A number of other research analysts have also commented on the company. HC Wainwright reissued a “buy” rating and set a $66.00 price objective on shares of Blueprint Medicines in a report on Thursday, May 7th. Barclays started coverage on Blueprint Medicines in a report on Monday, May 4th. They set an “equal weight” rating and a $59.00 price target on the stock. JMP Securities reduced their price objective on shares of Blueprint Medicines from $107.00 to $103.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 29th. BMO Capital Markets upped their price objective on shares of Blueprint Medicines from $75.00 to $111.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Deutsche Bank lifted their target price on shares of Blueprint Medicines from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $93.54.
Shares of BPMC opened at $76.55 on Wednesday. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -10.30 and a beta of 1.09. The company’s fifty day moving average is $70.11 and its 200-day moving average is $67.50. The company has a quick ratio of 7.14, a current ratio of 7.17 and a debt-to-equity ratio of 0.13. Blueprint Medicines has a 12 month low of $43.29 and a 12 month high of $102.98.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported ($2.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.08) by ($0.03). Blueprint Medicines had a negative return on equity of 65.81% and a negative net margin of 515.98%. The business had revenue of $6.20 million during the quarter, compared to the consensus estimate of $5.57 million. During the same quarter in the prior year, the company posted ($1.98) earnings per share. The company’s revenue for the quarter was up 749.3% on a year-over-year basis. As a group, research analysts predict that Blueprint Medicines will post -8.4 earnings per share for the current fiscal year.
In other news, insider Ariel Hurley sold 700 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $75.00, for a total value of $52,500.00. Following the completion of the transaction, the insider now owns 10,684 shares in the company, valued at approximately $801,300. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Debra Durso-Bumpus sold 2,500 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $75.18, for a total transaction of $187,950.00. Following the completion of the transaction, the insider now owns 22,005 shares of the company’s stock, valued at approximately $1,654,335.90. The disclosure for this sale can be found here. Insiders have sold a total of 36,217 shares of company stock worth $2,578,985 in the last three months. 3.81% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its holdings in Blueprint Medicines by 9.5% during the fourth quarter. Great West Life Assurance Co. Can now owns 3,295 shares of the biotechnology company’s stock valued at $262,000 after purchasing an additional 286 shares in the last quarter. NBW Capital LLC grew its position in Blueprint Medicines by 1.6% in the fourth quarter. NBW Capital LLC now owns 24,566 shares of the biotechnology company’s stock valued at $1,968,000 after acquiring an additional 388 shares during the period. Quantbot Technologies LP grew its position in Blueprint Medicines by 80.0% in the fourth quarter. Quantbot Technologies LP now owns 900 shares of the biotechnology company’s stock valued at $72,000 after acquiring an additional 400 shares during the period. Amalgamated Bank raised its stake in Blueprint Medicines by 5.0% during the fourth quarter. Amalgamated Bank now owns 9,073 shares of the biotechnology company’s stock worth $727,000 after acquiring an additional 433 shares in the last quarter. Finally, Bourgeon Capital Management LLC bought a new position in shares of Blueprint Medicines during the first quarter valued at $29,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.
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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