Blueprint Medicines (BPMC) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Blueprint Medicines from a hold rating to a sell rating in a report on Friday, February 23rd. Cowen reissued a buy rating on shares of Blueprint Medicines in a report on Wednesday, February 21st. Goldman Sachs Group raised their target price on shares of Blueprint Medicines from $82.00 to $99.00 and gave the stock a buy rating in a report on Monday, December 11th. Raymond James Financial set a $82.00 target price on shares of Blueprint Medicines and gave the stock a buy rating in a report on Sunday, December 10th. Finally, JMP Securities raised their target price on shares of Blueprint Medicines from $88.00 to $97.00 and gave the stock an outperform rating in a report on Monday, December 11th. Two analysts have rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Blueprint Medicines presently has an average rating of Buy and a consensus target price of $84.20.

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Blueprint Medicines (NASDAQ BPMC) opened at $100.58 on Friday. The company has a current ratio of 15.98, a quick ratio of 15.98 and a debt-to-equity ratio of 0.02. Blueprint Medicines has a fifty-two week low of $34.38 and a fifty-two week high of $101.97. The stock has a market cap of $4,310.00 and a price-to-earnings ratio of -25.86.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, February 21st. The biotechnology company reported ($1.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by ($0.16). Blueprint Medicines had a negative return on equity of 38.79% and a negative net margin of 691.30%. The business had revenue of $1.63 million for the quarter, compared to analysts’ expectations of $5.28 million. During the same period last year, the business earned ($0.75) EPS. The company’s revenue for the quarter was down 78.8% on a year-over-year basis. analysts forecast that Blueprint Medicines will post -4.85 EPS for the current year.

In other Blueprint Medicines news, Director Daniel Lynch sold 12,500 shares of Blueprint Medicines stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $80.42, for a total value of $1,005,250.00. Following the completion of the transaction, the director now owns 174,342 shares of the company’s stock, valued at $14,020,583.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kate Haviland sold 6,775 shares of Blueprint Medicines stock in a transaction on Monday, February 12th. The shares were sold at an average price of $74.93, for a total transaction of $507,650.75. Following the completion of the transaction, the insider now directly owns 12,649 shares of the company’s stock, valued at approximately $947,789.57. The disclosure for this sale can be found here. Insiders sold 81,775 shares of company stock valued at $6,871,251 in the last ninety days. 3.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BPMC. Perceptive Advisors LLC increased its holdings in Blueprint Medicines by 168.6% in the fourth quarter. Perceptive Advisors LLC now owns 1,140,434 shares of the biotechnology company’s stock valued at $86,000,000 after buying an additional 715,773 shares in the last quarter. TimesSquare Capital Management LLC grew its position in shares of Blueprint Medicines by 54.9% in the third quarter. TimesSquare Capital Management LLC now owns 867,700 shares of the biotechnology company’s stock valued at $60,453,000 after purchasing an additional 307,700 shares during the period. OppenheimerFunds Inc. grew its position in shares of Blueprint Medicines by 8.4% in the fourth quarter. OppenheimerFunds Inc. now owns 1,632,006 shares of the biotechnology company’s stock valued at $123,070,000 after purchasing an additional 126,752 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Blueprint Medicines in the third quarter valued at about $6,967,000. Finally, Artal Group S.A. acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $7,541,000. 97.79% of the stock is owned by institutional investors.

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Blueprint Medicines 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.

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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