Zacks Investment Research upgraded shares of Blueprint Medicines Corp. (NASDAQ:BPMC) from a hold rating to a buy rating in a research report sent to investors on Friday morning. Zacks Investment Research currently has $31.00 target price on the stock.
According to Zacks, “Blueprint Medicines Corp is an oncology company which is engaged in developing kinase inhibitors for genomically defined cancer subsets. Blueprint Medicines Corp is based in Cambridge, MA. “
Other equities analysts have also issued research reports about the stock. Cowen and Company reissued a buy rating on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Canaccord Genuity started coverage on shares of Blueprint Medicines Corp. in a report on Friday, August 5th. They issued a buy rating and a $26.00 price target on the stock. TheStreet raised shares of Blueprint Medicines Corp. from a sell rating to a hold rating in a report on Friday, July 29th. Finally, Wedbush reissued an outperform rating and issued a $41.00 price target on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $30.00.
Shares of Blueprint Medicines Corp. (NASDAQ:BPMC) opened at 28.03 on Friday. The firm’s market cap is $763.17 million. Blueprint Medicines Corp. has a 12 month low of $13.04 and a 12 month high of $29.90. The firm has a 50-day moving average of $27.96 and a 200-day moving average of $21.75.
Blueprint Medicines Corp. (NASDAQ:BPMC) last posted its earnings results on Tuesday, August 9th. The company reported ($0.70) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.03. The business had revenue of $7.07 million for the quarter, compared to analyst estimates of $4.41 million. Blueprint Medicines Corp. had a negative net margin of 284.85% and a negative return on equity of 46.01%. Blueprint Medicines Corp.’s revenue was up 163.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.81) EPS. On average, analysts anticipate that Blueprint Medicines Corp. will post ($3.05) EPS for the current year.
In other news, CEO Jeffrey W. Albers sold 17,000 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $22.86, for a total value of $388,620.00. Following the completion of the sale, the chief executive officer now owns 76,494 shares of the company’s stock, valued at approximately $1,748,652.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.93% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Group LTD boosted its stake in shares of Blueprint Medicines Corp. by 160.8% in the second quarter. BlackRock Group LTD now owns 6,992 shares of the company’s stock worth $141,000 after buying an additional 4,311 shares during the period. BlackRock Advisors LLC boosted its stake in shares of Blueprint Medicines Corp. by 96.1% in the second quarter. BlackRock Advisors LLC now owns 8,245 shares of the company’s stock worth $167,000 after buying an additional 4,040 shares during the period. American International Group Inc. boosted its stake in shares of Blueprint Medicines Corp. by 110.0% in the second quarter. American International Group Inc. now owns 11,520 shares of the company’s stock worth $233,000 after buying an additional 6,034 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Blueprint Medicines Corp. by 114.0% in the second quarter. Nationwide Fund Advisors now owns 12,969 shares of the company’s stock worth $263,000 after buying an additional 6,909 shares during the period. Finally, Fernwood Investment Management LLC acquired a new stake in shares of Blueprint Medicines Corp. during the second quarter worth about $285,000. 73.65% of the stock is owned by institutional investors.
About Blueprint Medicines Corp.
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. The Company focuses on crafting drug candidates with therapeutic windows that provide clinical responses to patients without adequate treatment options.
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