Zacks Investment Research Downgrades Blueprint Medicines Corporation (BPMC) to Sell
Blueprint Medicines Corporation (NASDAQ:BPMC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “Blueprint Medicines Corp is an oncology company which is engaged in developing kinase inhibitors for genomically defined cancer subsets. Blueprint Medicines Corp is based in Cambridge, MA. “
BPMC has been the subject of several other reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $56.00 target price on shares of Blueprint Medicines Corporation in a research note on Tuesday, September 5th. Morgan Stanley upped their target price on Blueprint Medicines Corporation from $45.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $66.00 target price on shares of Blueprint Medicines Corporation in a research note on Tuesday, August 22nd. Cowen and Company reaffirmed a “buy” rating on shares of Blueprint Medicines Corporation in a research note on Tuesday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $80.00 target price (up from $66.00) on shares of Blueprint Medicines Corporation in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Blueprint Medicines Corporation has a consensus rating of “Buy” and an average price target of $68.69.
Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.06). The business had revenue of $8.07 million for the quarter, compared to analyst estimates of $5.35 million. Blueprint Medicines Corporation had a negative return on equity of 46.57% and a negative net margin of 437.83%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.62) earnings per share.
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In related news, insider Anthony L. Boral sold 5,000 shares of the stock in a transaction on 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 can be accessed through the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the stock in a transaction on Monday, August 7th. The shares were 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 three months, insiders sold 69,305 shares of company stock valued at $3,606,782. 3.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacad Investment Ltd. acquired a new position in Blueprint Medicines Corporation in the 4th quarter valued at $104,000. Rockefeller Financial Services Inc. purchased a new stake in Blueprint Medicines Corporation in the 3rd quarter valued at $160,000. Ameritas Investment Partners Inc. grew its holdings in Blueprint Medicines Corporation by 68.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 1,391 shares in the last quarter. Verde Servicos Internacionais S.A. purchased a new stake in Blueprint Medicines Corporation in the 1st quarter valued at $199,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Blueprint Medicines Corporation in the 1st quarter valued at $201,000. 90.64% of the stock is 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.
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