ValuEngine Upgrades Blueprint Medicines (NASDAQ:BPMC) to Strong-Buy

Blueprint Medicines (NASDAQ:BPMC) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday, June 4th, ValuEngine reports.

Several other equities research analysts also recently commented on the stock. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $112.00 price target for the company. BidaskClub upgraded shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Goldman Sachs Group restated a “buy” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Thursday, May 23rd. Wedbush reiterated an “outperform” rating on shares of Blueprint Medicines in a research note on Tuesday, February 26th. Finally, Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Tuesday, February 26th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Blueprint Medicines has an average rating of “Buy” and an average target price of $105.83.

BPMC stock traded up $1.62 on Tuesday, hitting $94.33. 415,002 shares of the company’s stock traded hands, compared to its average volume of 475,076. Blueprint Medicines has a 1-year low of $44.58 and a 1-year high of $100.76. The firm has a market cap of $4.41 billion, a PE ratio of -17.50 and a beta of 1.45. The stock’s fifty day moving average is $85.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 6.59 and a current ratio of 6.59.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.15). Blueprint Medicines had a negative net margin of 603.88% and a negative return on equity of 59.26%. The business had revenue of $0.73 million for the quarter, compared to analyst estimates of $1.38 million. During the same period in the prior year, the company earned ($1.29) earnings per share. The firm’s revenue for the quarter was down 23.2% on a year-over-year basis. On average, equities analysts expect that Blueprint Medicines will post -7.76 EPS for the current year.

In other news, CEO Jeffrey W. Albers sold 20,000 shares of the 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 transaction, the chief executive officer now owns 48,961 shares in the company, valued at approximately $4,149,444.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ariel Hurley sold 2,733 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $88.04, for a total transaction of $240,613.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,044 shares of company stock worth $7,077,431. 3.15% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Blueprint Medicines by 24.2% in the 4th 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 period. Partner Investment Management L.P. boosted its holdings in Blueprint Medicines by 3.2% in the 4th quarter. Partner Investment Management L.P. now owns 15,932 shares of the biotechnology company’s stock valued at $859,000 after purchasing an additional 495 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Blueprint Medicines by 16.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,255 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 594 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Blueprint Medicines by 2.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 24,671 shares of the biotechnology company’s stock valued at $1,330,000 after purchasing an additional 595 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Blueprint Medicines by 6.4% in the 4th quarter. Legal & General Group Plc now owns 16,635 shares of the biotechnology company’s stock valued at $897,000 after purchasing an additional 995 shares during the period. 97.46% of the stock is owned by institutional investors and hedge funds.

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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