Blueprint Medicines Corp. (BPMC) Raised to “Hold” at Zacks Investment Research
Blueprint Medicines Corp. (NASDAQ:BPMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” 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. “
Other research analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and set a $41.00 target price on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Canaccord Genuity assumed coverage on Blueprint Medicines Corp. in a report on Friday, August 5th. They set a “buy” rating and a $26.00 target price on the stock. TheStreet upgraded Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Finally, Cowen and Company reiterated a “buy” rating on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $30.00.
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Blueprint Medicines Corp. (NASDAQ:BPMC) traded up 3.81% on Tuesday, reaching $30.00. The company’s stock had a trading volume of 378,946 shares. The firm’s market capitalization is $816.81 million. The company has a 50 day moving average of $28.15 and a 200 day moving average of $22.05. Blueprint Medicines Corp. has a 52 week low of $13.04 and a 52 week high of $30.90.
Blueprint Medicines Corp. (NASDAQ:BPMC) last issued its earnings results on Tuesday, August 9th. The company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business’s revenue for the quarter was up 163.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.81) EPS. On average, analysts forecast 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 business’s stock in a transaction that occurred on 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 $1,748,652.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 21,800 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $30.02, for a total value of $654,436.00. The disclosure for this sale can be found here. 3.93% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised 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. purchased a new stake in shares of Blueprint Medicines Corp. during the second quarter worth about $455,000. Redmile Group LLC raised 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 raised 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. purchased a new stake in shares of Blueprint Medicines Corp. during the second quarter worth about $973,000. 73.65% of the stock is currently 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.
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