Blueprint Medicines Corporation (NASDAQ:BPMC)‘s stock had its “buy” rating reiterated by equities research analysts at Cowen and Company in a research note issued on Tuesday.

The analysts wrote, “Blueprint reported a Q3 net loss of $38MM and ended the quarter with $391MM in.””

A number of other brokerages have also recently commented on BPMC. DA Davidson started coverage on Blueprint Medicines Corporation in a research note on Friday, September 29th. They issued a “buy” rating and a $90.00 price target for the company. Zacks Investment Research lowered Blueprint Medicines Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Canaccord Genuity raised their target price on Blueprint Medicines Corporation from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, September 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $79.00 target price (up from $64.00) on shares of Blueprint Medicines Corporation in a research report on Wednesday, September 20th. Finally, BTIG Research started coverage on Blueprint Medicines Corporation in a research report on Friday, September 29th. They set a “buy” rating and a $90.00 target price for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $67.13.

Shares of Blueprint Medicines Corporation (NASDAQ BPMC) traded down 4.35% during mid-day trading on Tuesday, reaching $65.55. The company had a trading volume of 324,560 shares. The stock’s market capitalization is $2.56 billion. Blueprint Medicines Corporation has a 12-month low of $25.08 and a 12-month high of $73.05. The firm’s 50 day moving average is $64.15 and its 200-day moving average is $51.12.

Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.08). Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. The firm had revenue of $8.07 million during the quarter, compared to the consensus estimate of $5.35 million. During the same quarter in the previous year, the company posted ($0.62) earnings per share. The firm’s revenue was up 31.0% on a year-over-year basis. On average, analysts expect that Blueprint Medicines Corporation will post ($3.66) earnings per share for the current fiscal year.

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In other news, insider Anthony L. Boral sold 5,000 shares of Blueprint Medicines Corporation stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $48.60, for a total value of $243,000.00. Following the completion of the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $243,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $49.08, for a total value of $981,600.00. Following the completion of the transaction, the chief executive officer now directly owns 18,272 shares of the company’s stock, valued at $896,789.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,305 shares of company stock valued at $3,606,782. 3.40% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of BPMC. BlackRock Inc. grew its stake in shares of Blueprint Medicines Corporation by 39.6% in the 2nd quarter. BlackRock Inc. now owns 2,864,255 shares of the biotechnology company’s stock valued at $145,131,000 after buying an additional 811,820 shares during the period. State Street Corp grew its stake in shares of Blueprint Medicines Corporation by 76.8% in the 2nd quarter. State Street Corp now owns 1,400,035 shares of the biotechnology company’s stock valued at $70,936,000 after buying an additional 608,296 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Blueprint Medicines Corporation in the 2nd quarter valued at about $28,375,000. FMR LLC grew its stake in shares of Blueprint Medicines Corporation by 10.8% in the 2nd quarter. FMR LLC now owns 5,300,589 shares of the biotechnology company’s stock valued at $268,581,000 after buying an additional 516,835 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Blueprint Medicines Corporation by 34.5% in the 1st 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. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Blueprint Medicines Corporation (NASDAQ:BPMC)

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