Raymond James upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from an outperform rating to a strong-buy rating in a research note issued to investors on Wednesday morning, Briefing.com Automated Import reports. The firm currently has $112.00 price objective on the biotechnology company’s stock, up from their prior price objective of $106.00.
A number of other research analysts have also recently issued reports on the stock. Robert W. Baird initiated coverage on shares of Blueprint Medicines in a report on Thursday, July 18th. They issued an outperform rating and a $120.00 price target for the company. Morgan Stanley cut their price objective on shares of Blueprint Medicines from $110.00 to $109.00 and set an overweight rating on the stock in a research note on Friday, October 11th. Zacks Investment Research lowered shares of Blueprint Medicines from a buy rating to a sell rating and set a $94.00 price objective on the stock. in a research note on Wednesday, August 7th. HC Wainwright started coverage on shares of Blueprint Medicines in a research note on Thursday, October 3rd. They issued a buy rating and a $100.00 price objective on the stock. Finally, Canaccord Genuity increased their price objective on shares of Blueprint Medicines from $105.00 to $120.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $104.36.
BPMC stock traded up $0.13 during mid-day trading on Wednesday, reaching $73.26. The company had a trading volume of 298,000 shares, compared to its average volume of 459,958. Blueprint Medicines has a 12 month low of $44.58 and a 12 month high of $102.98. The firm has a 50 day moving average of $73.99 and a 200 day moving average of $82.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.52 and a quick ratio of 7.52. The company has a market capitalization of $3.46 billion, a PE ratio of -13.59 and a beta of 1.60.
Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($2.19) by $0.26. The business had revenue of $9.14 million during the quarter, compared to analysts’ expectations of $2.85 million. Blueprint Medicines had a negative net margin of 2,258.84% and a negative return on equity of 80.02%. The business’s quarterly revenue was up 734.6% on a year-over-year basis. During the same quarter last year, the company posted ($1.66) earnings per share. Analysts anticipate that Blueprint Medicines will post -8.22 EPS for the current year.
In related news, insider Ariel Hurley sold 415 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $75.00, for a total transaction of $31,125.00. Following the sale, the insider now owns 415 shares in the company, valued at $31,125. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lonnel Coats sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $82.40, for a total transaction of $824,000.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $824,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,340 shares of company stock worth $3,365,796. 4.02% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in Blueprint Medicines by 34.9% during the second quarter. Bank of America Corp DE now owns 113,013 shares of the biotechnology company’s stock valued at $10,660,000 after buying an additional 29,239 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in Blueprint Medicines by 62.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 423 shares during the period. Brown Advisory Inc. grew its position in Blueprint Medicines by 15.6% during the second quarter. Brown Advisory Inc. now owns 274,344 shares of the biotechnology company’s stock valued at $25,878,000 after buying an additional 36,972 shares during the period. Strs Ohio grew its position in Blueprint Medicines by 60.9% during the second quarter. Strs Ohio now owns 7,400 shares of the biotechnology company’s stock valued at $698,000 after buying an additional 2,800 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in Blueprint Medicines during the second quarter valued at $518,000. Institutional investors own 99.39% 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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