Blueprint Medicines (BPMC) Earns Buy Rating from Cowen

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating restated by investment analysts at Cowen in a research report issued on Sunday.

Several other equities analysts also recently weighed in on the stock. Guggenheim initiated coverage on shares of Blueprint Medicines in a research note on Tuesday, September 18th. They issued a “buy” rating and a $102.00 price target on the stock. ValuEngine raised shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. BidaskClub downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Saturday, August 25th. Leerink Swann initiated coverage on shares of Blueprint Medicines in a research note on Tuesday, September 25th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, Zacks Investment Research raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $93.11.

NASDAQ:BPMC opened at $69.39 on Friday. The company has a current ratio of 12.36, a quick ratio of 12.36 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $3.43 billion, a PE ratio of -17.70 and a beta of 1.08. Blueprint Medicines has a twelve month low of $57.44 and a twelve month high of $109.00.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.32) by $0.70. The firm had revenue of $41.40 million for the quarter, compared to the consensus estimate of $2.62 million. Blueprint Medicines had a negative net margin of 326.99% and a negative return on equity of 32.61%. The company’s revenue for the quarter was up 602.9% on a year-over-year basis. During the same period last year, the firm posted ($0.86) earnings per share. On average, research analysts anticipate that Blueprint Medicines will post -5.15 earnings per share for the current year.

In related news, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $70.59, for a total transaction of $1,411,800.00. Following the completion of the sale, the chief executive officer now directly owns 20,000 shares in the company, valued at $1,411,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marion Dorsch sold 2,300 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $70.47, for a total transaction of $162,081.00. Following the sale, the insider now owns 2,300 shares of the company’s stock, valued at $162,081. The disclosure for this sale can be found here. 3.15% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc increased its position in Blueprint Medicines by 750.0% during the second quarter. NumerixS Investment Technologies Inc now owns 5,100 shares of the biotechnology company’s stock worth $311,000 after purchasing an additional 4,500 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Blueprint Medicines by 7.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 25,236 shares of the biotechnology company’s stock worth $1,602,000 after purchasing an additional 1,740 shares during the last quarter. grace capital acquired a new stake in Blueprint Medicines during the second quarter worth about $171,000. Bollard Group LLC increased its position in Blueprint Medicines by 38.6% during the second quarter. Bollard Group LLC now owns 53,000 shares of the biotechnology company’s stock worth $3,364,000 after purchasing an additional 14,750 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Blueprint Medicines during the second quarter worth about $15,603,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About Blueprint Medicines

Blueprint Medicines Corporation, a biopharmaceutical company, 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 is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; 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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