Zacks Investment Research upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a buy rating in a report published on Monday, January 8th. The brokerage currently has $87.00 target price on the biotechnology company’s stock.
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. “
BPMC has been the topic of several other reports. JMP Securities increased their price objective on shares of Blueprint Medicines from $88.00 to $97.00 and gave the company an outperform rating in a research report on Monday, December 11th. Morgan Stanley increased their price objective on shares of Blueprint Medicines from $45.00 to $78.00 and gave the company an overweight rating in a research report on Monday, October 23rd. Cowen reissued a buy rating on shares of Blueprint Medicines in a research report on Tuesday, October 31st. Canaccord Genuity reissued a buy rating and issued a $80.00 price objective (up from $66.00) on shares of Blueprint Medicines in a research report on Wednesday, November 1st. Finally, Goldman Sachs Group increased their price objective on shares of Blueprint Medicines from $82.00 to $99.00 and gave the company a buy rating in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. Blueprint Medicines currently has an average rating of Buy and a consensus target price of $84.20.
Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.06). The firm had revenue of $8.07 million for the quarter, compared to the consensus estimate of $5.35 million. Blueprint Medicines had a negative return on equity of 43.11% and a negative net margin of 437.83%. The business’s revenue was up 31.0% compared to the same quarter last year. During the same period last year, the company posted ($0.62) earnings per share. sell-side analysts expect that Blueprint Medicines will post -3.75 EPS for the current fiscal year.
In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 30,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.31, for a total transaction of $2,109,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marion Dorsch sold 18,334 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $65.45, for a total transaction of $1,199,960.30. Following the sale, the insider now owns 18,334 shares in the company, valued at $1,199,960.30. The disclosure for this sale can be found here. Insiders sold 58,334 shares of company stock worth $3,978,160 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. TimesSquare Capital Management LLC acquired a new stake in Blueprint Medicines during the second quarter worth about $28,375,000. Wells Fargo & Company MN grew its stake in Blueprint Medicines by 31.5% during the second quarter. Wells Fargo & Company MN now owns 28,827 shares of the biotechnology company’s stock worth $1,462,000 after buying an additional 6,899 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Blueprint Medicines during the third quarter worth about $6,967,000. California Public Employees Retirement System acquired a new stake in shares of Blueprint Medicines in the 2nd quarter valued at approximately $314,000. Finally, Rhumbline Advisers boosted its stake in shares of Blueprint Medicines by 62.6% in the 2nd quarter. Rhumbline Advisers now owns 43,704 shares of the biotechnology company’s stock valued at $2,214,000 after purchasing an additional 16,825 shares in the last quarter. Hedge funds and other institutional investors own 83.54% of the company’s stock.
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Blueprint Medicines Company Profile
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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