Blueprint Medicines (BPMC) Price Target Raised to $97.00 at JMP Securities
Blueprint Medicines (NASDAQ:BPMC) had its price target boosted by JMP Securities from $88.00 to $97.00 in a report published on Monday. They currently have an outperform rating on the biotechnology company’s stock.
A number of other research analysts have also issued reports on BPMC. BidaskClub lowered Blueprint Medicines from a strong-buy rating to a buy rating in a report on Saturday, August 19th. Wedbush reissued an outperform rating and issued a $66.00 target price on shares of Blueprint Medicines in a report on Tuesday, August 22nd. Jefferies Group reissued a buy rating and issued a $56.00 target price on shares of Blueprint Medicines in a report on Tuesday, September 5th. Canaccord Genuity restated a buy rating and issued a $56.00 price target on shares of Blueprint Medicines in a research note on Monday, September 11th. Finally, Goldman Sachs Group restated a buy rating and issued a $79.00 price target (up from $64.00) on shares of Blueprint Medicines in a research note on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $83.78.
Blueprint Medicines (NASDAQ BPMC) traded up $16.46 on Monday, reaching $88.32. The company’s stock had a trading volume of 2,099,700 shares, compared to its average volume of 434,903. Blueprint Medicines has a 52 week low of $25.34 and a 52 week high of $92.00. The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.02.
Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.06). The company had revenue of $8.07 million during the quarter, compared to analyst estimates of $5.35 million. Blueprint Medicines had a negative net margin of 437.83% and a negative return on equity of 43.11%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.62) EPS. equities analysts predict that Blueprint Medicines will post -3.76 earnings per share for the current fiscal year.
In other news, insider Marion Dorsch sold 18,334 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $65.45, for a total value of $1,199,960.30. Following the sale, the insider now directly owns 18,334 shares in the company, valued at $1,199,960.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony L. Boral sold 5,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.40, for a total value of $352,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,639 shares of company stock worth $4,871,743. 3.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Blueprint Medicines by 10.8% in the second quarter. FMR LLC now owns 5,300,589 shares of the biotechnology company’s stock valued at $268,581,000 after purchasing an additional 516,835 shares during the last quarter. BlackRock Inc. increased its stake in Blueprint Medicines by 39.6% in the second quarter. BlackRock Inc. now owns 2,864,255 shares of the biotechnology company’s stock valued at $145,131,000 after purchasing an additional 811,820 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Blueprint Medicines by 0.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,729,169 shares of the biotechnology company’s stock valued at $87,617,000 after purchasing an additional 8,903 shares during the last quarter. Vanguard Group Inc. increased its stake in Blueprint Medicines by 16.0% in the second quarter. Vanguard Group Inc. now owns 1,415,963 shares of the biotechnology company’s stock valued at $71,746,000 after purchasing an additional 195,517 shares during the last quarter. Finally, State Street Corp increased its stake in Blueprint Medicines by 76.8% in the second quarter. State Street Corp now owns 1,400,035 shares of the biotechnology company’s stock valued at $70,936,000 after purchasing an additional 608,296 shares during the last quarter. Hedge funds and other institutional investors own 91.40% of the company’s stock.
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About Blueprint Medicines
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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