Blueprint Medicines Corp. (BPMC) Sees Strong Trading Volume
Blueprint Medicines Corp. (NASDAQ:BPMC) shares saw an uptick in trading volume on Tuesday . 170,715 shares were traded during trading, an increase of 14% from the previous session’s volume of 149,920 shares.The stock last traded at $26.53 and had previously closed at $25.01.
A number of research firms have weighed in on BPMC. Zacks Investment Research raised Blueprint Medicines Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, August 11th. Cowen and Company reaffirmed a “buy” rating on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. Wedbush reaffirmed an “outperform” rating and set a $41.00 price objective on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. TheStreet raised Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Canaccord Genuity began coverage on Blueprint Medicines Corp. in a research report on Friday, August 5th. They set a “buy” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $29.43.
The firm’s market capitalization is $714.71 million. The company’s 50 day moving average is $21.60 and its 200-day moving average is $18.59.
Blueprint Medicines Corp. (NASDAQ:BPMC) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.03. During the same period in the prior year, the business earned ($0.81) earnings per share. The firm had revenue of $7.07 million for the quarter, compared to the consensus estimate of $4.41 million. The company’s revenue for the quarter was up 163.0% compared to the same quarter last year. Equities analysts anticipate that Blueprint Medicines Corp. will post ($2.98) earnings per share for the current fiscal year.
In related news, CEO Jeffrey W. Albers sold 17,000 shares of the business’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $20.03, for a total value of $340,510.00. Following the sale, the chief executive officer now directly owns 92,486 shares of the company’s stock, valued at approximately $1,852,494.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A hedge fund recently raised its stake in Blueprint Medicines Corp. stock. RS Investment Management Co. LLC increased its stake in shares of Blueprint Medicines Corp. (NASDAQ:BPMC) by 17.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 about 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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