Zacks Investment Research upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a sell rating to a hold rating in a research report report published on Wednesday.
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 a number of other research reports. BidaskClub downgraded shares of Blueprint Medicines from a hold rating to a sell rating in a research report on Tuesday, October 9th. ValuEngine cut shares of Blueprint Medicines from a strong-buy rating to a buy rating in a research note on Wednesday, January 2nd. Wedbush reiterated an outperform rating and set a $103.00 price target on shares of Blueprint Medicines in a research note on Monday, January 7th. Cowen reiterated a buy rating on shares of Blueprint Medicines in a research note on Thursday, November 15th. Finally, Leerink Swann initiated coverage on shares of Blueprint Medicines in a research note on Tuesday, September 25th. They set an outperform rating and a $105.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $100.20.
NASDAQ:BPMC traded up $0.16 during trading hours on Wednesday, reaching $64.43. The company had a trading volume of 254,306 shares, compared to its average volume of 446,763. The company has a current ratio of 10.05, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Blueprint Medicines has a 52 week low of $44.58 and a 52 week high of $109.00. The company has a market cap of $2.70 billion, a PE ratio of -16.44 and a beta of 1.34.
Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Tuesday, October 30th. The biotechnology company reported ($1.66) EPS for the quarter, missing analysts’ consensus estimates of ($1.57) by ($0.09). Blueprint Medicines had a negative return on equity of 36.72% and a negative net margin of 455.15%. The company had revenue of $1.10 million during the quarter, compared to the consensus estimate of $1.87 million. During the same period last year, the firm posted ($0.96) EPS. The company’s revenue for the quarter was down 86.4% on a year-over-year basis. Research analysts forecast that Blueprint Medicines will post -5.25 earnings per share for the current year.
In other news, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines stock in a transaction on Monday, November 5th. The shares were sold at an average price of $63.49, for a total transaction of $1,269,800.00. Following the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $1,269,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.15% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its stake in shares of Blueprint Medicines by 3.1% during the 3rd quarter. Vanguard Group Inc now owns 3,735,390 shares of the biotechnology company’s stock valued at $291,584,000 after buying an additional 111,972 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Blueprint Medicines during the 3rd quarter valued at $2,331,000. Marshall Wace LLP purchased a new position in shares of Blueprint Medicines during the 3rd quarter valued at $11,579,000. Vanguard Group Inc. lifted its stake in shares of Blueprint Medicines by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,735,390 shares of the biotechnology company’s stock valued at $291,584,000 after buying an additional 111,972 shares in the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of Blueprint Medicines by 2.6% during the 3rd quarter. Teachers Advisors LLC now owns 182,797 shares of the biotechnology company’s stock valued at $14,269,000 after buying an additional 4,600 shares in the last quarter.
Blueprint Medicines Company Profile
Blueprint Medicines Corporation, a biopharmaceutical company, 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 is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; 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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