Zacks Investment Research cut shares of Blueprint Medicines Corporation (NASDAQ:BPMC) from a hold rating to a sell rating in a research report report published on Friday morning.

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. “

BPMC has been the topic of several other research reports. Jefferies Group LLC increased their price target on Blueprint Medicines Corporation from $42.00 to $52.00 and gave the stock a buy rating in a report on Thursday, May 4th. BidaskClub upgraded Blueprint Medicines Corporation from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Cowen and Company reiterated a buy rating on shares of Blueprint Medicines Corporation in a report on Tuesday, June 6th. Canaccord Genuity set a $52.00 price target on Blueprint Medicines Corporation and gave the stock a buy rating in a report on Tuesday, June 6th. Finally, TheStreet lowered Blueprint Medicines Corporation from a c- rating to a d+ rating in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $47.90.

Shares of Blueprint Medicines Corporation (BPMC) opened at 49.55 on Friday. The company’s market cap is $1.65 billion. Blueprint Medicines Corporation has a 1-year low of $21.97 and a 1-year high of $56.81. The firm has a 50-day moving average price of $50.35 and a 200 day moving average price of $41.89.

Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by $0.11. The firm had revenue of $5.89 million during the quarter, compared to the consensus estimate of $5.96 million. Blueprint Medicines Corporation had a negative return on equity of 45.58% and a negative net margin of 388.91%. The firm’s revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.70) EPS. On average, equities analysts anticipate that Blueprint Medicines Corporation will post ($3.56) earnings per share for the current year.

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In other news, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $50.47, for a total value of $1,009,400.00. Following the transaction, the chief executive officer now owns 47,920 shares in the company, valued at $2,418,522.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $55.06, for a total value of $412,950.00. Following the completion of the transaction, the director now owns 211,842 shares in the company, valued at approximately $11,664,020.52. The disclosure for this sale can be found here. Insiders sold 73,622 shares of company stock worth $3,771,405 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BPMC. SG Americas Securities LLC raised its position in Blueprint Medicines Corporation by 23.3% in 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 in the last quarter. Teachers Advisors LLC raised its position in Blueprint Medicines Corporation by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 32,932 shares of the biotechnology company’s stock worth $924,000 after buying an additional 881 shares in the last quarter. Prudential Financial Inc. raised its position in Blueprint Medicines Corporation by 6.0% in the first quarter. Prudential Financial Inc. now owns 17,304 shares of the biotechnology company’s stock worth $692,000 after buying an additional 984 shares in the last quarter. Legal & General Group Plc raised 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 in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in Blueprint Medicines Corporation by 10.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 17,155 shares of the biotechnology company’s stock worth $686,000 after buying an additional 1,589 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Blueprint Medicines Corporation 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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Analyst Recommendations for Blueprint Medicines Corporation (NASDAQ:BPMC)

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