Blueprint Medicines Corp. (NASDAQ:BPMC) dropped 5.5% during trading on Tuesday . The stock traded as low as $20.62 and last traded at $20.89, with a volume of 125,955 shares traded. The stock had previously closed at $22.11.

BPMC has been the subject of several recent research reports. Cowen and Company reissued a “buy” rating on shares of Blueprint Medicines Corp. in a research report on Tuesday, May 10th. Zacks Investment Research downgraded shares of Blueprint Medicines Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. TheStreet raised shares of Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Raymond James Financial Inc. initiated coverage on shares of Blueprint Medicines Corp. in a research report on Friday, May 27th. They set an “outperform” rating and a $23.00 target price for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Blueprint Medicines Corp. presently has an average rating of “Buy” and an average target price of $28.50.

The stock’s market capitalization is $566.98 million. The stock has a 50 day moving average price of $20.18 and a 200 day moving average price of $18.12.

Blueprint Medicines Corp. (NASDAQ:BPMC) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.57) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.13. The firm had revenue of $6.90 million for the quarter, compared to analysts’ expectations of $3.24 million. Blueprint Medicines Corp.’s quarterly revenue was up 961.5% on a year-over-year basis. On average, analysts predict that Blueprint Medicines Corp. will post ($3.10) earnings per share for the current fiscal year.

In other Blueprint Medicines Corp. news, CEO Jeffrey W. Albers sold 17,000 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $20.03, for a total transaction of $340,510.00. Following the completion of the sale, the chief executive officer now owns 92,486 shares of the company’s stock, valued at approximately $1,852,494.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

An institutional investor recently raised its position in Blueprint Medicines Corp. stock. RS Investment Management Co. LLC increased its stake in Blueprint Medicines Corp. (NASDAQ:BPMC) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 740,310 shares of the company’s stock after buying an additional 109,878 shares during the period. RS Investment Management Co. LLC owned 2.73% of Blueprint Medicines Corp. worth $19,500,000 as of its most recent filing with the SEC.

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. The Company focuses on crafting drug candidates with therapeutic windows that provide clinical responses to patients without adequate treatment options.

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