Blueprint Medicines Corp (NASDAQ:BPMC) has received an average recommendation of “Buy” from the sixteen analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $91.17.
BPMC has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Blueprint Medicines from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a research report on Friday, May 22nd. Barclays initiated coverage on Blueprint Medicines in a research report on Monday, May 4th. They issued an “equal weight” rating and a $59.00 price objective on the stock. BMO Capital Markets increased their price objective on Blueprint Medicines from $75.00 to $111.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. ValuEngine downgraded Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $66.00 price objective on shares of Blueprint Medicines in a research report on Thursday, May 7th.
Blueprint Medicines stock opened at $76.55 on Tuesday. Blueprint Medicines has a one year low of $43.29 and a one year high of $102.98. The business has a fifty day moving average price of $69.76 and a 200-day moving average price of $67.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 7.17 and a quick ratio of 7.14. The firm has a market capitalization of $4.10 billion, a P/E ratio of -10.30 and a beta of 1.09.
Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported ($2.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.08) by ($0.03). Blueprint Medicines had a negative return on equity of 65.81% and a negative net margin of 515.98%. The company had revenue of $6.20 million during the quarter, compared to the consensus estimate of $5.57 million. During the same period in the previous year, the business earned ($1.98) earnings per share. Blueprint Medicines’s revenue was up 749.3% on a year-over-year basis. Sell-side analysts expect that Blueprint Medicines will post -8.4 earnings per share for the current fiscal year.
In other news, insider Ariel Hurley sold 700 shares of Blueprint Medicines stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $75.00, for a total value of $52,500.00. Following the transaction, the insider now owns 10,684 shares in the company, valued at $801,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nicholas Lydon sold 13,017 shares of Blueprint Medicines stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $80.29, for a total value of $1,045,134.93. Following the completion of the transaction, the director now owns 89,039 shares in the company, valued at approximately $7,148,941.31. The disclosure for this sale can be found here. Insiders have sold 36,217 shares of company stock worth $2,578,985 in the last 90 days. Company insiders own 3.81% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new position in shares of Blueprint Medicines in the first quarter worth about $255,000. Parametric Portfolio Associates LLC increased its holdings in shares of Blueprint Medicines by 9.0% in the first quarter. Parametric Portfolio Associates LLC now owns 53,548 shares of the biotechnology company’s stock worth $3,131,000 after buying an additional 4,433 shares during the period. Norges Bank purchased a new position in shares of Blueprint Medicines in the fourth quarter worth about $79,919,000. Legal & General Group Plc increased its holdings in shares of Blueprint Medicines by 7.7% in the first quarter. Legal & General Group Plc now owns 35,447 shares of the biotechnology company’s stock worth $2,073,000 after buying an additional 2,545 shares during the period. Finally, Twinbeech Capital LP purchased a new position in shares of Blueprint Medicines in the first quarter worth about $498,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.
Blueprint Medicines Company Profile
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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