Blueprint Medicines Corporation (BPMC) Given Consensus Rating of “Buy” by Brokerages
Blueprint Medicines Corporation (NASDAQ:BPMC) has received a consensus rating of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $67.25.
A number of equities research analysts have recently issued reports on BPMC shares. DA Davidson initiated coverage on Blueprint Medicines Corporation in a research note on Friday, September 29th. They issued a “buy” rating and a $90.00 target price for the company. BTIG Research began coverage on Blueprint Medicines Corporation in a research report on Friday, September 29th. They set a “buy” rating and a $90.00 price target on the stock. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $79.00 price target (up from $64.00) on shares of Blueprint Medicines Corporation in a research report on Wednesday, September 20th. Canaccord Genuity upped their price target on Blueprint Medicines Corporation from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, September 20th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $56.00 price target on shares of Blueprint Medicines Corporation in a report on Tuesday, September 5th.
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In related news, insider Anthony L. Boral sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $48.60, for a total value of $243,000.00. Following the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at $243,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Lynch sold 2,500 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now directly owns 209,342 shares in the company, valued at $12,560,520. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,856 shares of company stock valued at $3,244,751. 3.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BPMC. Teachers Advisors LLC grew its holdings in Blueprint Medicines Corporation by 2.7% during the 4th quarter. Teachers Advisors LLC now owns 32,932 shares of the biotechnology company’s stock worth $924,000 after acquiring an additional 881 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Blueprint Medicines Corporation by 76.0% in the 1st quarter. Nationwide Fund Advisors now owns 21,792 shares of the biotechnology company’s stock worth $871,000 after purchasing an additional 9,410 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Blueprint Medicines Corporation by 40.2% in the 1st quarter. Wells Fargo & Company MN now owns 21,928 shares of the biotechnology company’s stock worth $877,000 after purchasing an additional 6,286 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Blueprint Medicines Corporation by 29.0% in the 1st quarter. Bank of New York Mellon Corp now owns 120,568 shares of the biotechnology company’s stock valued at $4,822,000 after purchasing an additional 27,095 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Blueprint Medicines Corporation by 12.1% in the 1st quarter. Swiss National Bank now owns 46,300 shares of the biotechnology company’s stock valued at $1,852,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 90.71% of the company’s stock.
Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) opened at 70.18 on Wednesday. The stock’s 50 day moving average price is $55.65 and its 200-day moving average price is $47.80. The stock’s market cap is $2.75 billion. Blueprint Medicines Corporation has a 52-week low of $25.08 and a 52-week high of $71.67.
Blueprint Medicines Corporation (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.86) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.11). The company had revenue of $5.89 million for the quarter, compared to analyst estimates of $5.96 million. Blueprint Medicines Corporation had a negative return on equity of 45.58% and a negative net margin of 388.91%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.70) EPS. On average, analysts predict that Blueprint Medicines Corporation will post ($3.59) earnings per share for the current fiscal year.
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.
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