Blueprint Medicines Corp (NASDAQ:BPMC) Given Average Recommendation of “Buy” by Analysts

Blueprint Medicines Corp (NASDAQ:BPMC) has been assigned a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $106.22.

Several equities research analysts recently commented on the company. JMP Securities assumed coverage on Blueprint Medicines in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $106.00 price objective for the company. Deutsche Bank reduced their price objective on Blueprint Medicines from $75.00 to $70.00 and set a “hold” rating for the company in a report on Tuesday. Raymond James upgraded Blueprint Medicines from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $106.00 to $112.00 in a report on Wednesday, November 6th. Piper Jaffray Companies reiterated a “hold” rating on shares of Blueprint Medicines in a report on Monday, September 9th. Finally, Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a report on Monday, September 30th.

In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 11,744 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $74.56, for a total transaction of $875,632.64. Following the completion of the sale, the chief executive officer now directly owns 66,961 shares in the company, valued at approximately $4,992,612.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey W. Albers sold 8,256 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $75.42, for a total value of $622,667.52. Following the sale, the chief executive officer now owns 66,961 shares of the company’s stock, valued at $5,050,198.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,022 shares of company stock valued at $1,576,685. Corporate insiders own 4.02% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BPMC. Invesco Ltd. grew its stake in shares of Blueprint Medicines by 19,169.3% during the 2nd quarter. Invesco Ltd. now owns 1,801,102 shares of the biotechnology company’s stock valued at $169,897,000 after purchasing an additional 1,791,755 shares during the period. BlackRock Inc. lifted its position in shares of Blueprint Medicines by 20.9% during the 2nd quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock valued at $387,621,000 after buying an additional 710,147 shares in the last quarter. Cadian Capital Management LP lifted its position in shares of Blueprint Medicines by 161.6% during the 2nd quarter. Cadian Capital Management LP now owns 523,261 shares of the biotechnology company’s stock valued at $49,359,000 after buying an additional 323,261 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Blueprint Medicines by 8.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,281,362 shares of the biotechnology company’s stock valued at $403,861,000 after buying an additional 321,857 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Blueprint Medicines by 9.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,681,291 shares of the biotechnology company’s stock valued at $347,256,000 after buying an additional 305,682 shares in the last quarter.

Shares of NASDAQ:BPMC opened at $73.76 on Friday. Blueprint Medicines has a 1-year low of $44.58 and a 1-year high of $102.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.46 and a quick ratio of 5.46. The business has a fifty day moving average price of $74.64 and a 200-day moving average price of $82.45. The company has a market capitalization of $3.58 billion, a PE ratio of -13.68 and a beta of 1.65.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share for the quarter, beating the consensus estimate of ($2.19) by $0.26. Blueprint Medicines had a negative return on equity of 77.27% and a negative net margin of 2,258.84%. The firm had revenue of $9.14 million during the quarter, compared to the consensus estimate of $2.85 million. During the same period last year, the company earned ($1.66) earnings per share. The company’s revenue was up 734.6% on a year-over-year basis. On average, sell-side analysts anticipate that Blueprint Medicines will post -7.43 earnings per share for the current fiscal year.

Blueprint Medicines Company Profile

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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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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