Berenberg Bank assumed coverage on shares of Blueprint Medicines (NASDAQ:BPMC – Get Rating) in a research note published on Wednesday, The Fly reports. The firm issued a buy rating and a $90.00 price target on the biotechnology company's stock.
A number of other analysts also recently issued reports on BPMC. Credit Suisse Group raised their target price on Blueprint Medicines from $80.00 to $90.00 in a research note on Wednesday, September 7th. SVB Leerink cut their target price on Blueprint Medicines from $65.00 to $57.00 and set a market perform rating for the company in a research note on Thursday, August 18th. HC Wainwright cut their target price on Blueprint Medicines from $100.00 to $80.00 and set a buy rating for the company in a research note on Wednesday, August 17th. Stifel Nicolaus raised their target price on Blueprint Medicines from $93.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, August 18th. Finally, Jefferies Financial Group raised their target price on Blueprint Medicines from $78.00 to $84.00 and gave the stock a buy rating in a research note on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines presently has an average rating of Moderate Buy and a consensus price target of $92.06.
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Blueprint Medicines Stock Performance
Shares of BPMC stock opened at $69.23 on Wednesday. The stock's fifty day moving average is $64.87 and its two-hundred day moving average is $60.98. The firm has a market capitalization of $4.12 billion, a P/E ratio of -5.83 and a beta of 0.78. Blueprint Medicines has a fifty-two week low of $43.46 and a fifty-two week high of $117.86.
Blueprint Medicines (NASDAQ:BPMC – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share for the quarter, missing analysts' consensus estimates of ($2.23) by ($0.45). The firm had revenue of $36.55 million during the quarter, compared to analysts' expectations of $37.61 million. Blueprint Medicines had a negative net
margin of 304.41% and a negative return on equity of 45.89%. The company's revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.86) EPS. On average, equities analysts forecast that Blueprint Medicines will post -9.35 earnings per share for the current year.
Insider Buying and Selling at Blueprint Medicines
In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 5,000 shares of Blueprint Medicines stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $75.11, for a total value of $375,550.00. Following the completion of the transaction, the insider now directly owns 40,836 shares of the company's stock, valued at approximately $3,067,191.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Jeffrey W. Albers sold 10,000 shares of Blueprint Medicines stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $70.07, for a total value of $700,700.00. Following the completion of the transaction, the director now owns 183,243 shares in the company, valued at approximately $12,839,837.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Debra Durso-Bumpus sold 5,000 shares of Blueprint Medicines stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $75.11, for a total value of $375,550.00. Following the completion of the transaction, the insider now owns 40,836 shares of the company's stock, valued at approximately $3,067,191.96. The disclosure for this sale can be found here. Insiders sold a total of 47,500 shares of company stock valued at $3,300,123 in the last three months. 3.42% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Blueprint Medicines
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Exane Derivatives boosted its stake in shares of Blueprint Medicines by 45.8% in the 1st quarter. Exane Derivatives now owns 567 shares of the biotechnology company's stock valued at $36,000 after buying an additional 178 shares during the period. Van ECK Associates Corp lifted its stake in Blueprint Medicines by 16.0% during the first quarter. Van ECK Associates Corp now owns 1,548 shares of the biotechnology company's stock worth $99,000 after purchasing an additional 213 shares during the last quarter. Synovus Financial Corp lifted its stake in Blueprint Medicines by 1.0% during the fourth quarter. Synovus Financial Corp now owns 21,405 shares of the biotechnology company's stock worth $2,293,000 after purchasing an additional 219 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Blueprint Medicines by 50.7% during the second quarter. Nisa Investment Advisors LLC now owns 684 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 230 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Blueprint Medicines by 5.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 6,183 shares of the biotechnology company's stock worth $662,000 after purchasing an additional 312 shares during the last quarter.
Blueprint Medicines Company Profile
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Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.
Further Reading
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