Blueprint Medicines (NASDAQ:BPMC) Lowered to “Buy” at BidaskClub

BidaskClub downgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

A number of other brokerages have also commented on BPMC. Zacks Investment Research upgraded Blueprint Medicines from a hold rating to a buy rating and set a $88.00 price target on the stock in a report on Tuesday, April 30th. Robert W. Baird began coverage on Blueprint Medicines in a report on Thursday, July 18th. They issued an outperform rating and a $120.00 price target on the stock. Goldman Sachs Group restated a buy rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Thursday, May 23rd. Canaccord Genuity boosted their price target on Blueprint Medicines from $105.00 to $120.00 and gave the company a buy rating in a report on Friday, August 2nd. Finally, Cowen restated a buy rating on shares of Blueprint Medicines in a report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $110.11.

NASDAQ:BPMC opened at $91.97 on Tuesday. The firm has a market capitalization of $4.37 billion, a PE ratio of -17.06 and a beta of 1.55. The firm has a 50-day simple moving average of $95.67. Blueprint Medicines has a 1 year low of $44.58 and a 1 year high of $102.98. The company has a current ratio of 7.52, a quick ratio of 7.52 and a debt-to-equity ratio of 0.16.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) EPS for the quarter, missing analysts’ consensus estimates of ($1.92) by ($0.12). The firm had revenue of $5.11 million during the quarter, compared to the consensus estimate of $1.39 million. Blueprint Medicines had a negative net margin of 4,268.74% and a negative return on equity of 73.73%. The business’s revenue for the quarter was down 87.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.62) earnings per share. As a group, equities analysts expect that Blueprint Medicines will post -8.45 earnings per share for the current year.

In related news, CEO Jeffrey W. Albers sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $84.75, for a total transaction of $1,695,000.00. Following the sale, the chief executive officer now owns 48,961 shares in the company, valued at $4,149,444.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kate Haviland sold 1,571 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $95.47, for a total value of $149,983.37. Following the sale, the chief operating officer now owns 17,436 shares in the company, valued at approximately $1,664,614.92. The disclosure for this sale can be found here. Insiders have sold 113,378 shares of company stock worth $10,264,022 in the last quarter. 4.02% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BPMC. Norges Bank bought a new stake in Blueprint Medicines during the fourth quarter worth about $42,705,000. FMR LLC raised its holdings in Blueprint Medicines by 5.3% during the first quarter. FMR LLC now owns 6,939,294 shares of the biotechnology company’s stock worth $555,491,000 after acquiring an additional 346,738 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Blueprint Medicines during the first quarter worth about $21,105,000. Laurion Capital Management LP bought a new stake in Blueprint Medicines during the first quarter worth about $20,966,000. Finally, Spark Investment Management LLC raised its holdings in Blueprint Medicines by 241.1% during the first quarter. Spark Investment Management LLC now owns 107,100 shares of the biotechnology company’s stock worth $8,573,000 after acquiring an additional 75,700 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

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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