Blueprint Medicines (NASDAQ:BPMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $88.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.06% from the stock’s previous close.

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. “

Other analysts also recently issued reports about the company. DA Davidson started coverage on Blueprint Medicines in a research report on Friday, September 29th. They issued a “buy” rating and a $90.00 price objective on the stock. BTIG Research started coverage on Blueprint Medicines in a research report on Friday, September 29th. They issued a “buy” rating and a $90.00 price objective on the stock. Goldman Sachs Group restated a “buy” rating and issued a $79.00 price objective (up from $64.00) on shares of Blueprint Medicines in a research report on Wednesday, September 20th. Canaccord Genuity upped their price objective on Blueprint Medicines from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, September 20th. Finally, Cowen restated a “buy” rating on shares of Blueprint Medicines in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. Blueprint Medicines has a consensus rating of “Buy” and an average target price of $84.20.

Shares of Blueprint Medicines (BPMC) traded up $0.79 during trading hours on Monday, hitting $79.24. The stock had a trading volume of 158,155 shares, compared to its average volume of 386,200. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.28 and a quick ratio of 11.28. Blueprint Medicines has a twelve month low of $31.35 and a twelve month high of $92.00. The stock has a market capitalization of $3,398.03, a P/E ratio of -23.24 and a beta of 1.29.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.06). Blueprint Medicines had a negative net margin of 437.83% and a negative return on equity of 43.11%. The company had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $5.35 million. During the same quarter in the prior year, the company earned ($0.62) earnings per share. The firm’s revenue was up 31.0% compared to the same quarter last year. sell-side analysts forecast that Blueprint Medicines will post -3.75 EPS for the current year.

In related news, insider Marion Dorsch sold 18,334 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $65.45, for a total value of $1,199,960.30. Following the completion of the transaction, the insider now directly owns 18,334 shares in the company, valued at $1,199,960.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony L. Boral sold 5,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.40, for a total value of $352,000.00. The disclosure for this sale can be found here. Insiders sold 58,334 shares of company stock valued at $3,978,160 over the last quarter. Insiders own 3.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Waverton Investment Management Ltd increased its stake in Blueprint Medicines by 18.1% in the fourth quarter. Waverton Investment Management Ltd now owns 14,760 shares of the biotechnology company’s stock valued at $1,113,000 after purchasing an additional 2,260 shares during the last quarter. California Public Employees Retirement System increased its stake in Blueprint Medicines by 48.3% in the third quarter. California Public Employees Retirement System now owns 9,197 shares of the biotechnology company’s stock valued at $641,000 after purchasing an additional 2,997 shares during the last quarter. Jane Street Group LLC acquired a new position in Blueprint Medicines in the third quarter valued at $1,199,000. Cornerstone Capital Management Holdings LLC. acquired a new position in Blueprint Medicines in the third quarter valued at $1,184,000. Finally, Alyeska Investment Group L.P. acquired a new position in Blueprint Medicines in the third quarter valued at $6,967,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.

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About Blueprint Medicines

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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