Deutsche Bank initiated coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Thursday, Benzinga reports. The firm issued a buy rating and a $110.00 price target on the biotechnology company’s stock.

BPMC has been the topic of several other research reports. ValuEngine upgraded shares of Ultrapar Participacoes from a strong sell rating to a sell rating in a report on Tuesday, June 4th. BidaskClub upgraded shares of Misonix from a buy rating to a strong-buy rating in a report on Wednesday, July 3rd. Goldman Sachs Group upgraded shares of Lenovo Group from a neutral rating to a buy rating in a report on Thursday, May 23rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of German American Bancorp. from a buy rating to a hold rating in a report on Tuesday, April 30th. Finally, Cowen restated a buy rating on shares of Kura Oncology in a report on Monday, June 17th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Blueprint Medicines presently has a consensus rating of Buy and an average target price of $108.13.

Shares of NASDAQ:BPMC opened at $97.75 on Thursday. The business’s fifty day simple moving average is $91.81. The company has a current ratio of 6.59, a quick ratio of 6.59 and a debt-to-equity ratio of 0.27. Blueprint Medicines has a 52 week low of $44.58 and a 52 week high of $101.91.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.15). The business had revenue of $0.73 million for the quarter, compared to analyst estimates of $1.38 million. Blueprint Medicines had a negative return on equity of 59.26% and a negative net margin of 603.88%. Blueprint Medicines’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.29) EPS. Equities analysts anticipate that Blueprint Medicines will post -8.01 earnings per share for the current year.

In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction on Monday, June 17th. The shares were sold at an average price of $99.06, for a total value of $495,300.00. Following the completion of the sale, the chief executive officer now directly owns 33,961 shares of the company’s stock, valued at $3,364,176.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $84.75, for a total transaction of $1,695,000.00. Following the completion of the sale, the chief executive officer now directly owns 48,961 shares of the company’s stock, valued at $4,149,444.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,263 shares of company stock worth $10,252,522. 3.15% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its stake in Blueprint Medicines by 5.3% in the first quarter. FMR LLC now owns 6,939,294 shares of the biotechnology company’s stock valued at $555,491,000 after purchasing an additional 346,738 shares in the last quarter. OppenheimerFunds Inc. increased its stake in Blueprint Medicines by 0.3% in the first quarter. OppenheimerFunds Inc. now owns 1,710,895 shares of the biotechnology company’s stock valued at $136,957,000 after purchasing an additional 5,720 shares in the last quarter. Norges Bank bought a new stake in Blueprint Medicines in the fourth quarter valued at $42,705,000. Eagle Asset Management Inc. increased its stake in Blueprint Medicines by 0.3% in the first quarter. Eagle Asset Management Inc. now owns 763,908 shares of the biotechnology company’s stock valued at $61,150,000 after purchasing an additional 2,639 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Blueprint Medicines by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 492,662 shares of the biotechnology company’s stock worth $26,559,000 after acquiring an additional 30,499 shares in the last quarter. 97.45% of the stock is owned by hedge funds and other institutional investors.

About Blueprint Medicines

Blueprint Medicines Corporation 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 completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; 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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