November 10, 2019 at 7:40 pm

Blueprint Medicines (NASDAQ:BPMC) Downgraded by ValuEngine

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Blueprint Medicines (NASDAQ:BPMC) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

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Other equities research analysts also recently issued research reports about the stock. Piper Jaffray Companies restated a “hold” rating on shares of Blueprint Medicines in a research report on Monday, September 9th. Morgan Stanley reduced their price target on shares of Blueprint Medicines from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. HC Wainwright began coverage on shares of Blueprint Medicines in a research report on Thursday, October 3rd. They issued a “buy” rating and a $100.00 price target for the company. JMP Securities began coverage on shares of Blueprint Medicines in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $106.00 price target for the company. Finally, Robert W. Baird began coverage on shares of Blueprint Medicines in a research report on Thursday, July 18th. They issued an “outperform” rating and a $120.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $104.36.

NASDAQ BPMC traded up $0.13 on Thursday, hitting $73.26. The stock had a trading volume of 298,000 shares, compared to its average volume of 459,958. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -13.59 and a beta of 1.60. Blueprint Medicines has a one year low of $44.58 and a one year high of $102.98. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average is $73.99 and its two-hundred day moving average is $82.91.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.19) by $0.26. The firm had revenue of $9.14 million during the quarter, compared to analysts’ expectations of $2.85 million. Blueprint Medicines had a negative net margin of 2,258.84% and a negative return on equity of 80.02%. The firm’s revenue for the quarter was up 734.6% compared to the same quarter last year. During the same period last year, the firm posted ($1.66) earnings per share. On average, sell-side analysts anticipate that Blueprint Medicines will post -8.22 earnings per share for the current year.

In related news, insider Anthony L. Boral sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.07, for a total value of $800,700.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at approximately $104,091. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 415 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $84.02, for a total transaction of $34,868.30. Following the completion of 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. In the last 90 days, insiders sold 41,340 shares of company stock valued at $3,365,796. 4.02% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC lifted its position in Blueprint Medicines by 6.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 849,820 shares of the biotechnology company’s stock worth $62,436,000 after buying an additional 49,800 shares in the last quarter. Eagle Asset Management Inc. lifted its position in Blueprint Medicines by 0.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 768,328 shares of the biotechnology company’s stock worth $56,449,000 after buying an additional 6,150 shares in the last quarter. SG Americas Securities LLC lifted its position in Blueprint Medicines by 86.4% in the 3rd quarter. SG Americas Securities LLC now owns 5,209 shares of the biotechnology company’s stock worth $383,000 after buying an additional 2,415 shares in the last quarter. First Trust Advisors LP lifted its position in Blueprint Medicines by 47.0% in the 3rd quarter. First Trust Advisors LP now owns 62,690 shares of the biotechnology company’s stock worth $4,606,000 after buying an additional 20,042 shares in the last quarter. Finally, Mackay Shields LLC lifted its position in Blueprint Medicines by 6.4% in the 3rd quarter. Mackay Shields LLC now owns 36,622 shares of the biotechnology company’s stock worth $2,691,000 after buying an additional 2,200 shares in the last quarter. Institutional investors own 99.39% of the company’s stock.

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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