Bank lifted its holdings in shares of Blueprint Medicines by 30.4% in the 2nd quarter. Comerica Bank now owns 10,971 shares of the biotechnology company’s stock worth $1,057,000 after acquiring an additional 2,559 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Blueprint Medicines by 111.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 34,346 shares of the biotechnology company’s stock worth $3,184,000 after acquiring an additional 18,066 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Blueprint Medicines by 11.8% in the 2nd quarter. TD Asset Management Inc. now owns 70,118 shares of the biotechnology company’s stock worth $6,614,000 after acquiring an additional 7,393 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Blueprint Medicines in the 2nd quarter worth about $677,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.
Blueprint Medicines Company Profile
Blueprint Medicines Corporation 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 completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; 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.
Further Reading: What is a growth and income fund?
Receive News & Ratings for Blueprint Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines and related companies with MarketBeat.com's FREE daily email newsletter.