Blueprint Medicines Corp (BPMC) Given Consensus Rating of “Buy” by Brokerages

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Shares of Blueprint Medicines Corp (NASDAQ:BPMC) have received a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $98.67.

Several equities research analysts have recently weighed in on BPMC shares. Zacks Investment Research lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. BidaskClub downgraded Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. Wedbush restated an “outperform” rating and set a $101.00 price target on shares of Blueprint Medicines in a research note on Monday, October 8th. ValuEngine downgraded Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 17th. Finally, Leerink Swann assumed coverage on Blueprint Medicines in a research note on Tuesday, September 25th. They set an “outperform” rating and a $105.00 price target on the stock.

In related news, insider Marion Dorsch sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $70.47, for a total transaction of $162,081.00. Following the transaction, the insider now owns 2,300 shares in the company, valued at approximately $162,081. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $63.49, for a total value of $1,269,800.00. Following the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $1,269,800. The disclosure for this sale can be found here. Company insiders own 3.15% of the company’s stock.

Several hedge funds have recently made changes to their positions in BPMC. Bank of Montreal Can purchased a new position in shares of Blueprint Medicines in the 2nd quarter valued at approximately $154,000. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Blueprint Medicines by 336.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 26,240 shares of the biotechnology company’s stock valued at $1,666,000 after purchasing an additional 20,230 shares during the last quarter. Fiera Capital Corp purchased a new position in shares of Blueprint Medicines in the 2nd quarter valued at approximately $2,229,000. Jennison Associates LLC grew its stake in shares of Blueprint Medicines by 6.0% in the 2nd quarter. Jennison Associates LLC now owns 220,882 shares of the biotechnology company’s stock valued at $14,022,000 after purchasing an additional 12,408 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Blueprint Medicines by 33.6% in the 2nd quarter. Sei Investments Co. now owns 41,507 shares of the biotechnology company’s stock valued at $2,635,000 after purchasing an additional 10,437 shares during the last quarter.

Shares of NASDAQ BPMC traded down $0.82 during midday trading on Monday, hitting $57.47. 314,842 shares of the company’s stock were exchanged, compared to its average volume of 391,514. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.05. Blueprint Medicines has a twelve month low of $50.51 and a twelve month high of $109.00. The firm has a market capitalization of $2.56 billion, a PE ratio of -14.66 and a beta of 1.42.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Tuesday, October 30th. The biotechnology company reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.57) by ($0.09). Blueprint Medicines had a negative return on equity of 36.72% and a negative net margin of 455.15%. The business had revenue of $1.10 million for the quarter, compared to analyst estimates of $1.87 million. During the same period last year, the business posted ($0.96) EPS. Blueprint Medicines’s revenue was down 86.4% on a year-over-year basis. On average, sell-side analysts forecast that Blueprint Medicines will post -5.25 earnings per share for the current fiscal year.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a biopharmaceutical company, 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 is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; 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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