Zacks Investment Research upgraded shares of Blueprint Medicines Corp. (NASDAQ:BPMC) from a hold rating to a buy rating in a report released on Friday morning. The firm currently has $31.00 price target on the stock.

According to Zacks, “Blueprint Medicines Corp is an oncology company which is engaged in developing kinase inhibitors for genomically defined cancer subsets. Blueprint Medicines Corp is based in Cambridge, MA. “

A number of other equities analysts also recently weighed in on the stock. TheStreet raised shares of Blueprint Medicines Corp. from a sell rating to a hold rating in a research note on Friday, July 29th. Canaccord Genuity began coverage on shares of Blueprint Medicines Corp. in a research note on Friday, August 5th. They set a buy rating and a $26.00 target price for the company. Wedbush reissued an outperform rating and set a $41.00 target price on shares of Blueprint Medicines Corp. in a research note on Tuesday, August 9th. Finally, Cowen and Company reissued a buy rating on shares of Blueprint Medicines Corp. in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $30.00.

Blueprint Medicines Corp. (NASDAQ:BPMC) traded up 3.35% during trading on Friday, hitting $28.67. 19,027 shares of the stock were exchanged. The firm’s 50-day moving average is $27.92 and its 200 day moving average is $21.50. Blueprint Medicines Corp. has a 52 week low of $13.04 and a 52 week high of $29.90. The firm’s market cap is $780.60 million.

Blueprint Medicines Corp. (NASDAQ:BPMC) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.03. The firm earned $7.07 million during the quarter, compared to the consensus estimate of $4.41 million. Blueprint Medicines Corp. had a negative net margin of 284.85% and a negative return on equity of 46.01%. The company’s revenue for the quarter was up 163.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.81) earnings per share. Analysts expect that Blueprint Medicines Corp. will post ($3.05) earnings per share for the current fiscal year.

In other news, CEO Jeffrey W. Albers sold 17,000 shares of Blueprint Medicines Corp. stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $22.86, for a total transaction of $388,620.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494 shares in the company, valued at $1,748,652.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.93% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of BPMC. BlackRock Group LTD boosted its position in shares of Blueprint Medicines Corp. by 160.8% in the second quarter. BlackRock Group LTD now owns 6,992 shares of the company’s stock worth $141,000 after buying an additional 4,311 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Blueprint Medicines Corp. by 96.1% in the second quarter. BlackRock Advisors LLC now owns 8,245 shares of the company’s stock worth $167,000 after buying an additional 4,040 shares in the last quarter. American International Group Inc. boosted its position in shares of Blueprint Medicines Corp. by 110.0% in the second quarter. American International Group Inc. now owns 11,520 shares of the company’s stock worth $233,000 after buying an additional 6,034 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Blueprint Medicines Corp. by 114.0% in the second quarter. Nationwide Fund Advisors now owns 12,969 shares of the company’s stock worth $263,000 after buying an additional 6,909 shares in the last quarter. Finally, Fernwood Investment Management LLC acquired a new position in shares of Blueprint Medicines Corp. during the second quarter worth about $285,000. Hedge funds and other institutional investors own 73.65% of the company’s stock.

Blueprint Medicines Corp. Company Profile

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. The Company focuses on crafting drug candidates with therapeutic windows that provide clinical responses to patients without adequate treatment options.

5 Day Chart for NASDAQ:BPMC

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