BidaskClub cut shares of Blueprint Medicines (NASDAQ:BPMC) from a strong-buy rating to a buy rating in a research note released on Wednesday, BidAskClub reports.

BPMC has been the subject of several other reports. Wedbush reiterated an outperform rating on shares of Blueprint Medicines in a research report on Tuesday, February 26th. Cowen reiterated a buy rating on shares of Blueprint Medicines in a research report on Thursday, March 28th. Goldman Sachs Group reiterated a buy rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Thursday, May 23rd. ValuEngine upgraded Blueprint Medicines from a buy rating to a strong-buy rating in a research report on Tuesday, June 4th. Finally, Zacks Investment Research upgraded Blueprint Medicines from a hold rating to a buy rating and set a $88.00 price target for the company in a research report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Blueprint Medicines currently has an average rating of Buy and an average target price of $105.83.

Shares of NASDAQ BPMC opened at $90.70 on Wednesday. Blueprint Medicines has a fifty-two week low of $44.58 and a fifty-two week high of $91.80. The company has a current ratio of 6.59, a quick ratio of 6.59 and a debt-to-equity ratio of 0.27.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.83) by ($0.15). The company had revenue of $0.73 million during the quarter, compared to analysts’ expectations of $1.38 million. Blueprint Medicines had a negative net margin of 603.88% and a negative return on equity of 59.26%. Blueprint Medicines’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.29) earnings per share. As a group, sell-side analysts anticipate that Blueprint Medicines will post -7.76 EPS for the current year.

In related news, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $84.75, for a total transaction of $1,695,000.00. Following the completion of the sale, the chief executive officer now owns 48,961 shares of the company’s stock, valued at $4,149,444.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Lydon sold 25,000 shares of Blueprint Medicines stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $84.77, for a total value of $2,119,250.00. Following the sale, the director now directly owns 166,527 shares of the company’s stock, valued at approximately $14,116,493.79. The disclosure for this sale can be found here. Insiders have sold 47,733 shares of company stock valued at $4,054,863 in the last three months. 3.15% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. First Republic Investment Management Inc. boosted its stake in Blueprint Medicines by 53.3% during the first quarter. First Republic Investment Management Inc. now owns 6,092 shares of the biotechnology company’s stock valued at $488,000 after buying an additional 2,119 shares during the period. TD Asset Management Inc. boosted its stake in Blueprint Medicines by 2.4% during the fourth quarter. TD Asset Management Inc. now owns 63,025 shares of the biotechnology company’s stock valued at $3,398,000 after buying an additional 1,500 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Blueprint Medicines by 2.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 24,671 shares of the biotechnology company’s stock valued at $1,330,000 after buying an additional 595 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Blueprint Medicines by 354.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,476 shares of the biotechnology company’s stock valued at $726,000 after buying an additional 10,511 shares during the period. Finally, Rhumbline Advisers boosted its stake in Blueprint Medicines by 46.1% during the fourth quarter. Rhumbline Advisers now owns 55,349 shares of the biotechnology company’s stock valued at $2,984,000 after buying an additional 17,475 shares during the period. 97.46% of the stock is owned by institutional investors.

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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