Blueprint Medicines Corporation (NASDAQ:BPMC) Upgraded to Hold at Zacks Investment Research
Blueprint Medicines Corporation (NASDAQ:BPMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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 research analysts have also recently commented on BPMC. BidaskClub upgraded Blueprint Medicines Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Wedbush increased their target price on Blueprint Medicines Corporation from $43.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, April 5th. Canaccord Genuity set a $52.00 target price on Blueprint Medicines Corporation and gave the company a “buy” rating in a report on Tuesday, June 6th. Cowen and Company reiterated a “buy” rating on shares of Blueprint Medicines Corporation in a report on Tuesday, June 6th. Finally, TheStreet cut Blueprint Medicines Corporation from a “c-” rating to a “d+” rating in a report on Wednesday, May 3rd. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.40.
Blueprint Medicines Corporation (NASDAQ:BPMC) traded up 1.28% during trading on Monday, reaching $52.90. The company’s stock had a trading volume of 223,550 shares. The company has a 50 day moving average price of $40.85 and a 200-day moving average price of $37.90. The company’s market capitalization is $1.76 billion. Blueprint Medicines Corporation has a 52 week low of $19.80 and a 52 week high of $56.21.
Blueprint Medicines Corporation (NASDAQ:BPMC) last released its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.73) by $0.11. Blueprint Medicines Corporation had a negative net margin of 317.57% and a negative return on equity of 55.58%. The firm had revenue of $5.84 million during the quarter, compared to analysts’ expectations of $6.02 million. During the same period in the previous year, the business earned ($0.57) earnings per share. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. Equities research analysts anticipate that Blueprint Medicines Corporation will post ($3.32) earnings per share for the current year.
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In other news, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $50.47, for a total transaction of $1,009,400.00. Following the sale, the chief executive officer now owns 47,920 shares in the company, valued at $2,418,522.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Lynch sold 32,500 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $50.28, for a total value of $1,634,100.00. The disclosure for this sale can be found here. Insiders have sold 73,622 shares of company stock worth $3,771,405 in the last 90 days. Insiders own 3.40% of the company’s stock.
Several large investors have recently bought and sold shares of BPMC. Waverton Investment Management Ltd acquired a new stake in Blueprint Medicines Corporation during the second quarter valued at about $633,000. Nuveen Asset Management LLC acquired a new stake in Blueprint Medicines Corporation during the first quarter valued at about $1,045,000. Goldman Sachs Group Inc. boosted its stake in Blueprint Medicines Corporation by 278.9% in the first quarter. Goldman Sachs Group Inc. now owns 353,556 shares of the biotechnology company’s stock valued at $14,139,000 after buying an additional 260,247 shares during the period. Point72 Asset Management L.P. acquired a new stake in Blueprint Medicines Corporation during the first quarter valued at about $4,119,000. Finally, Credit Suisse AG boosted its stake in Blueprint Medicines Corporation by 27.6% in the first quarter. Credit Suisse AG now owns 40,045 shares of the biotechnology company’s stock valued at $1,601,000 after buying an additional 8,650 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.
Blueprint Medicines Corporation 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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