Blueprint Medicines (BPMC) Downgraded by BidaskClub to Hold

Blueprint Medicines (NASDAQ:BPMC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other brokerages also recently weighed in on BPMC. DA Davidson initiated coverage on shares of Blueprint Medicines in a research note on Friday, September 29th. They issued a “buy” rating and a $90.00 target price for the company. ValuEngine downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Goldman Sachs Group restated a “buy” rating and issued a $79.00 target price (up from $64.00) on shares of Blueprint Medicines in a research note on Wednesday, September 20th. Canaccord Genuity raised their target price on shares of Blueprint Medicines from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. Finally, Wedbush restated an “outperform” rating and issued a $82.00 target price (up from $70.00) on shares of Blueprint Medicines in a research note on Monday, November 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Blueprint Medicines currently has an average rating of “Buy” and an average target price of $75.13.

Blueprint Medicines (NASDAQ:BPMC) opened at $67.09 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 11.28 and a current ratio of 11.28. Blueprint Medicines has a one year low of $25.08 and a one year high of $77.91.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.06). The business had revenue of $8.07 million for the quarter, compared to the consensus estimate of $5.35 million. Blueprint Medicines had a negative net margin of 437.83% and a negative return on equity of 43.11%. Blueprint Medicines’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.62) earnings per share. equities analysts forecast that Blueprint Medicines will post -3.76 earnings per share for the current year.

In other news, CEO Jeffrey W. Albers sold 30,000 shares of Blueprint Medicines stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.31, for a total transaction of $2,109,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Lynch sold 2,500 shares of Blueprint Medicines stock in a transaction on Monday, September 18th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the director now owns 209,342 shares of the company’s stock, valued at $12,560,520. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,639 shares of company stock valued at $4,871,743. 3.40% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in shares of Blueprint Medicines by 23.3% during the second quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock worth $208,000 after buying an additional 778 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Blueprint Medicines by 53.6% during the third quarter. Great West Life Assurance Co. Can now owns 3,332 shares of the biotechnology company’s stock worth $228,000 after buying an additional 1,163 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Blueprint Medicines by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 176,029 shares of the biotechnology company’s stock worth $12,264,000 after buying an additional 1,326 shares during the period. Rhumbline Advisers lifted its stake in shares of Blueprint Medicines by 3.0% during the third quarter. Rhumbline Advisers now owns 45,033 shares of the biotechnology company’s stock worth $3,137,000 after buying an additional 1,329 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Blueprint Medicines by 68.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock worth $173,000 after buying an additional 1,391 shares during the period. Institutional investors and hedge funds own 91.40% of the company’s stock.

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Blueprint Medicines Company Profile

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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