Blueprint Medicines (NASDAQ:BPMC) Upgraded at ValuEngine

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Blueprint Medicines (NASDAQ:BPMC) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Tuesday, ValuEngine reports.

A number of other research analysts have also recently commented on BPMC. HC Wainwright reissued a “buy” rating on shares of Blueprint Medicines in a research report on Thursday, January 9th. Piper Jaffray Companies reduced their target price on shares of Blueprint Medicines from $85.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Morgan Stanley reduced their target price on shares of Blueprint Medicines from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Wedbush reissued an “outperform” rating and set a target price (down from ) on shares of Blueprint Medicines in a research report on Wednesday, January 15th. Finally, Deutsche Bank reduced their target price on shares of Blueprint Medicines from $75.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $103.77.

NASDAQ BPMC opened at $65.41 on Tuesday. The company’s fifty day simple moving average is $77.66 and its 200-day simple moving average is $79.78. Blueprint Medicines has a 52 week low of $63.05 and a 52 week high of $102.98. The company has a current ratio of 5.46, a quick ratio of 5.46 and a debt-to-equity ratio of 0.18. The stock has a market cap of $3.21 billion, a P/E ratio of -8.41 and a beta of 1.62.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) EPS for the quarter, topping analysts’ consensus estimates of ($2.19) by $0.26. Blueprint Medicines had a negative net margin of 2,258.84% and a negative return on equity of 77.27%. The business had revenue of $9.14 million for the quarter, compared to analysts’ expectations of $2.85 million. During the same period in the previous year, the company posted ($1.66) earnings per share. The business’s revenue for the quarter was up 734.6% compared to the same quarter last year. On average, research analysts expect that Blueprint Medicines will post -7.38 EPS for the current fiscal year.

In related news, insider Marion Dorsch sold 4,600 shares of Blueprint Medicines stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $79.00, for a total value of $363,400.00. Following the completion of the sale, the insider now owns 4,600 shares in the company, valued at $363,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ariel Hurley sold 415 shares of Blueprint Medicines stock in a transaction on Monday, December 16th. The stock was sold at an average price of $75.00, for a total transaction of $31,125.00. Following the completion of the sale, the insider now owns 415 shares of the company’s stock, valued at approximately $31,125. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,243 shares of company stock valued at $2,754,440. Insiders own 4.02% of the company’s stock.

Several large investors have recently modified their holdings of BPMC. Parametric Portfolio Associates LLC increased its stake in shares of Blueprint Medicines by 51.6% in the second quarter. Parametric Portfolio Associates LLC now owns 25,853 shares of the biotechnology company’s stock worth $2,439,000 after buying an additional 8,799 shares during the last quarter. Bank of America Corp DE increased its stake in Blueprint Medicines by 34.9% during the second quarter. Bank of America Corp DE now owns 113,013 shares of the biotechnology company’s stock valued at $10,660,000 after purchasing an additional 29,239 shares during the last quarter. AQR Capital Management LLC bought a new stake in Blueprint Medicines during the second quarter valued at $882,000. Morgan Stanley increased its stake in Blueprint Medicines by 48.6% during the second quarter. Morgan Stanley now owns 56,048 shares of the biotechnology company’s stock valued at $5,287,000 after purchasing an additional 18,322 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Blueprint Medicines by 1.5% during the second quarter. UBS Asset Management Americas Inc. now owns 132,108 shares of the biotechnology company’s stock valued at $12,462,000 after purchasing an additional 1,953 shares during the last quarter.

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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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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