Zacks Investment Research lowered shares of Blueprint Medicines Corp. (NASDAQ:BPMC) from a buy rating to a sell rating in a research report sent to investors on Tuesday morning.

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. “

Several other research firms have also recently commented on BPMC. Cowen and Company reaffirmed a buy rating on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. Wedbush reaffirmed an outperform rating and issued a $41.00 target price on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. TheStreet raised shares of Blueprint Medicines Corp. from a sell rating to a hold rating in a research report on Friday, July 29th. Finally, Canaccord Genuity assumed coverage on shares of Blueprint Medicines Corp. in a research report on Friday, August 5th. They set a buy rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $30.00.

Blueprint Medicines Corp. (NASDAQ:BPMC) opened at 27.87 on Tuesday. The company’s market capitalization is $758.82 million. The stock’s 50 day moving average is $27.96 and its 200 day moving average is $21.70. Blueprint Medicines Corp. has a one year low of $13.04 and a one year high of $29.90.

Blueprint Medicines Corp. (NASDAQ:BPMC) last posted its earnings results on Tuesday, August 9th. The company reported ($0.70) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.03. Blueprint Medicines Corp. had a negative net margin of 284.85% and a negative return on equity of 46.01%. The firm earned $7.07 million during the quarter, compared to analysts’ expectations of $4.41 million. During the same period last year, the company posted ($0.81) EPS. The company’s quarterly revenue was up 163.0% compared to the same quarter last year. On average, analysts anticipate 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 that occurred on Monday, August 8th. The shares were sold at an average price of $22.86, for a total value of $388,620.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.93% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in BPMC. Schwab Charles Investment Management Inc. raised its stake in shares of Blueprint Medicines Corp. by 71.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 43,823 shares of the company’s stock worth $888,000 after buying an additional 18,320 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Blueprint Medicines Corp. during the second quarter worth approximately $455,000. Redmile Group LLC raised its stake in shares of Blueprint Medicines Corp. by 4.8% in the second quarter. Redmile Group LLC now owns 28,353 shares of the company’s stock worth $574,000 after buying an additional 1,298 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Blueprint Medicines Corp. by 87.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,566 shares of the company’s stock worth $315,000 after buying an additional 7,281 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of Blueprint Medicines Corp. during the second quarter worth approximately $973,000. 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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