Blueprint Medicines (NASDAQ:BPMC) was upgraded by Raymond James from a “market perform” rating to an “outperform” rating in a report released on Thursday, Briefing.com Automated Import reports.
A number of other equities research analysts have also recently weighed in on the company. BidaskClub cut Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. ValuEngine raised Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Thursday, May 23rd. Robert W. Baird began coverage on Blueprint Medicines in a research note on Thursday, July 18th. They issued an “outperform” rating and a $120.00 price objective for the company. Finally, Zacks Investment Research cut Blueprint Medicines from a “buy” rating to a “sell” rating and set a $94.00 price objective for the company. in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $107.60.
BPMC stock opened at $76.82 on Thursday. The business has a fifty day moving average of $84.83 and a two-hundred day moving average of $84.70. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -14.25 and a beta of 1.64. Blueprint Medicines has a 52-week low of $44.58 and a 52-week high of $102.98.
Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.92) by ($0.12). The business had revenue of $5.11 million for the quarter, compared to analyst estimates of $1.39 million. Blueprint Medicines had a negative return on equity of 73.73% and a negative net margin of 4,268.74%. Blueprint Medicines’s revenue was down 87.7% compared to the same quarter last year. During the same period last year, the business earned ($0.62) EPS. As a group, sell-side analysts anticipate that Blueprint Medicines will post -8.44 EPS for the current year.
In related news, insider Ariel Hurley sold 415 shares of Blueprint Medicines stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $84.02, for a total value of $34,868.30. Following the completion of the transaction, the insider now directly owns 415 shares in the company, valued at $34,868.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexis Borisy sold 21,818 shares of Blueprint Medicines stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $92.01, for a total value of $2,007,474.18. The disclosure for this sale can be found here. Insiders sold 106,155 shares of company stock valued at $9,511,402 over the last ninety days. Insiders own 4.02% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Blueprint Medicines by 5.3% in the first quarter. FMR LLC now owns 6,939,294 shares of the biotechnology company’s stock valued at $555,491,000 after purchasing an additional 346,738 shares during the period. Vanguard Group Inc. boosted its holdings in Blueprint Medicines by 8.1% in the second quarter. Vanguard Group Inc. now owns 4,281,362 shares of the biotechnology company’s stock valued at $403,861,000 after purchasing an additional 321,857 shares during the period. BlackRock Inc. boosted its holdings in Blueprint Medicines by 20.9% in the second quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock valued at $387,621,000 after purchasing an additional 710,147 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Blueprint Medicines by 9.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,681,291 shares of the biotechnology company’s stock valued at $347,256,000 after purchasing an additional 305,682 shares during the period. Finally, Invesco Ltd. boosted its holdings in Blueprint Medicines by 19,169.3% in the second quarter. Invesco Ltd. now owns 1,801,102 shares of the biotechnology company’s stock valued at $169,897,000 after purchasing an additional 1,791,755 shares during the period.
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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