Blueprint Medicines Corporation (BPMC) Given Buy Rating at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) reissued their buy rating on shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in a research note published on Wednesday morning. They currently have a $79.00 price objective on the biotechnology company’s stock, up from their previous price objective of $64.00.
Several other equities research analysts have also weighed in on BPMC. Wedbush reiterated an outperform rating and issued 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. Canaccord Genuity set a $52.00 price objective on Blueprint Medicines Corporation and gave the company a buy rating in a research note on Tuesday, June 6th. BidaskClub upgraded Blueprint Medicines Corporation from a hold rating to a buy rating in a research note on Tuesday, June 20th. Finally, Zacks Investment Research lowered Blueprint Medicines Corporation from a hold rating to a sell rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Blueprint Medicines Corporation currently has a consensus rating of Buy and a consensus price target of $54.40.
Blueprint Medicines Corporation (NASDAQ BPMC) traded up 2.07% on Wednesday, reaching $63.14. The company had a trading volume of 106,075 shares. The company has a 50-day moving average of $50.77 and a 200 day moving average of $45.84. Blueprint Medicines Corporation has a one year low of $25.08 and a one year high of $64.98. The stock’s market cap is $2.47 billion.
Blueprint Medicines Corporation (NASDAQ:BPMC) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.11). Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. The company had revenue of $5.89 million during the quarter, compared to the consensus estimate of $5.96 million. During the same quarter in the prior year, the company posted ($0.70) earnings per share. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, equities research analysts predict that Blueprint Medicines Corporation will post ($3.59) EPS for the current year.
In other Blueprint Medicines Corporation news, Director Daniel Lynch sold 2,500 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the transaction, the director now directly owns 209,342 shares in the company, valued at approximately $12,560,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kate Haviland sold 6,357 shares of the 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 in the company, valued at $317,850. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,478 shares of company stock worth $7,016,156. 3.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Paulson & CO. Inc. bought a new position in Blueprint Medicines Corporation in the 2nd quarter valued at $3,334,000. Lord Abbett & CO. LLC boosted its position in Blueprint Medicines Corporation by 0.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,729,169 shares of the biotechnology company’s stock valued at $87,617,000 after buying an additional 8,903 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Blueprint Medicines Corporation by 68.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 1,391 shares during the last quarter. California State Teachers Retirement System boosted its position in Blueprint Medicines Corporation by 43.9% in the 2nd quarter. California State Teachers Retirement System now owns 68,861 shares of the biotechnology company’s stock valued at $3,489,000 after buying an additional 20,999 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Blueprint Medicines Corporation in the 2nd quarter valued at $525,000. Hedge funds and other institutional investors own 90.71% 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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