Blueprint Medicines Corp. (NASDAQ:BPMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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 research analysts also recently issued reports on BPMC. TheStreet upgraded Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Canaccord Genuity initiated coverage on Blueprint Medicines Corp. in a research report on Friday, August 5th. They set a “buy” rating and a $26.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $41.00 price objective on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. Finally, Cowen and Company restated a “buy” rating on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $30.00.

Analyst Recommendations for Blueprint Medicines Corp. (NASDAQ:BPMC)

Blueprint Medicines Corp. (NASDAQ:BPMC) traded up 3.81% during midday trading on Tuesday, reaching $30.00. The company’s stock had a trading volume of 378,946 shares. Blueprint Medicines Corp. has a 12-month low of $13.04 and a 12-month high of $30.90. The firm has a 50 day moving average price of $28.15 and a 200-day moving average price of $22.05. The company’s market cap is $816.81 million.

Blueprint Medicines Corp. (NASDAQ:BPMC) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.03. Blueprint Medicines Corp. had a negative return on equity of 46.01% and a negative net margin of 284.85%. The business had revenue of $7.07 million for the quarter, compared to the consensus estimate of $4.41 million. During the same period in the prior year, the business posted ($0.81) earnings per share. The company’s quarterly revenue was up 163.0% compared to the same quarter last year. On average, equities research analysts predict that Blueprint Medicines Corp. will post ($3.05) earnings per share for the current fiscal year.

In other Blueprint Medicines Corp. news, Director Daniel Lynch sold 21,800 shares of the firm’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $30.02, for a total transaction of $654,436.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Albers sold 17,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $22.86, for a total value of $388,620.00. Following the transaction, the chief executive officer now owns 76,494 shares in the company, valued at $1,748,652.84. The disclosure for this sale can be found here. 3.93% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Blueprint Medicines Corp. by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 80,175 shares of the company’s stock valued at $1,447,000 after buying an additional 925 shares during the last quarter. Spark Investment Management LLC increased its position in Blueprint Medicines Corp. by 783.5% in the first quarter. Spark Investment Management LLC now owns 85,700 shares of the company’s stock valued at $1,546,000 after buying an additional 76,000 shares during the last quarter. Geode Capital Management LLC increased its position in Blueprint Medicines Corp. by 2.9% in the first quarter. Geode Capital Management LLC now owns 71,813 shares of the company’s stock valued at $1,296,000 after buying an additional 2,011 shares during the last quarter. Wellington Management Group LLP increased its position in Blueprint Medicines Corp. by 13.4% in the first quarter. Wellington Management Group LLP now owns 536,416 shares of the company’s stock valued at $9,682,000 after buying an additional 63,415 shares during the last quarter. Finally, BVF Inc. IL increased its position in Blueprint Medicines Corp. by 15.9% in the first quarter. BVF Inc. IL now owns 2,640,251 shares of the company’s stock valued at $47,657,000 after buying an additional 361,792 shares during the last quarter. Institutional investors own 73.65% of the company’s stock.

About Blueprint Medicines Corp.

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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