Blueprint Medicines (NASDAQ:BPMC) Upgraded to “Buy” by BidaskClub

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BidaskClub upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a buy rating in a research note published on Thursday morning, BidAskClub reports.

A number of other equities research analysts have also issued reports on BPMC. Deutsche Bank Aktiengesellschaft boosted their target price on Blueprint Medicines from $85.00 to $95.00 and gave the stock a buy rating in a research report on Wednesday, July 15th. Piper Sandler boosted their target price on Blueprint Medicines from $77.00 to $81.00 and gave the stock a neutral rating in a research report on Thursday. Barclays boosted their target price on Blueprint Medicines from $77.00 to $90.00 and gave the stock an equal weight rating in a research report on Wednesday, September 23rd. ValuEngine lowered Blueprint Medicines from a buy rating to a hold rating in a research report on Thursday, October 1st. Finally, Morgan Stanley upped their price target on Blueprint Medicines from $92.00 to $100.00 and gave the company an overweight rating in a research report on Tuesday, October 13th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $100.50.

BPMC stock traded down $4.42 during trading on Thursday, reaching $102.42. 5,904 shares of the company’s stock were exchanged, compared to its average volume of 647,963. Blueprint Medicines has a 1-year low of $43.29 and a 1-year high of $108.50. The company’s fifty day moving average price is $91.23 and its 200-day moving average price is $76.59. The firm has a market cap of $5.91 billion, a PE ratio of -13.34, a P/E/G ratio of 3.90 and a beta of 0.87.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $11.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.49 by $4.67. The business had revenue of $745.10 million during the quarter, compared to analyst estimates of $627.42 million. Blueprint Medicines had a negative return on equity of 70.39% and a negative net margin of 525.44%. The company’s revenue was up 8087.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.93) earnings per share. On average, analysts anticipate that Blueprint Medicines will post 0.79 earnings per share for the current year.

In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $99.17, for a total value of $495,850.00. Following the transaction, the chief executive officer now directly owns 146,434 shares of the company’s stock, valued at approximately $14,521,859.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ariel Hurley sold 700 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $75.00, for a total value of $52,500.00. Following the sale, the insider now owns 10,684 shares of the company’s stock, valued at approximately $801,300. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,435 shares of company stock worth $5,373,079. Insiders own 3.81% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPMC. Advisor Group Holdings Inc. bought a new stake in shares of Blueprint Medicines during the 1st quarter worth about $32,000. Private Capital Group LLC bought a new stake in shares of Blueprint Medicines during the 2nd quarter worth about $51,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Blueprint Medicines by 146.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 580 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 345 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Blueprint Medicines during the 3rd quarter worth about $139,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Blueprint Medicines by 295.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,820 shares of the biotechnology company’s stock worth $169,000 after acquiring an additional 1,360 shares in the last quarter. Institutional investors own 99.55% 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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