Blueprint Medicines’ (BPMC) “Buy” Rating Reiterated at Cowen

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Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reissued by investment analysts at Cowen in a research note issued to investors on Monday, AnalystRatings.com reports.

Several other analysts have also issued reports on the stock. Piper Jaffray Companies assumed coverage on shares of Blueprint Medicines in a research report on Thursday, August 29th. They set a “neutral” rating and a $85.00 price target on the stock. ValuEngine upgraded Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Raymond James reaffirmed a “market perform” rating on shares of Blueprint Medicines in a report on Wednesday, August 14th. Goldman Sachs Group reiterated a “buy” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Thursday, May 23rd. Finally, BidaskClub cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $107.60.

Shares of Blueprint Medicines stock opened at $72.90 on Monday. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 0.16. Blueprint Medicines has a 12-month low of $44.58 and a 12-month high of $102.98. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -13.53 and a beta of 1.65. The firm’s 50-day moving average price is $85.34 and its two-hundred day moving average price is $84.70.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) EPS for the quarter, missing the consensus estimate of ($1.92) by ($0.12). Blueprint Medicines had a negative net margin of 4,268.74% and a negative return on equity of 73.73%. The firm had revenue of $5.11 million during the quarter, compared to analyst estimates of $1.39 million. During the same quarter in the previous year, the firm posted ($0.62) earnings per share. Blueprint Medicines’s quarterly revenue was down 87.7% compared to the same quarter last year. On average, sell-side analysts expect that Blueprint Medicines will post -8.44 earnings per share for the current year.

In related news, Director Alexis Borisy sold 21,818 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $92.01, for a total value of $2,007,474.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony L. Boral sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $93.88, for a total transaction of $938,800.00. Following the completion of the sale, the insider now owns 10,000 shares in the company, valued at approximately $938,800. The disclosure for this sale can be found here. Insiders have sold a total of 108,888 shares of company stock worth $9,752,015 over the last ninety days. 4.02% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Blueprint Medicines by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 492,662 shares of the biotechnology company’s stock valued at $26,559,000 after acquiring an additional 30,499 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Blueprint Medicines by 457.4% during the first quarter. BNP Paribas Arbitrage SA now owns 9,588 shares of the biotechnology company’s stock valued at $768,000 after purchasing an additional 7,868 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Blueprint Medicines by 841.9% during the first quarter. Bank of Montreal Can now owns 17,275 shares of the biotechnology company’s stock valued at $1,383,000 after purchasing an additional 15,441 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of 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 during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Blueprint Medicines by 0.5% during the first quarter. Victory Capital Management Inc. now owns 472,282 shares of the biotechnology company’s stock worth $37,806,000 after purchasing an additional 2,120 shares during the last quarter.

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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