Blueprint Medicines (BPMC) Reaches New 52-Week High on Analyst Upgrade
Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) reached a new 52-week high on Monday after JMP Securities raised their price target on the stock from $88.00 to $97.00. JMP Securities currently has an outperform rating on the stock. Blueprint Medicines traded as high as $88.71 and last traded at $71.86, with a volume of 296800 shares trading hands. The stock had previously closed at $71.56.
BPMC has been the subject of several other research reports. Jefferies Group reiterated a “buy” rating and issued a $56.00 price objective on shares of Blueprint Medicines in a research note on Tuesday, September 5th. Zacks Investment Research lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Morgan Stanley boosted their price target on shares of Blueprint Medicines from $45.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, October 23rd. Wedbush restated an “outperform” rating and set a $66.00 price target on shares of Blueprint Medicines in a research note on Tuesday, August 22nd. Finally, Cowen restated a “buy” rating on shares of Blueprint Medicines in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.56.
In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 30,000 shares of Blueprint Medicines stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.31, for a total transaction of $2,109,300.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anthony L. Boral sold 5,000 shares of Blueprint Medicines stock in a transaction on Monday, November 6th. The stock was sold at an average price of $70.40, for a total transaction of $352,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,639 shares of company stock valued at $4,871,743 in the last 90 days. 3.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. TimesSquare Capital Management LLC purchased a new position in Blueprint Medicines during the 2nd quarter worth $28,375,000. Bank of America Corp DE boosted its holdings in shares of Blueprint Medicines by 105.0% in the 1st quarter. Bank of America Corp DE now owns 8,090 shares of the biotechnology company’s stock worth $324,000 after buying an additional 4,144 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in shares of Blueprint Medicines in the 2nd quarter worth about $1,368,000. Wells Fargo & Company MN boosted its holdings in shares of Blueprint Medicines by 31.5% in the 2nd quarter. Wells Fargo & Company MN now owns 28,827 shares of the biotechnology company’s stock worth $1,462,000 after buying an additional 6,899 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Blueprint Medicines by 62.6% in the 2nd quarter. Rhumbline Advisers now owns 43,704 shares of the biotechnology company’s stock worth $2,214,000 after buying an additional 16,825 shares during the last quarter. 91.40% of the stock is currently owned by hedge funds and other institutional investors.
The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.02.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share 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 analysts’ expectations of $5.35 million. Blueprint Medicines had a negative return on equity of 43.11% and a negative net margin of 437.83%. Blueprint Medicines’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.62) earnings per share. equities analysts predict that Blueprint Medicines Corporation will post -3.76 EPS for the current year.
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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.
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