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

Other equities research analysts have also issued research reports about the stock. BidaskClub raised shares of Blueprint Medicines Corporation from a hold rating to a buy rating in a research report on Tuesday, June 20th. Canaccord Genuity set a $56.00 price target on shares of Blueprint Medicines Corporation and gave the company a buy rating in a research report on Wednesday, August 2nd. DA Davidson initiated coverage on Blueprint Medicines Corporation in a research note on Friday, September 29th. They set a buy rating and a $90.00 price objective for the company. BTIG Research initiated coverage on Blueprint Medicines Corporation in a research note on Friday, September 29th. They set a buy rating and a $90.00 price objective for the company. Finally, Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a $79.00 price objective (up from $64.00) on shares of Blueprint Medicines Corporation in a research note on Wednesday, September 20th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $63.47.

Shares of Blueprint Medicines Corporation (BPMC) traded down 1.98% during trading on Monday, reaching $65.19. 23,719 shares of the company’s stock were exchanged. The firm’s market cap is $2.55 billion. Blueprint Medicines Corporation has a 12 month low of $25.08 and a 12 month high of $71.67. The stock has a 50-day moving average price of $61.35 and a 200 day moving average price of $49.68.

Blueprint Medicines Corporation (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $5.89 million for the quarter, compared to analysts’ expectations of $5.96 million. During the same period in the previous year, the company earned ($0.70) EPS. Blueprint Medicines Corporation’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, analysts forecast that Blueprint Medicines Corporation will post ($3.66) EPS for the current year.

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In related news, CEO Jeffrey W. Albers sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $49.08, for a total transaction of $981,600.00. Following the completion of the transaction, the chief executive officer now directly owns 18,272 shares in the company, valued at approximately $896,789.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kate Haviland sold 6,356 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $60.03, for a total value of $381,550.68. Following the transaction, the insider now owns 6,356 shares of the company’s stock, valued at $381,550.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,305 shares of company stock valued at $3,606,782. 3.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in Blueprint Medicines Corporation by 23.3% in the 2nd quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 778 shares during the period. Prudential Financial Inc. boosted its stake in Blueprint Medicines Corporation by 6.0% in the 1st quarter. Prudential Financial Inc. now owns 17,304 shares of the biotechnology company’s stock worth $692,000 after purchasing an additional 984 shares during the period. Ameritas Investment Partners Inc. boosted its stake 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 worth $173,000 after purchasing an additional 1,391 shares during the period. Legal & General Group Plc boosted its stake in Blueprint Medicines Corporation by 31.8% in the 1st quarter. Legal & General Group Plc now owns 5,884 shares of the biotechnology company’s stock worth $235,000 after purchasing an additional 1,419 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Blueprint Medicines Corporation by 10.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 17,155 shares of the biotechnology company’s stock worth $686,000 after purchasing an additional 1,589 shares during the period. Institutional investors and hedge funds 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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Analyst Recommendations for Blueprint Medicines Corporation (NASDAQ:BPMC)

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