Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “market perform” rating reissued by investment analysts at Raymond James in a report issued on Wednesday, Marketbeat Ratings reports.
Other research analysts have also recently issued research reports about the company. BidaskClub cut Blueprint Medicines from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird initiated coverage on Blueprint Medicines in a research report on Thursday, July 18th. They set an “outperform” rating and a $120.00 price target on the stock. Canaccord Genuity upped their price target on Blueprint Medicines from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Cowen reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Monday, June 17th. Finally, Zacks Investment Research cut Blueprint Medicines from a “buy” rating to a “sell” rating and set a $94.00 price target on the stock. in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $110.11.
Shares of NASDAQ BPMC opened at $81.73 on Wednesday. Blueprint Medicines has a one year low of $44.58 and a one year high of $102.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.52 and a quick ratio of 7.52. The business’s fifty day moving average price is $94.88 and its 200-day moving average price is $84.41. The stock has a market capitalization of $4.21 billion, a PE ratio of -15.16 and a beta of 1.55.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) EPS for the quarter, missing analysts’ consensus estimates of ($1.92) by ($0.12). Blueprint Medicines had a negative net margin of 4,268.74% and a negative return on equity of 73.73%. The firm had revenue of $5.11 million for the quarter, compared to analysts’ expectations of $1.39 million. During the same period in the prior year, the company earned ($0.62) EPS. The firm’s quarterly revenue was down 87.7% on a year-over-year basis. As a group, equities analysts expect that Blueprint Medicines will post -8.45 EPS for the current fiscal year.
In related news, insider Ariel Hurley sold 830 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $94.98, for a total transaction of $78,833.40. Following the sale, the insider now owns 830 shares of the company’s stock, valued at approximately $78,833.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kate Haviland sold 1,571 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $95.47, for a total value of $149,983.37. Following the sale, the chief operating officer now directly owns 17,436 shares in the company, valued at approximately $1,664,614.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,378 shares of company stock worth $10,264,022 in the last three months. 4.02% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in Blueprint Medicines by 5.3% during the 1st quarter. FMR LLC now owns 6,939,294 shares of the biotechnology company’s stock worth $555,491,000 after purchasing an additional 346,738 shares in the last quarter. Vanguard Group Inc. increased its stake in Blueprint Medicines by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,281,362 shares of the biotechnology company’s stock worth $403,861,000 after acquiring an additional 321,857 shares during the last quarter. BlackRock Inc. increased its stake in Blueprint Medicines by 20.9% in the 2nd quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock worth $387,621,000 after acquiring an additional 710,147 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Blueprint Medicines by 9.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,681,291 shares of the biotechnology company’s stock worth $347,256,000 after acquiring an additional 305,682 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Blueprint Medicines by 19,169.3% in the 2nd quarter. Invesco Ltd. now owns 1,801,102 shares of the biotechnology company’s stock worth $169,897,000 after acquiring an additional 1,791,755 shares during the last quarter. 95.25% of the stock is currently owned by institutional investors and hedge funds.
About Blueprint Medicines
Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.
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