Wedbush restated their outperform rating on shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in a report published on Monday morning. Wedbush currently has a $82.00 target price on the biotechnology company’s stock, up from their prior target price of $70.00.

A number of other analysts have also recently issued reports on BPMC. 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. Canaccord Genuity set a $56.00 price objective on shares of Blueprint Medicines Corporation and gave the stock a buy rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of Blueprint Medicines Corporation from a strong-buy rating to a buy rating in a research note on Saturday, August 19th. Jefferies Group LLC reissued a buy rating and issued a $56.00 price objective on shares of Blueprint Medicines Corporation in a research note on Tuesday, September 5th. Finally, Goldman Sachs Group, Inc. (The) restated a buy rating and set a $79.00 target price (up previously from $64.00) on shares of Blueprint Medicines Corporation in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. Blueprint Medicines Corporation has an average rating of Buy and an average price target of $70.47.

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) traded up $0.26 during midday trading on Monday, hitting $70.48. The company had a trading volume of 388,338 shares, compared to its average volume of 369,054. Blueprint Medicines Corporation has a 52-week low of $25.08 and a 52-week high of $74.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.28 and a quick ratio of 11.28.

Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.06). Blueprint Medicines Corporation had a negative net margin of 437.83% and a negative return on equity of 43.11%. The business had revenue of $8.07 million for the quarter, compared to analysts’ expectations of $5.35 million. During the same period in the prior year, the company posted ($0.62) earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. sell-side analysts predict that Blueprint Medicines Corporation will post -3.74 earnings per share for the current fiscal year.

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In other Blueprint Medicines Corporation news, Director Daniel Lynch sold 2,500 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 209,342 shares in the company, valued at $12,560,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony L. Boral sold 5,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $48.60, for a total transaction of $243,000.00. Following the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $243,000. The disclosure for this sale can be found here. Insiders have sold 19,305 shares of company stock valued at $1,136,582 in the last quarter. 3.40% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Blueprint Medicines Corporation by 10.8% in the 2nd quarter. FMR LLC now owns 5,300,589 shares of the biotechnology company’s stock worth $268,581,000 after acquiring an additional 516,835 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Blueprint Medicines Corporation by 39.6% in the 2nd quarter. BlackRock Inc. now owns 2,864,255 shares of the biotechnology company’s stock worth $145,131,000 after acquiring an additional 811,820 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Blueprint Medicines Corporation by 0.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,729,169 shares of the biotechnology company’s stock worth $87,617,000 after acquiring an additional 8,903 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Blueprint Medicines Corporation by 16.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,415,963 shares of the biotechnology company’s stock worth $71,746,000 after acquiring an additional 195,517 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Blueprint Medicines Corporation by 76.8% in the 2nd quarter. State Street Corp now owns 1,400,035 shares of the biotechnology company’s stock worth $70,936,000 after acquiring an additional 608,296 shares during the last quarter. Institutional investors and hedge funds own 90.79% 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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