Blueprint Medicines Co. (NASDAQ:BPMC) – Analysts at Jefferies Financial Group lowered their FY2021 earnings estimates for Blueprint Medicines in a report released on Tuesday, January 11th. Jefferies Financial Group analyst E. Yang now expects that the biotechnology company will earn ($10.51) per share for the year, down from their prior forecast of ($6.46). Jefferies Financial Group also issued estimates for Blueprint Medicines’ Q4 2021 earnings at ($4.92) EPS, FY2022 earnings at ($6.06) EPS, FY2023 earnings at ($2.33) EPS, FY2024 earnings at $0.93 EPS and FY2026 earnings at $4.29 EPS.
A number of other brokerages have also recently commented on BPMC. Raymond James raised their price objective on Blueprint Medicines from $122.00 to $133.00 and gave the company a “strong-buy” rating in a research note on Wednesday, November 10th. TheStreet lowered Blueprint Medicines from a “c” rating to a “d” rating in a report on Friday, November 5th. Zacks Investment Research lowered Blueprint Medicines from a “hold” rating to a “sell” rating and set a $80.00 price target on the stock. in a report on Friday. SVB Leerink lowered their target price on Blueprint Medicines from $132.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, JMP Securities restated a “buy” rating and issued a $151.00 target price on shares of Blueprint Medicines in a research note on Tuesday, November 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $118.09.
Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Wednesday, October 27th. The biotechnology company reported ($2.00) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.37). Blueprint Medicines had a negative return on equity of 30.19% and a negative net margin of 383.58%. The business had revenue of $24.19 million for the quarter, compared to analyst estimates of $42.58 million. During the same period in the prior year, the business earned $11.16 EPS. The company’s revenue for the quarter was down 96.8% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Blueprint Medicines by 0.9% in the second quarter. Vanguard Group Inc. now owns 5,565,543 shares of the biotechnology company’s stock worth $489,544,000 after purchasing an additional 51,714 shares during the last quarter. BlackRock Inc. raised its position in shares of Blueprint Medicines by 2.9% in the second quarter. BlackRock Inc. now owns 5,185,918 shares of the biotechnology company’s stock worth $456,151,000 after acquiring an additional 145,232 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Blueprint Medicines by 5.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,262,114 shares of the biotechnology company’s stock worth $374,896,000 after acquiring an additional 212,840 shares during the period. Wellington Management Group LLP raised its position in shares of Blueprint Medicines by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,199,041 shares of the biotechnology company’s stock worth $328,893,000 after purchasing an additional 1,182,979 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Blueprint Medicines by 65.8% during the 3rd quarter. William Blair Investment Management LLC now owns 1,717,164 shares of the biotechnology company’s stock worth $176,542,000 after purchasing an additional 681,246 shares during the last quarter.
In other Blueprint Medicines news, insider L. Becker Hewes sold 729 shares of the firm’s stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $115.49, for a total value of $84,192.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracey L. Mccain sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, December 7th. The shares were sold at an average price of $97.30, for a total transaction of $486,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,458 shares of company stock worth $4,729,692. 3.34% of the stock is owned by insiders.
About Blueprint Medicines
Blueprint Medicines Corp. is a precision therapy company. It focuses on medicines to improve the lives of patients with genomically defined cancers, rare diseases and cancer immunotherapy. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.
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