Blueprint Medicines Corporation (BPMC) Stock Price Down 1.1%

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) fell 1.1% during mid-day trading on Tuesday . The company traded as low as $61.87 and last traded at $69.05. 287,600 shares changed hands during trading, a decline of 33% from the average session volume of 430,805 shares. The stock had previously closed at $68.32.

A number of brokerages recently issued reports on BPMC. Zacks Investment Research downgraded shares of Blueprint Medicines Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Canaccord Genuity set a $56.00 price objective on shares of Blueprint Medicines Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. Cowen and Company reaffirmed a “buy” rating on shares of Blueprint Medicines Corporation in a report on Friday. Morgan Stanley increased their price objective on shares of Blueprint Medicines Corporation from $45.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 23rd. Finally, BTIG Research assumed coverage on shares of Blueprint Medicines Corporation in a report on Friday, September 29th. They set a “buy” rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $70.47.

The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.02.

Blueprint Medicines Corporation (NASDAQ:BPMC) last issued its earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.06). The business had revenue of $8.07 million during the quarter, compared to analyst estimates of $5.35 million. Blueprint Medicines Corporation had a negative net margin of 437.83% and a negative return on equity of 43.11%. Blueprint Medicines Corporation’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.62) earnings per share. analysts expect that Blueprint Medicines Corporation will post -3.74 earnings per share for the current year.

In other news, Director Daniel Lynch sold 2,500 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the sale, the director now directly owns 209,342 shares in the company, valued at $12,560,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony L. Boral sold 5,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $70.40, for a total transaction of $352,000.00. The disclosure for this sale can be found here. Insiders sold 49,305 shares of company stock valued at $3,354,882 over the last quarter. Company insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. TimesSquare Capital Management LLC acquired a new stake in Blueprint Medicines Corporation during the second quarter worth about $28,375,000. Bank of America Corp DE increased its position in Blueprint Medicines Corporation by 105.0% during the first quarter. Bank of America Corp DE now owns 8,090 shares of the biotechnology company’s stock worth $324,000 after purchasing an additional 4,144 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in Blueprint Medicines Corporation during the second quarter worth about $1,368,000. Rhumbline Advisers increased its position in Blueprint Medicines Corporation by 62.6% during the second quarter. Rhumbline Advisers now owns 43,704 shares of the biotechnology company’s stock worth $2,214,000 after purchasing an additional 16,825 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Blueprint Medicines Corporation by 31.5% during the second quarter. Wells Fargo & Company MN now owns 28,827 shares of the biotechnology company’s stock worth $1,462,000 after purchasing an additional 6,899 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

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Blueprint Medicines Corporation Company Profile

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.

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