Blueprint Medicines Corporation (BPMC) Receives $53.50 Consensus Price Target from Analysts

Blueprint Medicines Corporation (NASDAQ:BPMC) has been assigned an average recommendation of “Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $53.50.

BPMC has been the subject of several research reports. BidaskClub downgraded Blueprint Medicines Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Canaccord Genuity reissued a “buy” rating and set a $56.00 target price on shares of Blueprint Medicines Corporation in a report on Monday. Jefferies Group LLC reissued a “buy” rating and set a $56.00 target price on shares of Blueprint Medicines Corporation in a report on Tuesday, September 5th. Cowen and Company reissued a “buy” rating on shares of Blueprint Medicines Corporation in a report on Tuesday, June 6th. Finally, Zacks Investment Research raised Blueprint Medicines Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 17th.

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Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) traded down 0.27% during midday trading on Friday, reaching $48.37. 642,328 shares of the company’s stock traded hands. Blueprint Medicines Corporation has a 52-week low of $25.08 and a 52-week high of $56.93. The stock has a 50 day moving average of $50.26 and a 200-day moving average of $44.89. The stock’s market cap is $1.89 billion.

Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.11). Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. The business had revenue of $5.89 million for the quarter, compared to analyst estimates of $5.96 million. During the same period in the prior year, the business earned ($0.70) EPS. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, equities research analysts expect that Blueprint Medicines Corporation will post ($3.59) EPS for the current year.

In other news, Director Daniel Lynch sold 32,500 shares of Blueprint Medicines Corporation stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $50.28, for a total transaction of $1,634,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony L. Boral sold 5,000 shares of Blueprint Medicines Corporation stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $48.60, for a total value of $243,000.00. Following the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $243,000. The disclosure for this sale can be found here. Insiders have sold 128,622 shares of company stock valued at $6,484,605 in the last three months. Insiders own 3.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its stake in Blueprint Medicines Corporation by 0.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,729,169 shares of the biotechnology company’s stock valued at $87,617,000 after purchasing an additional 8,903 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Blueprint Medicines Corporation by 68.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 1,391 shares in the last quarter. California State Teachers Retirement System raised its stake in Blueprint Medicines Corporation by 43.9% in the second quarter. California State Teachers Retirement System now owns 68,861 shares of the biotechnology company’s stock valued at $3,489,000 after purchasing an additional 20,999 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Blueprint Medicines Corporation in the second quarter valued at about $525,000. Finally, The Manufacturers Life Insurance Company raised its stake in Blueprint Medicines Corporation by 79.2% in the second quarter. The Manufacturers Life Insurance Company now owns 29,862 shares of the biotechnology company’s stock valued at $1,513,000 after purchasing an additional 13,194 shares in the last quarter. 90.71% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Blueprint Medicines Corporation (NASDAQ:BPMC)

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