Blueprint Medicines (NASDAQ:BPMC) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

BPMC has been the topic of a number of other reports. Zacks Investment Research lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. ValuEngine lowered shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Wedbush reiterated an “outperform” rating and set a $103.00 price target on shares of Blueprint Medicines in a research note on Monday, January 7th. Finally, Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Thursday, November 15th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $103.25.

Shares of NASDAQ:BPMC opened at $73.73 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.05. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -18.81 and a beta of 1.34. Blueprint Medicines has a 1 year low of $44.58 and a 1 year high of $109.00.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Tuesday, October 30th. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.57) by ($0.09). The business had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $1.87 million. Blueprint Medicines had a negative return on equity of 36.72% and a negative net margin of 455.15%. The firm’s revenue for the quarter was down 86.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.96) earnings per share. Analysts anticipate that Blueprint Medicines will post -5.25 EPS for the current fiscal year.

In related news, CEO Jeffrey W. Albers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $63.49, for a total transaction of $1,269,800.00. Following the sale, the chief executive officer now directly owns 20,000 shares in the company, valued at $1,269,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.15% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in BPMC. Eagle Asset Management Inc. increased its stake in shares of Blueprint Medicines by 477.5% during the third quarter. Eagle Asset Management Inc. now owns 778,683 shares of the biotechnology company’s stock worth $60,783,000 after buying an additional 643,841 shares during the period. Partner Fund Management L.P. boosted its holdings in Blueprint Medicines by 70.6% in the third quarter. Partner Fund Management L.P. now owns 1,440,038 shares of the biotechnology company’s stock valued at $112,409,000 after purchasing an additional 595,957 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new position in Blueprint Medicines in the third quarter valued at approximately $44,194,000. Alliancebernstein L.P. boosted its holdings in Blueprint Medicines by 32.5% in the third quarter. Alliancebernstein L.P. now owns 1,026,822 shares of the biotechnology company’s stock valued at $80,154,000 after purchasing an additional 252,028 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Blueprint Medicines in the third quarter valued at approximately $11,579,000.

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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