Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “hold” rating restated by Piper Jaffray Companies in a note issued to investors on Monday, TipRanks reports.
Other research analysts have also issued research reports about the company. Robert W. Baird started coverage on Blueprint Medicines in a research report on Thursday, July 18th. They set an “outperform” rating and a $120.00 price target for the company. Canaccord Genuity raised their price target on Blueprint Medicines from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Raymond James reissued a “market perform” rating on shares of Blueprint Medicines in a report on Wednesday, August 14th. Zacks Investment Research cut shares of Blueprint Medicines from a “buy” rating to a “sell” rating and set a $94.00 price objective on the stock. in a research note on Wednesday, August 7th. Finally, ValuEngine raised shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $107.60.
Shares of BPMC traded up $3.92 during mid-day trading on Monday, reaching $76.82. 418,420 shares of the company’s stock traded hands, compared to its average volume of 461,936. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52. The business’s 50-day moving average price is $85.34 and its 200-day moving average price is $84.70. The stock has a market capitalization of $3.59 billion, a P/E ratio of -14.25 and a beta of 1.64. Blueprint Medicines has a 12 month low of $44.58 and a 12 month high of $102.98.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.92) by ($0.12). Blueprint Medicines had a negative return on equity of 73.73% and a negative net margin of 4,268.74%. The business had revenue of $5.11 million during the quarter, compared to the consensus estimate of $1.39 million. During the same period last year, the company earned ($0.62) earnings per share. The business’s quarterly revenue was down 87.7% compared to the same quarter last year. Equities research analysts anticipate that Blueprint Medicines will post -8.44 EPS for the current year.
In other Blueprint Medicines news, insider Ariel Hurley sold 2,733 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $88.04, for a total value of $240,613.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anthony L. Boral sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $80.07, for a total transaction of $800,700.00. Following the completion of the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at $104,091. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,888 shares of company stock valued at $9,752,015. 4.02% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new stake in Blueprint Medicines during the second quarter valued at approximately $1,209,000. BlackRock Inc. boosted its holdings in Blueprint Medicines by 20.9% during the second quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock worth $387,621,000 after buying an additional 710,147 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in Blueprint Medicines by 21.6% during the second quarter. Chartwell Investment Partners LLC now owns 23,775 shares of the biotechnology company’s stock worth $2,243,000 after buying an additional 4,219 shares in the last quarter. International Biotechnology Trust PLC acquired a new position in Blueprint Medicines in the second quarter worth approximately $1,604,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in Blueprint Medicines by 62.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock worth $104,000 after buying an additional 423 shares during the last quarter.
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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