Q2 2017 EPS Estimates for Blueprint Medicines Corp (BPMC) Boosted by Jefferies Group
Blueprint Medicines Corp (NASDAQ:BPMC) – Research analysts at Jefferies Group boosted their Q2 2017 earnings estimates for shares of Blueprint Medicines Corp in a note issued to investors on Wednesday. Jefferies Group analyst C. Augustine now anticipates that the biotechnology company will post earnings of ($0.75) per share for the quarter, up from their previous estimate of ($0.79). Jefferies Group currently has a “Buy” rating and a $52.00 target price on the stock. Jefferies Group also issued estimates for Blueprint Medicines Corp’s Q3 2017 earnings at ($0.78) EPS, Q4 2017 earnings at ($0.80) EPS, FY2017 earnings at ($3.17) EPS, FY2018 earnings at ($3.59) EPS, FY2019 earnings at ($4.17) EPS, FY2020 earnings at ($4.48) EPS and FY2021 earnings at ($2.19) EPS.
Blueprint Medicines Corp (NASDAQ:BPMC) last issued its earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.84) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by $0.11. The firm earned $5.84 million during the quarter, compared to the consensus estimate of $6.02 million. Blueprint Medicines Corp had a negative net margin of 270.30% and a negative return on equity of 55.22%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.57) earnings per share.
BPMC has been the topic of a number of other reports. JMP Securities assumed coverage on Blueprint Medicines Corp in a research note on Wednesday, March 22nd. They issued an “outperform” rating and a $46.00 price target on the stock. Goldman Sachs Group Inc upgraded Blueprint Medicines Corp from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Monday, March 13th. Zacks Investment Research downgraded Blueprint Medicines Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Canaccord Genuity lifted their target price on Blueprint Medicines Corp from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, April 4th. Finally, Wedbush lifted their target price on Blueprint Medicines Corp from $43.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, April 5th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $43.02.
Shares of Blueprint Medicines Corp (NASDAQ:BPMC) opened at 40.53 on Monday. The firm has a 50 day moving average price of $43.70 and a 200 day moving average price of $35.35. Blueprint Medicines Corp has a 52 week low of $13.28 and a 52 week high of $48.85.
In related news, major shareholder Rock Ventures Ii L.P. Third sold 1,000,000 shares of Blueprint Medicines Corp stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $35.28, for a total transaction of $35,280,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Mark J. Levin sold 30,000 shares of Blueprint Medicines Corp stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $40.88, for a total value of $1,226,400.00. Following the transaction, the insider now owns 116,444 shares in the company, valued at $4,760,230.72. The disclosure for this sale can be found here. 3.93% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc. increased its position in Blueprint Medicines Corp by 141.6% in the first quarter. TD Asset Management Inc. now owns 41,654 shares of the biotechnology company’s stock valued at $1,666,000 after buying an additional 24,415 shares during the period. UBS Asset Management Americas Inc. bought a new position in Blueprint Medicines Corp during the first quarter valued at $201,000. Swiss National Bank increased its position in Blueprint Medicines Corp by 12.1% in the first quarter. Swiss National Bank now owns 46,300 shares of the biotechnology company’s stock valued at $1,852,000 after buying an additional 5,000 shares during the period. Bank of New York Mellon Corp increased its position in Blueprint Medicines Corp by 29.0% in the first quarter. Bank of New York Mellon Corp now owns 120,568 shares of the biotechnology company’s stock valued at $4,822,000 after buying an additional 27,095 shares during the period. Finally, Henderson Group PLC bought a new position in Blueprint Medicines Corp during the first quarter valued at $1,200,000. Institutional investors own 59.51% 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. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.
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