Blueprint Medicines (BPMC) Stock Rating Upgraded by BidaskClub

Blueprint Medicines (NASDAQ:BPMC) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Blueprint Medicines from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Monday, January 8th. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, February 21st. Finally, ValuEngine raised Blueprint Medicines from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. Blueprint Medicines presently has a consensus rating of “Buy” and an average price target of $87.80.

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Shares of NASDAQ BPMC opened at $88.19 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 15.98 and a quick ratio of 15.98. Blueprint Medicines has a 1-year low of $34.38 and a 1-year high of $109.00. The firm has a market cap of $4,325.83, a P/E ratio of -22.50 and a beta of 0.96.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by ($0.16). Blueprint Medicines had a negative return on equity of 38.79% and a negative net margin of 691.30%. The company had revenue of $1.63 million for the quarter, compared to analyst estimates of $5.28 million. During the same period in the prior year, the business earned ($0.75) earnings per share. Blueprint Medicines’s revenue for the quarter was down 78.8% compared to the same quarter last year. sell-side analysts predict that Blueprint Medicines will post -4.85 earnings per share for the current fiscal year.

In other Blueprint Medicines news, Director George Demetri sold 5,492 shares of the firm’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $100.09, for a total value of $549,694.28. Following the completion of the sale, the director now owns 10,231 shares of the company’s stock, valued at $1,024,020.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Marion Dorsch sold 2,300 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $100.07, for a total value of $230,161.00. Following the completion of the sale, the insider now directly owns 2,300 shares of the company’s stock, valued at approximately $230,161. The disclosure for this sale can be found here. In the last three months, insiders sold 89,567 shares of company stock valued at $7,651,106. 3.40% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Blueprint Medicines by 3.3% in the fourth quarter. BlackRock Inc. now owns 3,081,861 shares of the biotechnology company’s stock valued at $232,401,000 after buying an additional 98,581 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Blueprint Medicines by 8.4% in the fourth quarter. OppenheimerFunds Inc. now owns 1,632,006 shares of the biotechnology company’s stock valued at $123,070,000 after buying an additional 126,752 shares in the last quarter. Perceptive Advisors LLC increased its position in shares of Blueprint Medicines by 168.6% in the fourth quarter. Perceptive Advisors LLC now owns 1,140,434 shares of the biotechnology company’s stock valued at $86,000,000 after buying an additional 715,773 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Blueprint Medicines by 27.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,105,230 shares of the biotechnology company’s stock valued at $83,345,000 after buying an additional 237,530 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Blueprint Medicines by 14.2% in the fourth quarter. Victory Capital Management Inc. now owns 477,362 shares of the biotechnology company’s stock valued at $35,998,000 after buying an additional 59,500 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

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About Blueprint Medicines

Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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