Equities Analysts Offer Predictions for Blueprint Medicines Corp.’s FY2016 Earnings (BPMC)
Blueprint Medicines Corp. (NASDAQ:BPMC) – Investment analysts at Wedbush increased their FY2016 EPS estimates for shares of Blueprint Medicines Corp. in a report released on Thursday. Wedbush analyst D. Nierengarten now forecasts that the firm will post earnings of ($2.57) per share for the year, up from their prior estimate of ($2.88). Wedbush has a “Outperform” rating and a $41.00 price objective on the stock. Wedbush also issued estimates for Blueprint Medicines Corp.’s Q4 2016 earnings at ($0.68) EPS, Q1 2017 earnings at ($0.76) EPS, Q2 2017 earnings at ($0.81) EPS, Q3 2017 earnings at ($0.98) EPS, Q4 2017 earnings at ($1.17) EPS, FY2017 earnings at ($3.72) EPS, FY2018 earnings at ($4.52) EPS, FY2019 earnings at ($4.64) EPS and FY2020 earnings at ($3.88) EPS.
A number of other brokerages also recently issued reports on BPMC. Zacks Investment Research upgraded Blueprint Medicines Corp. from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Monday. Canaccord Genuity set a $35.00 price objective on Blueprint Medicines Corp. and gave the company a “buy” rating in a research note on Saturday. Cowen and Company reiterated a “buy” rating on shares of Blueprint Medicines Corp. in a research note on Thursday, November 3rd. Finally, TheStreet upgraded Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $32.43.
Blueprint Medicines Corp. (NASDAQ:BPMC) opened at 35.00 on Monday. The firm’s 50-day moving average is $29.86 and its 200-day moving average is $23.81. The company’s market capitalization is $955.25 million. Blueprint Medicines Corp. has a 12 month low of $13.04 and a 12 month high of $35.96.
Blueprint Medicines Corp. (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.17. Blueprint Medicines Corp. had a negative net margin of 270.30% and a negative return on equity of 55.22%. The business had revenue of $6.16 million for the quarter, compared to analysts’ expectations of $6.06 million. During the same period last year, the business earned ($0.47) earnings per share. The business’s quarterly revenue was up 79.6% on a year-over-year basis.
Several hedge funds have recently modified their holdings of BPMC. BlackRock Group LTD boosted its stake 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 valued at $141,000 after buying an additional 4,311 shares during the period. BlackRock Advisors LLC boosted its stake 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 valued at $167,000 after buying an additional 4,040 shares during the period. American International Group Inc. boosted its stake 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 valued at $233,000 after buying an additional 6,034 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Blueprint Medicines Corp. during the third quarter valued at about $257,000. Finally, Nationwide Fund Advisors boosted its stake 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 valued at $263,000 after buying an additional 6,909 shares during the period. 77.13% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Daniel Lynch sold 21,800 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $30.02, for a total value of $654,436.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.93% of the stock is owned by corporate insiders.
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.
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