ValuEngine Downgrades Blueprint Medicines (NASDAQ:BPMC) to Buy

Share on StockTwits

Blueprint Medicines (NASDAQ:BPMC) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

BPMC has been the subject of several other reports. BidaskClub raised shares of Blueprint Medicines from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 22nd. HC Wainwright started coverage on shares of Blueprint Medicines in a research note on Thursday, October 3rd. They set a “buy” rating and a $100.00 price objective for the company. Robert W. Baird started coverage on shares of Blueprint Medicines in a research note on Thursday, July 18th. They set an “outperform” rating and a $120.00 price objective for the company. Raymond James raised shares of Blueprint Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $106.00 to $112.00 in a research note on Wednesday. Finally, Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $104.36.

BPMC traded up $0.13 during trading on Thursday, reaching $73.26. The company’s stock had a trading volume of 298,000 shares, compared to its average volume of 459,958. The company’s fifty day moving average price is $73.99 and its 200-day moving average price is $82.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.59 and a beta of 1.60. Blueprint Medicines has a 52-week low of $44.58 and a 52-week high of $102.98.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.19) by $0.26. The company had revenue of $9.14 million during the quarter, compared to the consensus estimate of $2.85 million. Blueprint Medicines had a negative return on equity of 80.02% and a negative net margin of 2,258.84%. Blueprint Medicines’s revenue was up 734.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.66) EPS. Equities analysts predict that Blueprint Medicines will post -8.22 earnings per share for the current year.

In related news, insider Ariel Hurley sold 415 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $84.02, for a total transaction of $34,868.30. Following the completion of the sale, the insider now directly owns 415 shares of the company’s stock, valued at approximately $34,868.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony L. Boral sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $80.07, for a total transaction of $800,700.00. Following the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at $104,091. The disclosure for this sale can be found here. Insiders have sold a total of 41,340 shares of company stock valued at $3,365,796 over the last three months. Corporate insiders own 4.02% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BPMC. Rockefeller Capital Management L.P. boosted its position in Blueprint Medicines by 4,594.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 798 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 781 shares during the period. Whittier Trust Co. purchased a new stake in Blueprint Medicines during the 2nd quarter worth $97,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Blueprint Medicines by 62.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 423 shares during the period. Trexquant Investment LP purchased a new stake in Blueprint Medicines during the 2nd quarter worth $203,000. Finally, Flinton Capital Management LLC purchased a new stake in Blueprint Medicines during the 2nd quarter worth $211,000. 99.39% of the stock is owned by hedge funds and other institutional investors.

About Blueprint Medicines

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.

Recommended Story: Street Name

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.