Blueprint Medicines Corp (NASDAQ:BPMC) – Stock analysts at Svb Leerink decreased their FY2020 earnings estimates for shares of Blueprint Medicines in a research report issued to clients and investors on Wednesday, August 14th. Svb Leerink analyst A. Berens now forecasts that the biotechnology company will post earnings of ($9.13) per share for the year, down from their prior estimate of ($8.92). Svb Leerink also issued estimates for Blueprint Medicines’ FY2021 earnings at ($5.87) EPS, FY2022 earnings at $0.51 EPS and FY2023 earnings at $7.13 EPS.
A number of other brokerages have also recently weighed in on BPMC. Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Monday, June 17th. BidaskClub cut shares of Blueprint Medicines from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Zacks Investment Research cut shares of Blueprint Medicines from a “buy” rating to a “sell” rating and set a $94.00 price target for the company. in a research report on Wednesday, August 7th. Raymond James reiterated a “market perform” rating on shares of Blueprint Medicines in a research report on Wednesday, August 14th. Finally, Deutsche Bank began coverage on shares of Blueprint Medicines in a research report on Thursday, July 18th. They set a “buy” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $110.11.
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 73.73% and a negative net margin of 4,268.74%. The firm had revenue of $5.11 million for the quarter, compared to analysts’ expectations of $1.39 million. During the same period last year, the firm earned ($0.62) earnings per share. Blueprint Medicines’s revenue for the quarter was down 87.7% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its holdings in Blueprint Medicines by 4,594.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 798 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 781 shares in the last quarter. Whittier Trust Co. acquired a new position in Blueprint Medicines during the 2nd quarter worth approximately $97,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Blueprint Medicines by 62.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 423 shares in the last quarter. Trexquant Investment LP acquired a new position in Blueprint Medicines during the 2nd quarter worth approximately $203,000. Finally, Flinton Capital Management LLC acquired a new position in Blueprint Medicines during the 2nd quarter worth approximately $211,000. Institutional investors own 97.45% of the company’s stock.
In other Blueprint Medicines news, Director Nicholas Lydon sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $84.77, for a total transaction of $2,119,250.00. Following the completion of the transaction, the director now owns 166,527 shares in the company, valued at approximately $14,116,493.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey W. Albers sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was 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 of the company’s stock, valued at approximately $4,149,444.75. The disclosure for this sale can be found here. Insiders sold 123,793 shares of company stock valued at $11,122,890 in the last 90 days. Company insiders own 4.02% of the company’s stock.
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.
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