Blueprint Medicines Corp (BPMC) Receives $93.75 Average Price Target from Brokerages

Blueprint Medicines Corp (NASDAQ:BPMC) has been assigned an average recommendation of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $93.75.

BPMC has been the subject of several recent research reports. Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Sunday, October 7th. Guggenheim initiated coverage on Blueprint Medicines in a report on Tuesday, September 18th. They set a “buy” rating and a $102.00 target price for the company. ValuEngine cut Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a report on Monday, September 17th. Zacks Investment Research upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, BidaskClub upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Saturday, September 1st.

In related news, insider Marion Dorsch sold 2,300 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $70.47, for a total value of $162,081.00. Following the completion of the sale, the insider now directly owns 2,300 shares in the company, valued at approximately $162,081. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $70.59, for a total transaction of $1,411,800.00. Following the completion of the sale, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $1,411,800. The disclosure for this sale can be found here. Company insiders own 3.15% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Blueprint Medicines by 0.7% during the 2nd quarter. FMR LLC now owns 6,575,600 shares of the biotechnology company’s stock worth $417,419,000 after purchasing an additional 44,401 shares during the last quarter. BlackRock Inc. grew its stake in Blueprint Medicines by 1.9% during the 2nd quarter. BlackRock Inc. now owns 3,321,905 shares of the biotechnology company’s stock valued at $210,876,000 after purchasing an additional 63,392 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Blueprint Medicines by 4.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,677,731 shares of the biotechnology company’s stock valued at $106,503,000 after purchasing an additional 64,095 shares in the last quarter. Hillhouse Capital Management Ltd. grew its stake in Blueprint Medicines by 4.6% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 1,430,949 shares of the biotechnology company’s stock valued at $90,837,000 after purchasing an additional 62,500 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Blueprint Medicines by 0.6% during the 2nd quarter. Northern Trust Corp now owns 499,911 shares of the biotechnology company’s stock valued at $31,735,000 after purchasing an additional 2,776 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Shares of Blueprint Medicines stock traded down $1.63 during trading on Friday, reaching $68.06. The company’s stock had a trading volume of 6,338 shares, compared to its average volume of 343,645. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.36 and a current ratio of 12.36. The firm has a market capitalization of $3.10 billion, a PE ratio of -18.01 and a beta of 1.08. Blueprint Medicines has a one year low of $57.44 and a one year high of $109.00.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.70. The firm had revenue of $41.40 million for the quarter, compared to analyst estimates of $2.62 million. Blueprint Medicines had a negative return on equity of 32.61% and a negative net margin of 326.99%. The company’s quarterly revenue was up 602.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.86) earnings per share. Research analysts forecast that Blueprint Medicines will post -5.15 earnings per share for the current year.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a biopharmaceutical company, 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 is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; 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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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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