Zacks Investment Research Lowers Blueprint Medicines Corp. (BPMC) to Sell
Blueprint Medicines Corp. (NASDAQ:BPMC) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note 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. “
Several other analysts also recently weighed in on the stock. Cowen and Company reiterated a “buy” rating on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Wedbush reiterated an “outperform” rating and issued a $41.00 target price on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Canaccord Genuity assumed coverage on shares of Blueprint Medicines Corp. in a report on Friday, August 5th. They issued a “buy” rating and a $26.00 target price for the company. Finally, TheStreet upgraded shares of Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $30.00.
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Shares of Blueprint Medicines Corp. (NASDAQ:BPMC) traded down 2.42% during trading on Tuesday, hitting $27.87. The stock had a trading volume of 73,808 shares. Blueprint Medicines Corp. has a one year low of $13.04 and a one year high of $29.90. The stock’s market cap is $758.82 million. The stock’s 50 day moving average price is $27.96 and its 200-day moving average price is $21.70.
Blueprint Medicines Corp. (NASDAQ:BPMC) last posted its earnings results on Tuesday, August 9th. The company reported ($0.70) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.03. Blueprint Medicines Corp. had a negative net margin of 284.85% and a negative return on equity of 46.01%. The firm earned $7.07 million during the quarter, compared to the consensus estimate of $4.41 million. During the same quarter last year, the firm earned ($0.81) EPS. The firm’s revenue for the quarter was up 163.0% on a year-over-year basis. Analysts expect that Blueprint Medicines Corp. will post ($3.05) earnings per share for the current fiscal year.
In other news, CEO Jeffrey W. Albers sold 17,000 shares of Blueprint Medicines Corp. stock in a transaction on 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 sale, the chief executive officer now directly owns 76,494 shares of the company’s stock, valued at approximately $1,748,652.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.93% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in BPMC. JPMorgan Chase & Co. boosted its stake in Blueprint Medicines Corp. by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 80,175 shares of the company’s stock valued at $1,447,000 after buying an additional 925 shares during the period. 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 period. ProShare Advisors LLC boosted its stake in Blueprint Medicines Corp. by 7.2% in the second quarter. ProShare Advisors LLC now owns 22,726 shares of the company’s stock valued at $460,000 after buying an additional 1,520 shares during the period. Alliancebernstein L.P. boosted its stake in Blueprint Medicines Corp. by 10.4% in the second quarter. Alliancebernstein L.P. now owns 18,100 shares of the company’s stock valued at $367,000 after buying an additional 1,700 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Blueprint Medicines Corp. by 7.7% in the second quarter. Mackenzie Financial Corp now owns 23,800 shares of the company’s stock valued at $482,000 after buying an additional 1,700 shares during the period. 73.65% of the stock is owned by institutional investors and hedge funds.
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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