Blueprint Medicines (NASDAQ:BPMC) Cut to Sell at BidaskClub

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BidaskClub cut shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, BidAskClub reports.

BPMC has been the topic of a number of other reports. Canaccord Genuity raised their target price on shares of Blueprint Medicines from $105.00 to $120.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Cowen reaffirmed a buy rating on shares of Blueprint Medicines in a research report on Monday, June 17th. Zacks Investment Research lowered shares of Blueprint Medicines from a buy rating to a sell rating and set a $94.00 target price on the stock. in a research report on Wednesday, August 7th. ValuEngine raised shares of Blueprint Medicines from a buy rating to a strong-buy rating in a report on Tuesday, June 4th. Finally, Raymond James reissued a market perform rating on shares of Blueprint Medicines in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $110.11.

Shares of NASDAQ:BPMC opened at $76.89 on Thursday. The firm has a market cap of $3.80 billion, a PE ratio of -14.27 and a beta of 1.55. The firm’s 50 day simple moving average is $92.53 and its 200-day simple moving average is $84.50. Blueprint Medicines has a one year low of $44.58 and a one year high of $102.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.92) by ($0.12). The company had revenue of $5.11 million for the quarter, compared to analysts’ expectations of $1.39 million. Blueprint Medicines had a negative return on equity of 73.73% and a negative net margin of 4,268.74%. The business’s revenue was down 87.7% compared to the same quarter last year. During the same period last year, the business posted ($0.62) earnings per share. Equities research analysts predict that Blueprint Medicines will post -8.45 EPS for the current fiscal year.

In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $84.75, for a total value of $1,695,000.00. Following the transaction, the chief executive officer now directly owns 48,961 shares of the company’s stock, valued at $4,149,444.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas Lydon sold 25,000 shares of Blueprint Medicines stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $84.77, for a total transaction of $2,119,250.00. Following the completion of the transaction, the director now directly owns 166,527 shares in the company, valued at $14,116,493.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,888 shares of company stock worth $13,566,265. 4.02% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its holdings in Blueprint Medicines by 4,594.1% in the second quarter. Rockefeller Capital Management L.P. now owns 798 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 781 shares during the last quarter. Whittier Trust Co. purchased a new position in Blueprint Medicines in the second quarter worth $97,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Blueprint Medicines by 62.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 423 shares during the last quarter. Trexquant Investment LP purchased a new position in Blueprint Medicines in the second quarter worth $203,000. Finally, Flinton Capital Management LLC purchased a new position in Blueprint Medicines in the second quarter worth $211,000. 97.45% of the stock is currently owned by institutional investors and hedge funds.

About Blueprint Medicines

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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