ValuEngine Downgrades Blueprint Medicines (NASDAQ:BPMC) to Buy

ValuEngine lowered shares of Blueprint Medicines (NASDAQ:BPMC) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Several other research firms have also issued reports on BPMC. Robert W. Baird initiated coverage on shares of Blueprint Medicines in a research report on Thursday, July 18th. They set an outperform rating and a $120.00 price target for the company. BidaskClub upgraded shares of Blueprint Medicines from a strong sell rating to a sell rating in a research report on Tuesday, October 22nd. Raymond James upgraded shares of Blueprint Medicines from an outperform rating to a strong-buy rating and upped their price target for the company from $106.00 to $112.00 in a research report on Wednesday. JMP Securities initiated coverage on shares of Blueprint Medicines in a research report on Tuesday, October 22nd. They set an outperform rating and a $106.00 price target for the company. Finally, Cowen restated a buy rating on shares of Blueprint Medicines in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given 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 target price of $104.36.

BPMC stock traded up $0.13 during midday trading on Thursday, reaching $73.26. 298,000 shares of the company’s stock traded hands, compared to its average volume of 459,958. The company has a 50-day moving average price of $73.99 and a two-hundred day moving average price of $82.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52. Blueprint Medicines has a 52 week low of $44.58 and a 52 week high of $102.98. The firm has a market capitalization of $3.46 billion, a PE ratio of -13.59 and a beta of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.19) by $0.26. Blueprint Medicines had a negative net margin of 2,258.84% and a negative return on equity of 80.02%. The business had revenue of $9.14 million during the quarter, compared to analyst estimates of $2.85 million. During the same period in the prior year, the business posted ($1.66) earnings per share. The company’s revenue was up 734.6% on a year-over-year basis. As a group, analysts predict that Blueprint Medicines will post -8.22 EPS for the current fiscal year.

In other news, insider Ariel Hurley sold 415 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $75.00, for a total transaction of $31,125.00. Following the completion of the sale, the insider now directly owns 415 shares in the company, valued at $31,125. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $81.73, for a total transaction of $1,634,600.00. Following the completion of the transaction, the chief executive officer now directly owns 48,961 shares of the company’s stock, valued at $4,001,582.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,340 shares of company stock valued at $3,365,796. 4.02% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in Blueprint Medicines by 34.9% during the 2nd quarter. Bank of America Corp DE now owns 113,013 shares of the biotechnology company’s stock valued at $10,660,000 after purchasing an additional 29,239 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of 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 acquiring an additional 423 shares during the period. Brown Advisory Inc. increased its stake in shares of Blueprint Medicines by 15.6% in the second quarter. Brown Advisory Inc. now owns 274,344 shares of the biotechnology company’s stock worth $25,878,000 after acquiring an additional 36,972 shares during the period. Strs Ohio increased its stake in shares of Blueprint Medicines by 60.9% in the second quarter. Strs Ohio now owns 7,400 shares of the biotechnology company’s stock worth $698,000 after acquiring an additional 2,800 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in shares of Blueprint Medicines in the second quarter worth $518,000. 99.39% of the stock is owned by institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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