Blueprint Medicines (BPMC) Downgraded by BidaskClub

Blueprint Medicines (NASDAQ:BPMC) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday, April 16th, BidAskClub reports.

BPMC has been the topic of several other research reports. Zacks Investment Research lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. ValuEngine downgraded Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. Wedbush reissued an “outperform” rating and set a $103.00 price objective on shares of Blueprint Medicines in a research report on Monday, January 7th. Morgan Stanley started coverage on Blueprint Medicines in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $112.00 price objective for the company. Finally, Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research report on Tuesday, February 26th. Nine investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $102.17.

NASDAQ:BPMC traded up $1.36 during midday trading on Tuesday, hitting $83.66. The company’s stock had a trading volume of 502,465 shares, compared to its average volume of 433,895. Blueprint Medicines has a fifty-two week low of $44.58 and a fifty-two week high of $89.00. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.09 billion, a PE ratio of -15.52 and a beta of 1.53.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data 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 firm 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 46.58% and a negative net margin of 531.53%. Blueprint Medicines’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.29) EPS. Equities research analysts predict that Blueprint Medicines will post -7.27 earnings per share for the current fiscal year.

In other news, insider Ariel Hurley sold 415 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $85.55, for a total transaction of $35,503.25. Following the completion of the sale, the insider now owns 415 shares in the company, valued at $35,503.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $86.39, for a total value of $1,727,800.00. Following the transaction, the chief executive officer now directly owns 48,961 shares in the company, valued at approximately $4,229,740.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,359 shares of company stock valued at $3,798,843. Corporate insiders own 3.15% of the company’s stock.

A number of hedge funds have recently made changes to their positions in BPMC. Advisor Group Inc. grew its holdings in Blueprint Medicines by 101.6% during the first quarter. Advisor Group Inc. now owns 379 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 191 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in Blueprint Medicines in the first quarter valued at $30,000. US Bancorp DE grew its holdings in Blueprint Medicines by 42.7% in the first quarter. US Bancorp DE now owns 668 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 200 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Blueprint Medicines by 24.2% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,000 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 390 shares during the last quarter. Finally, BlueMountain Capital Management LLC acquired a new stake in Blueprint Medicines in the third quarter valued at $140,000. 93.69% of the stock is currently owned by hedge funds and other institutional investors.

Blueprint Medicines Company Profile

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.

Recommended Story: Insider Trading

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

Receive News & Ratings for Blueprint Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines and related companies with MarketBeat.com's FREE daily email newsletter.