Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) have earned an average rating of “Buy” from the ten analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $51.00.

Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Blueprint Medicines Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Canaccord Genuity set a $56.00 target price on shares of Blueprint Medicines Corporation and gave the company a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Blueprint Medicines Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Cowen and Company restated a “buy” rating on shares of Blueprint Medicines Corporation in a research note on Tuesday, June 6th. Finally, Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of Blueprint Medicines Corporation in a research note on Tuesday, June 6th.

Shares of Blueprint Medicines Corporation (NASDAQ BPMC) opened at 45.80 on Tuesday. Blueprint Medicines Corporation has a 52-week low of $23.71 and a 52-week high of $56.81. The stock’s market capitalization is $1.79 billion. The stock’s 50 day moving average is $51.78 and its 200 day moving average is $42.82.

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 the consensus estimate of ($0.75) by $0.11. The firm had revenue of $5.89 million during the quarter, compared to analysts’ expectations of $5.96 million. Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. Blueprint Medicines Corporation’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.70) earnings per share. Equities research analysts expect that Blueprint Medicines Corporation will post ($3.59) earnings per share for the current fiscal year.

In other Blueprint Medicines Corporation news, insider Kate Haviland sold 6,357 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $50.00, for a total transaction of $317,850.00. Following the transaction, the insider now directly owns 6,357 shares in the company, valued at approximately $317,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Lynch sold 7,500 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $55.06, for a total transaction of $412,950.00. Following the transaction, the director now owns 211,842 shares in the company, valued at $11,664,020.52. The disclosure for this sale can be found here. Insiders have sold a total of 128,622 shares of company stock worth $6,484,605 over the last quarter. 3.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Blueprint Medicines Corporation by 10.8% in the second quarter. FMR LLC now owns 5,300,589 shares of the biotechnology company’s stock worth $268,581,000 after buying an additional 516,835 shares during the period. Wellington Management Group LLP increased its position in 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 worth $152,826,000 after buying an additional 2,549,623 shares during the period. BlackRock Inc. increased its position in Blueprint Medicines Corporation by 39.6% in the second quarter. BlackRock Inc. now owns 2,864,255 shares of the biotechnology company’s stock worth $145,131,000 after buying an additional 811,820 shares during the period. Vanguard Group Inc. increased its position in Blueprint Medicines Corporation by 16.0% in the second quarter. Vanguard Group Inc. now owns 1,415,963 shares of the biotechnology company’s stock worth $71,746,000 after buying an additional 195,517 shares during the period. Finally, State Street Corp increased its position in Blueprint Medicines Corporation by 76.8% in the second quarter. State Street Corp now owns 1,400,035 shares of the biotechnology company’s stock worth $70,936,000 after buying an additional 608,296 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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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.

Analyst Recommendations for Blueprint Medicines Corporation (NASDAQ:BPMC)

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