DA Davidson assumed coverage on shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in a report released on Friday. The firm issued a buy rating and a $90.00 price objective on the biotechnology company’s stock.

Several other analysts also recently weighed in on the stock. Jefferies Group LLC reissued a buy rating and issued a $56.00 price target on shares of Blueprint Medicines Corporation in a research note on Tuesday, September 5th. Canaccord Genuity reissued a buy rating and issued a $56.00 price target on shares of Blueprint Medicines Corporation in a research note on Monday, September 11th. BidaskClub raised shares of Blueprint Medicines Corporation from a hold rating to a buy rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of Blueprint Medicines Corporation from a sell rating to a hold rating in a research note on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $79.00 price target (up from $64.00) on shares of Blueprint Medicines Corporation in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $61.52.

Blueprint Medicines Corporation (NASDAQ BPMC) traded up 1.78% during mid-day trading on Friday, reaching $69.67. The company had a trading volume of 572,387 shares. Blueprint Medicines Corporation has a 12-month low of $25.08 and a 12-month high of $71.67. The firm has a 50-day moving average price of $50.77 and a 200 day moving average price of $45.84. The firm’s market capitalization is $2.73 billion.

Blueprint Medicines Corporation (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.11). The business had revenue of $5.89 million during the quarter, compared to the consensus estimate of $5.96 million. Blueprint Medicines Corporation had a negative return on equity of 45.58% and a negative net margin of 388.91%. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.70) earnings per share. Analysts expect that Blueprint Medicines Corporation will post ($3.59) EPS for the current year.

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In other Blueprint Medicines Corporation news, CEO Jeffrey W. Albers sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $49.62, for a total value of $1,488,600.00. Following the transaction, the chief executive officer now owns 18,272 shares in the company, valued at $906,656.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kate Haviland sold 7,265 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $54.66, for a total transaction of $397,104.90. Following the completion of the transaction, the insider now owns 7,265 shares in the company, valued at approximately $397,104.90. The disclosure for this sale can be found here. Insiders sold 78,621 shares of company stock worth $4,054,806 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC purchased a new position in shares of Blueprint Medicines Corporation in the second quarter valued at about $28,375,000. Bank of America Corp DE increased its position in shares of Blueprint Medicines Corporation by 105.0% in the first quarter. Bank of America Corp DE now owns 8,090 shares of the biotechnology company’s stock valued at $324,000 after acquiring an additional 4,144 shares during the period. State of Wisconsin Investment Board purchased a new position in shares of Blueprint Medicines Corporation in the second quarter valued at about $1,368,000. Rhumbline Advisers increased its position in shares of Blueprint Medicines Corporation by 62.6% in the second quarter. Rhumbline Advisers now owns 43,704 shares of the biotechnology company’s stock valued at $2,214,000 after acquiring an additional 16,825 shares during the period. Finally, Swiss National Bank increased its position in shares of Blueprint Medicines Corporation by 12.1% in the first quarter. Swiss National Bank now owns 46,300 shares of the biotechnology company’s stock valued at $1,852,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 90.71% of the company’s stock.

Blueprint Medicines Corporation 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.

Analyst Recommendations for Blueprint Medicines Corporation (NASDAQ:BPMC)

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