Zacks Investment Research Upgrades Blueprint Medicines Corp. (BPMC) to Hold
Blueprint Medicines Corp. (NASDAQ:BPMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
BPMC has been the subject of a number of other reports. 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. TheStreet upgraded shares of Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Cowen and Company restated a “buy” rating on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Finally, Canaccord Genuity began coverage on shares of Blueprint Medicines Corp. in a report on Friday, August 5th. They set a “buy” rating and a $26.00 target price for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Blueprint Medicines Corp. 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 up 3.81% during mid-day trading on Tuesday, hitting $30.00. 378,946 shares of the stock traded hands. Blueprint Medicines Corp. has a 52 week low of $13.04 and a 52 week high of $30.90. The stock has a 50-day moving average of $28.15 and a 200-day moving average of $22.05. The company’s market cap is $816.81 million.
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 Zacks’ consensus estimate of ($0.73) by $0.03. The firm earned $7.07 million during the quarter, compared to analysts’ expectations 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 posted ($0.81) earnings per share. Analysts anticipate that Blueprint Medicines Corp. will post ($3.05) EPS for the current year.
In other Blueprint Medicines Corp. news, CEO Jeffrey W. Albers sold 17,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $22.86, for a total value of $388,620.00. Following the completion of the sale, the chief executive officer now owns 76,494 shares in the company, valued at approximately $1,748,652.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel Lynch sold 21,800 shares of the stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $30.02, for a total transaction of $654,436.00. The disclosure for this sale can be found here. 3.93% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BPMC. JPMorgan Chase & Co. increased its position in Blueprint Medicines Corp. by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 80,175 shares of the company’s stock worth $1,447,000 after buying an additional 925 shares in the last quarter. Redmile Group LLC increased its position in 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 in the last quarter. ProShare Advisors LLC increased its position in Blueprint Medicines Corp. by 7.2% in the second quarter. ProShare Advisors LLC now owns 22,726 shares of the company’s stock worth $460,000 after buying an additional 1,520 shares in the last quarter. Alliancebernstein L.P. increased its position in Blueprint Medicines Corp. by 10.4% in the second quarter. Alliancebernstein L.P. now owns 18,100 shares of the company’s stock worth $367,000 after buying an additional 1,700 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Blueprint Medicines Corp. by 7.7% in the second quarter. Mackenzie Financial Corp now owns 23,800 shares of the company’s stock worth $482,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 73.65% of the company’s stock.
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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