Blueprint Medicines Corp (NASDAQ:BPMC)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity in a research note issued to investors on Wednesday, The Fly reports. They currently have a $80.00 target price on the biotechnology company’s stock, up from their prior target price of $66.00. Canaccord Genuity’s price target points to a potential upside of 20.45% from the company’s previous close.

BPMC has been the subject of several other research reports. Jefferies Group LLC reissued a “buy” rating and issued a $56.00 price objective on shares of Blueprint Medicines Corp in a research note on Tuesday, September 5th. Morgan Stanley raised their price objective on shares of Blueprint Medicines Corp from $45.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 23rd. Wedbush reissued an “outperform” rating and issued a $66.00 price objective on shares of Blueprint Medicines Corp in a research note on Tuesday, August 22nd. Cowen and Company reissued a “buy” rating on shares of Blueprint Medicines Corp in a research note on Tuesday. Finally, Zacks Investment Research lowered shares of Blueprint Medicines Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $68.69.

Shares of Blueprint Medicines Corp (BPMC) opened at 66.42 on Wednesday. The company’s market cap is $2.60 billion. The stock has a 50 day moving average of $64.64 and a 200 day moving average of $51.23. Blueprint Medicines Corp has a 12-month low of $25.08 and a 12-month high of $73.05.

Blueprint Medicines Corp (NASDAQ:BPMC) last posted its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.08). Blueprint Medicines Corp had a negative net margin of 567.27% and a negative return on equity of 47.67%. The business had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $5.35 million. During the same period in the previous year, the business posted ($0.62) EPS. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. Analysts forecast that Blueprint Medicines Corp will post ($3.66) earnings per share for the current year.

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In related news, insider Kate Haviland sold 5,449 shares of Blueprint Medicines Corp stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $66.44, for a total value of $362,031.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines Corp stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $49.08, for a total transaction of $981,600.00. Following the completion of the transaction, the chief executive officer now owns 18,272 shares of the company’s stock, valued at approximately $896,789.76. The disclosure for this sale can be found here. Insiders sold 69,305 shares of company stock valued at $3,606,782 in the last quarter. 3.40% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Pictet Asset Management Ltd. lifted its stake in Blueprint Medicines Corp by 103.7% in the third quarter. Pictet Asset Management Ltd. now owns 603,942 shares of the biotechnology company’s stock worth $42,077,000 after acquiring an additional 307,504 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Blueprint Medicines Corp by 7.5% in the third quarter. Nationwide Fund Advisors now owns 55,392 shares of the biotechnology company’s stock worth $3,859,000 after acquiring an additional 3,858 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in Blueprint Medicines Corp in the third quarter worth approximately $160,000. Paulson & CO. Inc. purchased a new position in Blueprint Medicines Corp in the second quarter worth approximately $3,334,000. Finally, Lord Abbett & CO. LLC lifted its stake in Blueprint Medicines Corp by 0.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,729,169 shares of the biotechnology company’s stock worth $87,617,000 after acquiring an additional 8,903 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Blueprint Medicines Corp 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.

The Fly

Analyst Recommendations for Blueprint Medicines Corp (NASDAQ:BPMC)

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