Cowen and Company Reaffirms Buy Rating for Blueprint Medicines Corporation (BPMC)
“Blueprint reported a Q3 net loss of $38MM and ended the quarter with $391MM in.”,” the firm’s analyst commented.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Blueprint Medicines Corporation from a hold rating to a sell rating in a research report on Friday, August 4th. Canaccord Genuity set a $56.00 target price on Blueprint Medicines Corporation and gave the stock a buy rating in a research report on Wednesday, August 2nd. Morgan Stanley increased their target price on Blueprint Medicines Corporation from $45.00 to $78.00 and gave the stock an overweight rating in a research report on Monday, October 23rd. BTIG Research started coverage on Blueprint Medicines Corporation in a research report on Friday, September 29th. They issued a buy rating and a $90.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $79.00 price objective (up 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 company. The stock presently has a consensus rating of Buy and a consensus target price of $68.69.
Shares of Blueprint Medicines Corporation (NASDAQ BPMC) traded up $2.19 during trading hours on Tuesday, reaching $73.99. 421,643 shares of the company’s stock were exchanged, compared to its average volume of 351,413. The company has a current ratio of 11.28, a quick ratio of 13.07 and a debt-to-equity ratio of 0.02.
Blueprint Medicines Corporation (NASDAQ:BPMC) last issued its earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.06). The firm had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $5.35 million. Blueprint Medicines Corporation had a negative return on equity of 43.11% and a negative net margin of 437.83%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the business posted ($0.62) earnings per share. sell-side analysts expect that Blueprint Medicines Corporation will post -3.74 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Cowen and Company Reaffirms Buy Rating for Blueprint Medicines Corporation (BPMC)” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/cowen-and-company-reaffirms-buy-rating-for-blueprint-medicines-corporation-bpmc/1676705.html.
In other news, insider Kate Haviland sold 6,356 shares of Blueprint Medicines Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $60.03, for a total transaction of $381,550.68. Following the sale, the insider now directly owns 6,356 shares of the company’s stock, valued at $381,550.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Albers sold 30,000 shares of Blueprint Medicines Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $49.62, for a total value of $1,488,600.00. Following the sale, the chief executive officer now directly owns 18,272 shares in the company, valued at $906,656.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,305 shares of company stock worth $3,606,782. Corporate insiders own 3.40% of the company’s stock.
A number of large investors have recently bought and sold shares of BPMC. BlackRock Inc. grew its stake in Blueprint Medicines Corporation by 39.6% in the second quarter. BlackRock Inc. now owns 2,864,255 shares of the biotechnology company’s stock worth $145,131,000 after purchasing an additional 811,820 shares in the last quarter. State Street Corp grew its stake in Blueprint Medicines Corporation by 76.8% in the second quarter. State Street Corp now owns 1,400,035 shares of the biotechnology company’s stock worth $70,936,000 after purchasing an additional 608,296 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in Blueprint Medicines Corporation in the second quarter worth about $28,375,000. FMR LLC grew its stake in Blueprint Medicines Corporation by 10.8% in the second quarter. FMR LLC now owns 5,300,589 shares of the biotechnology company’s stock worth $268,581,000 after purchasing an additional 516,835 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Blueprint Medicines Corporation by 34.5% in the first quarter. Vanguard Group Inc. now owns 1,220,446 shares of the biotechnology company’s stock worth $48,806,000 after purchasing an additional 313,181 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.
About Blueprint Medicines Corporation
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.
Receive News & Ratings for Blueprint Medicines Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.