Blueprint Medicines Corp. (BPMC) Stock Rating Upgraded by Zacks Investment Research
Blueprint Medicines Corp. (NASDAQ:BPMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $31.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.75% from the stock’s previous close.
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 a number of other research reports. Cowen and Company reissued a “buy” rating on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Canaccord Genuity initiated coverage on Blueprint Medicines Corp. in a report on Friday, August 5th. They set a “buy” rating and a $26.00 price objective on the stock. TheStreet raised Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Finally, Wedbush reissued an “outperform” rating and set a $41.00 price objective on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Blueprint Medicines Corp. currently has an average rating of “Buy” and a consensus price target of $30.00.
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Blueprint Medicines Corp. (NASDAQ:BPMC) traded up 3.58% during mid-day trading on Friday, hitting $27.74. The stock had a trading volume of 130,508 shares. The firm’s market cap is $755.28 million. The company’s 50 day moving average price is $27.89 and its 200 day moving average price is $21.42. Blueprint Medicines Corp. has a 52 week low of $13.04 and a 52 week high of $29.90.
Blueprint Medicines Corp. (NASDAQ:BPMC) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.03. The business had revenue of $7.07 million for the quarter, compared to analysts’ expectations of $4.41 million. Blueprint Medicines Corp. had a negative return on equity of 46.01% and a negative net margin of 284.85%. The firm’s quarterly revenue was up 163.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.81) EPS. Analysts anticipate that Blueprint Medicines Corp. will post ($3.05) earnings per share for the current year.
In other Blueprint Medicines Corp. news, CEO Jeffrey W. Albers sold 17,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $22.86, for a total value of $388,620.00. Following the sale, the chief executive officer now owns 76,494 shares of the company’s stock, valued at approximately $1,748,652.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.93% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in BPMC. Schwab Charles Investment Management Inc. boosted its stake in Blueprint Medicines Corp. by 71.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 43,823 shares of the company’s stock valued at $888,000 after buying an additional 18,320 shares during the last quarter. American Century Companies Inc. acquired a new stake in Blueprint Medicines Corp. during the second quarter valued at $455,000. Redmile Group LLC boosted its stake in Blueprint Medicines Corp. by 4.8% in the second quarter. Redmile Group LLC now owns 28,353 shares of the company’s stock valued at $574,000 after buying an additional 1,298 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Blueprint Medicines Corp. by 87.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,566 shares of the company’s stock valued at $315,000 after buying an additional 7,281 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in Blueprint Medicines Corp. during the second quarter valued at $973,000. 73.65% of the stock is currently owned by hedge funds and other institutional investors.
Blueprint Medicines Corp. Company Profile
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. The Company focuses on crafting drug candidates with therapeutic windows that provide clinical responses to patients without adequate treatment options.
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