Zacks Investment Research upgraded shares of Blueprint Medicines Corporation (NASDAQ:BPMC) from a sell rating to a hold rating in a research note published on Monday, July 17th.
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 research firms also recently commented on BPMC. Canaccord Genuity set a $52.00 target price on Blueprint Medicines Corporation and gave the stock a buy rating in a report on Tuesday, June 6th. TheStreet downgraded Blueprint Medicines Corporation from a c- rating to a d+ rating in a report on Wednesday, May 3rd. Jefferies Group LLC upped their price target on Blueprint Medicines Corporation from $42.00 to $52.00 and gave the company a buy rating in a report on Thursday, May 4th. Wedbush reaffirmed an outperform rating and set a $55.00 price target on shares of Blueprint Medicines Corporation in a report on Tuesday, June 6th. Finally, BidaskClub upgraded Blueprint Medicines Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $47.90.
Blueprint Medicines Corporation (NASDAQ:BPMC) opened at 46.11 on Monday. Blueprint Medicines Corporation has a 52 week low of $23.71 and a 52 week high of $56.81. The stock has a 50 day moving average of $51.90 and a 200-day moving average of $42.60. The firm’s market cap is $1.80 billion.
Blueprint Medicines Corporation (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.11. The firm had revenue of $5.89 million during the quarter, compared to analysts’ expectations of $5.96 million. Blueprint Medicines Corporation had a negative return on equity of 45.58% and a negative net margin of 388.91%. Blueprint Medicines Corporation’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.70) earnings per share. Analysts expect that Blueprint Medicines Corporation will post ($3.59) earnings per share for the current year.
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In other news, Director Daniel Lynch sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $55.06, for a total value of $412,950.00. Following the completion of the sale, the director now directly owns 211,842 shares of the company’s stock, valued at approximately $11,664,020.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $50.47, for a total value of $1,009,400.00. Following the completion of the sale, the chief executive officer now directly owns 47,920 shares of the company’s stock, valued at $2,418,522.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,622 shares of company stock valued at $6,484,605. 3.40% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in Blueprint Medicines Corporation by 23.3% in the second quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 778 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Blueprint Medicines Corporation by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 32,932 shares of the biotechnology company’s stock worth $924,000 after buying an additional 881 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Blueprint Medicines Corporation by 6.0% in the first quarter. Prudential Financial Inc. now owns 17,304 shares of the biotechnology company’s stock worth $692,000 after buying an additional 984 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Blueprint Medicines Corporation by 31.8% in the first quarter. Legal & General Group Plc now owns 5,884 shares of the biotechnology company’s stock worth $235,000 after buying an additional 1,419 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Blueprint Medicines Corporation by 10.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 17,155 shares of the biotechnology company’s stock worth $686,000 after buying an additional 1,589 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.
About Blueprint Medicines Corporation
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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