Blueprint Medicines Corporation (NASDAQ:BPMC)‘s stock had its “buy” rating reissued by Cowen and Company in a research report issued to clients and investors on Tuesday.
The analysts wrote, “Blueprint reported a Q3 net loss of $38MM and ended the quarter with $391MM in.””
BPMC has been the topic of a number of other research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $56.00 price target on shares of Blueprint Medicines Corporation in a report on Tuesday, September 5th. Morgan Stanley lifted their target price on shares of Blueprint Medicines Corporation from $45.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 23rd. Wedbush restated an “outperform” rating and set a $66.00 target price on shares of Blueprint Medicines Corporation in a report on Tuesday, August 22nd. Zacks Investment Research lowered shares of Blueprint Medicines Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, BidaskClub lowered shares of Blueprint Medicines Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Blueprint Medicines Corporation presently has an average rating of “Buy” and a consensus price target of $67.13.
Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) traded down 3.97% during mid-day trading on Tuesday, reaching $65.81. The company’s stock had a trading volume of 315,184 shares. Blueprint Medicines Corporation has a 1-year low of $25.08 and a 1-year high of $73.05. The company’s market capitalization is $2.57 billion. The firm’s 50 day moving average price is $64.15 and its 200-day moving average price is $51.12.
Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.08). The company had revenue of $8.07 million during the quarter, compared to analyst estimates of $5.35 million. Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.62) EPS. On average, analysts predict that Blueprint Medicines Corporation will post ($3.66) EPS for the current year.
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In related news, Director Daniel Lynch sold 2,500 shares of Blueprint Medicines Corporation stock in a transaction on Monday, September 18th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the transaction, the director now owns 209,342 shares in the company, valued at approximately $12,560,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kate Haviland sold 5,449 shares of Blueprint Medicines Corporation stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $66.44, for a total transaction of $362,031.56. The disclosure for this sale can be found here. Insiders have sold a total of 69,305 shares of company stock worth $3,606,782 in the last 90 days. Company insiders own 3.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BPMC. Wells Fargo & Company MN increased its stake in Blueprint Medicines Corporation by 40.2% during the 1st quarter. Wells Fargo & Company MN now owns 21,928 shares of the biotechnology company’s stock worth $877,000 after buying an additional 6,286 shares during the period. Bank of New York Mellon Corp increased its stake in Blueprint Medicines Corporation by 29.0% during the 1st quarter. Bank of New York Mellon Corp now owns 120,568 shares of the biotechnology company’s stock worth $4,822,000 after buying an additional 27,095 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Blueprint Medicines Corporation during the 1st quarter worth $201,000. Parametric Portfolio Associates LLC purchased a new stake in Blueprint Medicines Corporation during the 1st quarter worth $375,000. Finally, Prudential Financial Inc. increased its stake in Blueprint Medicines Corporation by 6.0% during the 1st quarter. Prudential Financial Inc. now owns 17,304 shares of the biotechnology company’s stock worth $692,000 after buying an additional 984 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
About Blueprint Medicines Corporation
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.
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