Blueprint Medicines (NASDAQ:BPMC) Rating Reiterated by Piper Jaffray Companies

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “hold” rating reissued by stock analysts at Piper Jaffray Companies in a note issued to investors on Monday, TipRanks reports.

BPMC has been the topic of several other reports. Zacks Investment Research lowered shares of Blueprint Medicines from a “buy” rating to a “sell” rating and set a $94.00 price objective on the stock. in a research note on Wednesday, August 7th. Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Monday. Goldman Sachs Group reiterated a “buy” rating and set 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 stock a “buy” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank started coverage on Blueprint Medicines in a research report on Thursday, July 18th. They set a “buy” rating and a $110.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $107.60.

BPMC traded up $3.92 during trading on Monday, reaching $76.82. 418,420 shares of the stock were exchanged, compared to its average volume of 461,936. The stock has a market cap of $3.59 billion, a P/E ratio of -14.25 and a beta of 1.64. Blueprint Medicines has a twelve month low of $44.58 and a twelve month high of $102.98. The stock’s 50 day moving average price is $84.83 and its two-hundred day moving average price is $84.70. 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 (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.92) by ($0.12). The firm had revenue of $5.11 million for the quarter, compared to the consensus estimate of $1.39 million. Blueprint Medicines had a negative return on equity of 73.73% and a negative net margin of 4,268.74%. The business’s revenue was down 87.7% compared to the same quarter last year. During the same period last year, the company posted ($0.62) earnings per share. Equities research analysts predict that Blueprint Medicines will post -8.44 earnings per share for the current fiscal year.

In other news, CEO Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $99.06, for a total transaction of $495,300.00. Following the completion of the sale, the chief executive officer now owns 33,961 shares in the company, valued at $3,364,176.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 415 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $84.02, for a total value of $34,868.30. Following the sale, the insider now owns 415 shares of the company’s stock, valued at approximately $34,868.30. The disclosure for this sale can be found here. Insiders sold 108,888 shares of company stock worth $9,752,015 over the last three months. Insiders own 4.02% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted 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 purchasing an additional 1,791,755 shares during the period. BlackRock Inc. increased its position in Blueprint Medicines by 20.9% during the 2nd quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock worth $387,621,000 after buying an additional 710,147 shares during the period. FMR LLC lifted its holdings in shares of 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 buying an additional 346,738 shares in the last quarter. Cadian Capital Management LP lifted its holdings in shares of Blueprint Medicines by 161.6% during the second quarter. Cadian Capital Management LP now owns 523,261 shares of the biotechnology company’s stock worth $49,359,000 after buying an additional 323,261 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Blueprint Medicines by 8.1% during the second quarter. Vanguard Group Inc. now owns 4,281,362 shares of the biotechnology company’s stock worth $403,861,000 after buying an additional 321,857 shares in the last quarter.

About Blueprint Medicines

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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