Blueprint Medicines Corp. (BPMC) Downgraded by Zacks Investment Research to Sell
Blueprint Medicines Corp. (NASDAQ:BPMC) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued on Tuesday.
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. “
A number of other equities analysts also recently commented on BPMC. TheStreet raised shares of Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Canaccord Genuity started coverage on shares of Blueprint Medicines Corp. in a report on Friday, August 5th. They set a “buy” rating and a $26.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $41.00 price objective on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.00.
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Shares of Blueprint Medicines Corp. (NASDAQ:BPMC) traded down 2.42% on Tuesday, hitting $27.87. The stock had a trading volume of 73,808 shares. Blueprint Medicines Corp. has a 52 week low of $13.04 and a 52 week high of $29.90. The firm has a 50 day moving average price of $27.96 and a 200-day moving average price of $21.66. The company’s market cap is $758.82 million.
Blueprint Medicines Corp. (NASDAQ:BPMC) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.03. The company earned $7.07 million during the quarter, compared to the consensus estimate of $4.41 million. Blueprint Medicines Corp. had a negative net margin of 284.85% and a negative return on equity of 46.01%. The firm’s revenue for the quarter was up 163.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.81) EPS. Analysts anticipate 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 Blueprint Medicines Corp. stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $22.86, for a total transaction of $388,620.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494 shares of the company’s stock, valued at approximately $1,748,652.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.93% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD increased its position in shares of Blueprint Medicines Corp. by 160.8% in the second quarter. BlackRock Group LTD now owns 6,992 shares of the company’s stock worth $141,000 after buying an additional 4,311 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Blueprint Medicines Corp. by 96.1% in the second quarter. BlackRock Advisors LLC now owns 8,245 shares of the company’s stock worth $167,000 after buying an additional 4,040 shares in the last quarter. American International Group Inc. increased its position in shares of Blueprint Medicines Corp. by 110.0% in the second quarter. American International Group Inc. now owns 11,520 shares of the company’s stock worth $233,000 after buying an additional 6,034 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Blueprint Medicines Corp. by 114.0% in the second quarter. Nationwide Fund Advisors now owns 12,969 shares of the company’s stock worth $263,000 after buying an additional 6,909 shares in the last quarter. Finally, Fernwood Investment Management LLC bought a new position in shares of Blueprint Medicines Corp. during the second quarter worth $285,000. 73.65% of the stock is 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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