Weekly Investment Analysts’ Ratings Changes for Blueprint Medicines (BPMC)

Several analysts have recently updated their ratings and price targets for Blueprint Medicines (NASDAQ: BPMC):

  • 8/2/2019 – Blueprint Medicines had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $120.00 price target on the stock, up previously from $105.00.
  • 7/24/2019 – Blueprint Medicines was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/18/2019 – Blueprint Medicines is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $120.00 price target on the stock.
  • 7/18/2019 – Blueprint Medicines is now covered by analysts at Deutsche Bank AG. They set a “buy” rating and a $110.00 price target on the stock.
  • 7/3/2019 – Blueprint Medicines was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/27/2019 – Blueprint Medicines was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/17/2019 – Blueprint Medicines had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 6/12/2019 – Blueprint Medicines was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/4/2019 – Blueprint Medicines was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.

Shares of BPMC traded down $2.18 during mid-day trading on Friday, reaching $91.64. The company had a trading volume of 8,207 shares, compared to its average volume of 308,894. Blueprint Medicines Corp has a 52-week low of $44.58 and a 52-week high of $102.98. The company has a quick ratio of 6.59, a current ratio of 6.59 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.79 billion, a PE ratio of -17.00 and a beta of 1.55. The company has a 50 day moving average price of $96.07.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) EPS for the quarter, missing analysts’ consensus estimates of ($1.92) by ($0.12). Blueprint Medicines had a negative return on equity of 59.26% and a negative net margin of 603.88%. The company had revenue of $5.11 million during the quarter, compared to analysts’ expectations of $1.39 million. During the same quarter in the previous year, the company earned ($0.62) EPS. The firm’s quarterly revenue was down 87.7% compared to the same quarter last year. Analysts anticipate that Blueprint Medicines Corp will post -8.1 earnings per share for the current year.

In other Blueprint Medicines news, COO Kate Haviland sold 1,571 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $95.47, for a total transaction of $149,983.37. Following the transaction, the chief operating officer now owns 17,436 shares in the company, valued at $1,664,614.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ariel Hurley sold 2,733 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $88.04, for a total value of $240,613.32. The disclosure for this sale can be found here. Insiders sold 113,378 shares of company stock worth $10,264,022 in the last 90 days. Company insiders own 4.02% of the company’s stock.

Hedge funds have recently modified their holdings of the business. First Republic Investment Management Inc. boosted its position in Blueprint Medicines by 53.3% during the first quarter. First Republic Investment Management Inc. now owns 6,092 shares of the biotechnology company’s stock worth $488,000 after purchasing an additional 2,119 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Blueprint Medicines by 40.6% during the first quarter. JPMorgan Chase & Co. now owns 111,374 shares of the biotechnology company’s stock worth $8,915,000 after purchasing an additional 32,152 shares in the last quarter. Chartwell Investment Partners LLC purchased a new position in Blueprint Medicines during the first quarter worth approximately $1,565,000. Deutsche Bank AG boosted its position in Blueprint Medicines by 11.2% during the fourth quarter. Deutsche Bank AG now owns 148,957 shares of the biotechnology company’s stock worth $8,029,000 after purchasing an additional 14,957 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Blueprint Medicines by 220.6% during the fourth quarter. American Century Companies Inc. now owns 271,560 shares of the biotechnology company’s stock worth $14,640,000 after purchasing an additional 186,852 shares in the last quarter. Institutional investors own 97.56% of the company’s stock.

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.

Read More: Cost of Goods Sold (COGS)

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