Blueprint Medicines’ (BPMC) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in a report issued on Monday, November 6th, The Fly reports. Wedbush currently has a $82.00 price objective on the biotechnology company’s stock, up from their prior price objective of $70.00. Wedbush also issued estimates for Blueprint Medicines’ Q4 2017 earnings at ($1.06) EPS, Q4 2018 earnings at ($1.29) EPS, FY2019 earnings at ($5.27) EPS, FY2020 earnings at ($5.06) EPS and FY2021 earnings at ($3.88) EPS.

BPMC has been the subject of a number of other reports. Zacks Investment Research cut shares of Blueprint Medicines from a hold rating to a sell rating in a research note on Thursday, November 2nd. Canaccord Genuity reiterated a buy rating and issued a $56.00 target price on shares of Blueprint Medicines in a research note on Monday, September 11th. DA Davidson assumed coverage on shares of Blueprint Medicines in a research note on Friday, September 29th. They issued a buy rating and a $90.00 target price for the company. BidaskClub lowered shares of Blueprint Medicines from a strong-buy rating to a buy rating in a research report on Saturday, August 19th. Finally, Jefferies Group LLC reissued a buy rating and issued a $56.00 price target on shares of Blueprint Medicines in a research report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $70.47.

Shares of Blueprint Medicines (NASDAQ:BPMC) opened at $70.57 on Monday. The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.02. Blueprint Medicines has a fifty-two week low of $25.08 and a fifty-two week high of $74.42.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.06). The company had revenue of $8.07 million for the quarter, compared to analyst estimates 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 for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.62) earnings per share. analysts forecast that Blueprint Medicines will post -3.74 earnings per share for the current fiscal year.

In other news, insider Marion Dorsch sold 18,334 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $65.45, for a total value of $1,199,960.30. Following the sale, the insider now owns 18,334 shares in the company, valued at approximately $1,199,960.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kate Haviland sold 6,356 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $60.03, for a total transaction of $381,550.68. Following the transaction, the insider now owns 6,356 shares in the company, valued at approximately $381,550.68. The disclosure for this sale can be found here. Insiders have sold 72,639 shares of company stock worth $4,871,743 in the last quarter. Corporate insiders own 3.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. California Public Employees Retirement System raised its holdings in Blueprint Medicines by 48.3% during the 3rd quarter. California Public Employees Retirement System now owns 9,197 shares of the biotechnology company’s stock worth $641,000 after purchasing an additional 2,997 shares during the last quarter. Jane Street Group LLC bought a new stake in Blueprint Medicines during the 3rd quarter worth about $1,199,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Blueprint Medicines during the 3rd quarter worth about $1,184,000. Alyeska Investment Group L.P. bought a new stake in shares of Blueprint Medicines in the 3rd quarter valued at about $6,967,000. Finally, First Republic Investment Management Inc. bought a new stake in shares of Blueprint Medicines in the 3rd quarter valued at about $293,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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