Wedbush reissued their outperform rating on shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in a research note released on Monday, November 6th, The Fly reports. Wedbush currently has a $82.00 price target on the biotechnology company’s stock, up from their previous price target of $70.00. Wedbush also issued estimates for Blueprint Medicines Corporation’s 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.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Blueprint Medicines Corporation from a hold rating to a sell rating in a report on Friday, August 4th. Canaccord Genuity set a $56.00 price objective on Blueprint Medicines Corporation and gave the company a buy rating in a research note on Wednesday, August 2nd. Cowen and Company reissued a buy rating on shares of Blueprint Medicines Corporation in a research note on Tuesday, October 31st. Morgan Stanley boosted their price objective on Blueprint Medicines Corporation from $45.00 to $78.00 and gave the company an overweight rating in a research note on Monday, October 23rd. Finally, BTIG Research began coverage on Blueprint Medicines Corporation in a research report on Friday, September 29th. They issued a buy rating and a $90.00 target price for the company. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $70.47.
Blueprint Medicines Corporation (NASDAQ:BPMC) traded down $0.57 during midday trading on Monday, hitting $66.17. The company had a trading volume of 281,027 shares, compared to its average volume of 412,044. The company has a debt-to-equity ratio of 0.02, a quick ratio of 11.28 and a current ratio of 11.28. Blueprint Medicines Corporation has a 12 month low of $25.08 and a 12 month high of $74.42.
Blueprint Medicines Corporation (NASDAQ:BPMC) last released its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share 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 analyst estimates of $5.35 million. Blueprint Medicines Corporation had a negative net margin of 437.83% and a negative return on equity of 43.11%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same period last year, the business earned ($0.62) EPS. analysts forecast that Blueprint Medicines Corporation will post -3.74 earnings per share for the current fiscal year.
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In related news, Director Daniel Lynch sold 2,500 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the transaction, the director now owns 209,342 shares of the company’s stock, valued at $12,560,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kate Haviland sold 6,356 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $60.03, for a total value of $381,550.68. Following the completion of the transaction, the insider now directly owns 6,356 shares in the company, valued at approximately $381,550.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,305 shares of company stock worth $3,671,782. 3.40% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. Rockefeller Financial Services Inc. bought a new position in shares of Blueprint Medicines Corporation during the third quarter valued at about $160,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Blueprint Medicines Corporation by 68.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 1,391 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in shares of Blueprint Medicines Corporation during the first quarter worth about $201,000. Fred Alger Management Inc. purchased a new stake in shares of Blueprint Medicines Corporation during the second quarter worth about $203,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Blueprint Medicines Corporation by 23.3% during the second quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 778 shares during the period. 91.99% of the stock is currently owned by hedge funds and other institutional investors.
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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