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 research note issued on Friday. The firm currently has a $31.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 11.75% from the stock’s current price.
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 research reports. Wedbush reiterated an “outperform” rating and issued a $41.00 price target on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. TheStreet raised Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Cowen and Company reissued a “buy” rating on shares of Blueprint Medicines Corp. in a research note on Tuesday, August 9th. Finally, Canaccord Genuity began coverage on Blueprint Medicines Corp. in a research note on Friday, August 5th. They issued a “buy” rating and a $26.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Blueprint Medicines Corp. presently has a consensus rating of “Buy” and a consensus target price of $30.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/blueprint-medicines-corp-bpmc-stock-rating-upgraded-by-zacks-investment-research.html
Shares of Blueprint Medicines Corp. (NASDAQ:BPMC) traded up 3.58% on Friday, hitting $27.74. The stock had a trading volume of 130,508 shares. The company’s market capitalization is $755.28 million. The company has a 50-day moving average of $27.89 and a 200 day moving average of $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 announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.03. The business had revenue of $7.07 million for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 163.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.81) earnings per share. On average, equities research analysts predict that Blueprint Medicines Corp. will post ($3.05) EPS for the current year.
In related news, CEO Jeffrey W. Albers sold 17,000 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $22.86, for a total transaction of $388,620.00. Following the completion of the sale, the chief executive officer now directly owns 76,494 shares of the company’s stock, valued at $1,748,652.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.93% of the company’s stock.
Several hedge funds have recently modified their holdings of BPMC. Schwab Charles Investment Management Inc. increased its stake in shares of 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 worth $888,000 after buying an additional 18,320 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Blueprint Medicines Corp. during the second quarter worth approximately $455,000. Redmile Group LLC increased its stake in shares of Blueprint Medicines Corp. by 4.8% in the second quarter. Redmile Group LLC now owns 28,353 shares of the company’s stock worth $574,000 after buying an additional 1,298 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of 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 worth $315,000 after buying an additional 7,281 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Blueprint Medicines Corp. during the second quarter worth approximately $973,000. 73.65% of the stock is owned by 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Blueprint Medicines Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines Corp. and related companies with MarketBeat.com's FREE daily email newsletter.