Blueprint Medicines Corporation (BPMC) Given “Buy” Rating at Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in a report issued on Wednesday, November 1st, The Fly reports. Canaccord Genuity currently has a $80.00 target price on the biotechnology company’s stock, up from their prior target price of $66.00.

A number of other equities research analysts have also recently commented on BPMC. Zacks Investment Research cut Blueprint Medicines Corporation from a hold rating to a sell rating in a report on Tuesday, July 4th. BidaskClub cut Blueprint Medicines Corporation from a strong-buy rating to a buy rating in a report on Saturday, August 19th. Wedbush reissued an outperform rating and set a $66.00 price target on shares of Blueprint Medicines Corporation in a report on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a buy rating and issued a $56.00 target price on shares of Blueprint Medicines Corporation in a report on Tuesday, September 5th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $79.00 target price (up from $64.00) on shares of Blueprint Medicines Corporation in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. Blueprint Medicines Corporation has an average rating of Buy and a consensus price target of $70.47.

Blueprint Medicines Corporation (NASDAQ:BPMC) opened at $67.03 on Wednesday. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.02. Blueprint Medicines Corporation has a 52-week low of $25.08 and a 52-week high of $74.42.

Blueprint Medicines Corporation (NASDAQ:BPMC) last released its earnings results 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 company had revenue of $8.07 million for the quarter, compared to analysts’ expectations of $5.35 million. Blueprint Medicines Corporation had a negative net margin of 437.83% and a negative return on equity of 43.11%. Blueprint Medicines Corporation’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.62) earnings per share. analysts anticipate that Blueprint Medicines Corporation will post -3.74 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece was originally reported by BBNS and is owned by of BBNS. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://baseballnewssource.com/markets/blueprint-medicines-corporation-bpmc-receives-buy-rating-from-canaccord-genuity/1749082.html.

In related news, Director Daniel Lynch sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 209,342 shares in the company, valued at $12,560,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony L. Boral sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.40, for a total value of $352,000.00. The disclosure for this sale can be found here. Insiders have sold 54,305 shares of company stock valued at $3,671,782 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC purchased a new stake in Blueprint Medicines Corporation during the second quarter worth $28,375,000. Bank of America Corp DE increased its position in shares of Blueprint Medicines Corporation by 105.0% during the first quarter. Bank of America Corp DE now owns 8,090 shares of the biotechnology company’s stock worth $324,000 after purchasing an additional 4,144 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in shares of Blueprint Medicines Corporation during the second quarter worth $1,368,000. Wells Fargo & Company MN increased its position in shares of Blueprint Medicines Corporation 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 purchasing an additional 6,899 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Blueprint Medicines Corporation by 62.6% during the second quarter. Rhumbline Advisers now owns 43,704 shares of the biotechnology company’s stock worth $2,214,000 after purchasing an additional 16,825 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Blueprint Medicines Corporation 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 Corporation (NASDAQ:BPMC)

Receive News & Ratings for Blueprint Medicines Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot
Angels Sign Former Prospect with Braves Kevin Maitan
Angels Sign Former Prospect with Braves Kevin Maitan
Shohei Ohtani Has Turned Down Red Sox and Yankees
Shohei Ohtani Has Turned Down Red Sox and Yankees


Leave a Reply

 
© 2006-2017 BBNS.