Blueprint Medicines Corporation (NASDAQ:BPMC) – Wedbush dropped their Q3 2017 EPS estimates for shares of Blueprint Medicines Corporation in a report released on Wednesday. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will post earnings per share of ($0.90) for the quarter, down from their previous forecast of ($0.77). Wedbush has a “Outperform” rating and a $55.00 price objective on the stock. Wedbush also issued estimates for Blueprint Medicines Corporation’s Q4 2017 earnings at ($0.92) EPS, FY2017 earnings at ($3.52) EPS, FY2018 earnings at ($4.37) EPS, FY2019 earnings at ($4.78) EPS, FY2020 earnings at ($4.51) EPS and FY2021 earnings at ($3.26) EPS.

Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.11. The business had revenue of $5.89 million during the quarter, compared to the consensus estimate of $5.96 million. Blueprint Medicines Corporation had a negative return on equity of 45.58% and a negative net margin of 388.91%. Blueprint Medicines Corporation’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.70) earnings per share. ILLEGAL ACTIVITY WARNING: “Wedbush Analysts Lower Earnings Estimates for Blueprint Medicines Corporation (NASDAQ:BPMC)” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/07/wedbush-analysts-lower-earnings-estimates-for-blueprint-medicines-corporation-nasdaqbpmc.html.

Several other brokerages also recently commented on BPMC. Zacks Investment Research upgraded Blueprint Medicines Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub upgraded Blueprint Medicines Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Canaccord Genuity set a $56.00 price objective on Blueprint Medicines Corporation and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC boosted their price objective on Blueprint Medicines Corporation from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, TheStreet downgraded Blueprint Medicines Corporation from a “c-” rating to a “d+” rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Blueprint Medicines Corporation has a consensus rating of “Buy” and a consensus price target of $47.90.

Blueprint Medicines Corporation (NASDAQ:BPMC) opened at 48.66 on Monday. The firm has a 50-day moving average price of $50.35 and a 200-day moving average price of $41.89. The company’s market capitalization is $1.62 billion. Blueprint Medicines Corporation has a 52 week low of $21.97 and a 52 week high of $56.81.

In other news, insider Kate Haviland sold 6,357 shares of Blueprint Medicines Corporation stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $50.00, for a total value of $317,850.00. Following the sale, the insider now directly owns 6,357 shares of the company’s stock, valued at $317,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Lynch sold 32,500 shares of Blueprint Medicines Corporation stock in a transaction dated 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 sold 73,622 shares of company stock worth $3,771,405 over the last ninety days. Insiders own 3.40% of the company’s stock.

Several large investors have recently modified their holdings of BPMC. FMR LLC boosted its stake in shares of Blueprint Medicines Corporation by 23.4% in the first quarter. FMR LLC now owns 4,783,754 shares of the biotechnology company’s stock valued at $191,302,000 after buying an additional 905,614 shares during the period. Wellington Management Group LLP boosted its stake in shares of Blueprint Medicines Corporation by 200.4% in the first quarter. Wellington Management Group LLP now owns 3,821,584 shares of the biotechnology company’s stock valued at $152,826,000 after buying an additional 2,549,623 shares during the period. Vanguard Group Inc. boosted its stake in shares of Blueprint Medicines Corporation by 34.5% in the first quarter. Vanguard Group Inc. now owns 1,220,446 shares of the biotechnology company’s stock valued at $48,806,000 after buying an additional 313,181 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Blueprint Medicines Corporation by 3,543.1% in the first quarter. Alliancebernstein L.P. now owns 972,699 shares of the biotechnology company’s stock valued at $38,898,000 after buying an additional 945,999 shares during the period. Finally, State Street Corp boosted its stake in shares of Blueprint Medicines Corporation by 16.1% in the first quarter. State Street Corp now owns 791,739 shares of the biotechnology company’s stock valued at $31,663,000 after buying an additional 109,848 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

About Blueprint Medicines Corporation

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.

Earnings History and Estimates for Blueprint Medicines Corporation (NASDAQ:BPMC)

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