BidaskClub Lowers Blueprint Medicines (NASDAQ:BPMC) to Buy

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BidaskClub lowered shares of Blueprint Medicines (NASDAQ:BPMC) from a strong-buy rating to a buy rating in a report released on Wednesday morning, BidAskClub reports.

Several other brokerages have also recently commented on BPMC. ValuEngine upgraded shares of Blueprint Medicines from a buy rating to a strong-buy rating in a research note on Friday, May 10th. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research note on Wednesday, April 3rd. They issued an overweight rating and a $112.00 price objective for the company. Goldman Sachs Group restated a buy rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Thursday, May 23rd. Wedbush restated an outperform rating on shares of Blueprint Medicines in a report on Tuesday, February 26th. Finally, Cowen restated a buy rating on shares of Blueprint Medicines in a report on Tuesday, February 26th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Blueprint Medicines has a consensus rating of Buy and a consensus target price of $105.83.

Shares of NASDAQ BPMC opened at $90.70 on Wednesday. The company has a quick ratio of 6.59, a current ratio of 6.59 and a debt-to-equity ratio of 0.27. Blueprint Medicines has a 52 week low of $44.58 and a 52 week high of $91.80. The stock has a market capitalization of $4.44 billion, a P/E ratio of -16.83 and a beta of 1.45.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.98) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.83) by ($0.15). Blueprint Medicines had a negative net margin of 603.88% and a negative return on equity of 59.26%. The company had revenue of $0.73 million during the quarter, compared to analyst estimates of $1.38 million. During the same quarter last year, the business earned ($1.29) EPS. The firm’s revenue for the quarter was down 23.2% on a year-over-year basis. As a group, research analysts anticipate that Blueprint Medicines will post -7.76 EPS for the current fiscal year.

In other Blueprint Medicines news, insider Ariel Hurley sold 2,733 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $88.04, for a total transaction of $240,613.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $84.75, for a total transaction of $1,695,000.00. Following the transaction, the chief executive officer now owns 48,961 shares of the company’s stock, valued at $4,149,444.75. The disclosure for this sale can be found here. Insiders have sold a total of 47,733 shares of company stock valued at $4,054,863 over the last 90 days. 3.15% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BPMC. Hillhouse Capital Advisors Ltd. purchased a new stake in shares of Blueprint Medicines during the fourth quarter worth about $77,142,000. Norges Bank purchased a new stake in shares of Blueprint Medicines during the fourth quarter worth about $42,705,000. Perceptive Advisors LLC grew its holdings in shares of Blueprint Medicines by 48.3% during the first quarter. Perceptive Advisors LLC now owns 1,271,054 shares of the biotechnology company’s stock worth $101,748,000 after buying an additional 413,728 shares in the last quarter. FMR LLC grew its holdings in shares of Blueprint Medicines by 5.3% during the first quarter. FMR LLC now owns 6,939,294 shares of the biotechnology company’s stock worth $555,491,000 after buying an additional 346,738 shares in the last quarter. Finally, Foresite Capital Management III LLC grew its holdings in shares of Blueprint Medicines by 133.8% during the fourth quarter. Foresite Capital Management III LLC now owns 467,682 shares of the biotechnology company’s stock worth $25,213,000 after buying an additional 267,682 shares in the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation 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 completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; 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.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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