Blueprint Medicines Corporation (BPMC) Upgraded by Zacks Investment Research to “Hold”
Blueprint Medicines Corporation (NASDAQ:BPMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Blueprint Medicines Corp is an oncology company which is engaged in developing kinase inhibitors for genomically defined cancer subsets. Blueprint Medicines Corp is based in Cambridge, MA. “
Other equities research analysts also recently issued reports about the stock. Canaccord Genuity raised their target price on shares of Blueprint Medicines Corporation from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. TheStreet downgraded shares of Blueprint Medicines Corporation from a “c-” rating to a “d+” rating in a research note on Wednesday, May 3rd. Wedbush reiterated an “outperform” rating and set a $55.00 price objective on shares of Blueprint Medicines Corporation in a research note on Tuesday, June 6th. Cowen and Company reiterated a “buy” rating on shares of Blueprint Medicines Corporation in a research note on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Blueprint Medicines Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $47.40.
Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) traded up 1.28% during trading on Monday, reaching $52.90. 223,550 shares of the company were exchanged. The firm’s market capitalization is $1.76 billion. The company’s 50-day moving average is $40.85 and its 200 day moving average is $37.90. Blueprint Medicines Corporation has a 1-year low of $19.80 and a 1-year high of $56.21.
Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.84) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by $0.11. The firm had revenue of $5.84 million during the quarter, compared to analyst estimates of $6.02 million. Blueprint Medicines Corporation had a negative net margin of 317.57% and a negative return on equity of 55.58%. Blueprint Medicines Corporation’s revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.57) earnings per share. Equities research analysts expect that Blueprint Medicines Corporation will post ($3.32) EPS for the current fiscal year.
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In other Blueprint Medicines Corporation news, insider Kate Haviland sold 6,357 shares of Blueprint Medicines Corporation stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $50.00, for a total value of $317,850.00. Following the completion of the transaction, the insider now owns 6,357 shares of the company’s stock, valued at $317,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Lynch sold 32,500 shares of Blueprint Medicines Corporation stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $50.28, for a total transaction of $1,634,100.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,622 shares of company stock valued at $3,771,405. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Verde Servicos Internacionais S.A. purchased a new position in Blueprint Medicines Corporation during the first quarter worth $199,000. UBS Asset Management Americas Inc. purchased a new position in Blueprint Medicines Corporation during the first quarter worth $201,000. Trexquant Investment LP purchased a new position in Blueprint Medicines Corporation during the first quarter worth $230,000. Legal & General Group Plc boosted its position in Blueprint Medicines Corporation by 31.8% in the first quarter. Legal & General Group Plc now owns 5,884 shares of the biotechnology company’s stock worth $235,000 after buying an additional 1,419 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in Blueprint Medicines Corporation during the fourth quarter worth $289,000. 88.78% of the stock is owned by 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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