Blueprint Medicines (BPMC) Downgraded by BidaskClub to Hold
BidaskClub cut shares of Blueprint Medicines (NASDAQ:BPMC) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
BPMC has been the subject of a number of other reports. Wedbush reiterated an outperform rating and issued a $66.00 target price on shares of Blueprint Medicines in a report on Tuesday, August 22nd. Jefferies Group reiterated a buy rating and issued a $56.00 target price on shares of Blueprint Medicines in a report on Tuesday, September 5th. Canaccord Genuity reiterated a buy rating and issued a $56.00 target price on shares of Blueprint Medicines in a report on Monday, September 11th. Goldman Sachs Group reissued a buy rating and issued a $79.00 price objective (up previously from $64.00) on shares of Blueprint Medicines in a research note on Wednesday, September 20th. Finally, BTIG Research began coverage on Blueprint Medicines in a research report on Friday, September 29th. They set a buy rating and a $90.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $75.13.
Shares of Blueprint Medicines (NASDAQ:BPMC) traded up $0.26 on Wednesday, hitting $67.35. The stock had a trading volume of 564,400 shares, compared to its average volume of 428,780. Blueprint Medicines has a 52 week low of $25.08 and a 52 week high of $77.91. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.02.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.06). Blueprint Medicines had a negative return on equity of 43.11% and a negative net margin of 437.83%. The company had revenue of $8.07 million for the quarter, compared to the consensus estimate of $5.35 million. During the same quarter last year, the business earned ($0.62) earnings per share. Blueprint Medicines’s revenue was up 31.0% compared to the same quarter last year. research analysts anticipate that Blueprint Medicines will post -3.76 EPS for the current fiscal year.
In related news, Director Daniel Lynch sold 2,500 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the director now directly owns 209,342 shares in the company, valued at approximately $12,560,520. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anthony L. Boral sold 5,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.40, for a total value of $352,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,639 shares of company stock worth $4,871,743. Corporate insiders own 3.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BPMC. SG Americas Securities LLC grew its position in Blueprint Medicines by 23.3% during the second quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock worth $208,000 after buying an additional 778 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Blueprint Medicines by 53.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,332 shares of the biotechnology company’s stock worth $228,000 after purchasing an additional 1,163 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Blueprint Medicines by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 176,029 shares of the biotechnology company’s stock worth $12,264,000 after purchasing an additional 1,326 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Blueprint Medicines by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 45,033 shares of the biotechnology company’s stock worth $3,137,000 after purchasing an additional 1,329 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Blueprint Medicines by 68.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 1,391 shares in the last quarter. Institutional investors own 91.40% of the company’s stock.
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Blueprint Medicines Company Profile
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.
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