Raymond James upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a market perform rating to an outperform rating in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports.

Other equities research analysts have also recently issued reports about the stock. Piper Jaffray Companies reissued a hold rating on shares of Blueprint Medicines in a research report on Monday. Deutsche Bank started 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 on the stock. Goldman Sachs Group reissued a buy rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Thursday, May 23rd. Cowen reissued a buy rating on shares of Blueprint Medicines in a research report on Monday. Finally, BidaskClub cut shares of Blueprint Medicines from a hold rating to a sell rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $107.60.

NASDAQ BPMC traded down $0.06 on Thursday, reaching $78.94. The company had a trading volume of 390,493 shares, compared to its average volume of 462,446. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -14.65 and a beta of 1.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52. Blueprint Medicines has a 1-year low of $44.58 and a 1-year high of $102.98. The company’s fifty day moving average is $84.83 and its 200-day moving average is $84.70.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $5.11 million during the quarter, compared to analyst estimates of $1.39 million. During the same period in the previous year, the company posted ($0.62) earnings per share. Blueprint Medicines’s revenue for the quarter was down 87.7% on a year-over-year basis. On average, research analysts forecast that Blueprint Medicines will post -8.44 earnings per share for the current year.

In other news, insider Ariel Hurley sold 1,405 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $98.22, for a total value of $137,999.10. Following the sale, the insider now directly owns 830 shares of the company’s stock, valued at approximately $81,522.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lonnel Coats sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $82.40, for a total transaction of $824,000.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $824,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,155 shares of company stock worth $9,511,402. 4.02% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in shares of Blueprint Medicines by 5.3% in the 1st quarter. FMR LLC now owns 6,939,294 shares of the biotechnology company’s stock valued at $555,491,000 after purchasing an additional 346,738 shares during the period. Vanguard Group Inc. grew its stake in Blueprint Medicines by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,281,362 shares of the biotechnology company’s stock valued at $403,861,000 after buying an additional 321,857 shares during the last quarter. BlackRock Inc. grew its stake in Blueprint Medicines by 20.9% in the 2nd quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock valued at $387,621,000 after buying an additional 710,147 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Blueprint Medicines by 9.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,681,291 shares of the biotechnology company’s stock valued at $347,256,000 after buying an additional 305,682 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Blueprint Medicines by 19,169.3% in the 2nd quarter. Invesco Ltd. now owns 1,801,102 shares of the biotechnology company’s stock valued at $169,897,000 after buying an additional 1,791,755 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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