Blueprint Medicines Corp. (NASDAQ:BPMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report 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 brokerages also recently issued reports on BPMC. Canaccord Genuity set a $35.00 target price on Blueprint Medicines Corp. and gave the stock a “buy” rating in a research note on Saturday, November 12th. Cowen and Company reaffirmed a “buy” rating on shares of Blueprint Medicines Corp. in a research note on Tuesday, August 9th. Wedbush reaffirmed an “outperform” rating and issued a $41.00 price objective on shares of Blueprint Medicines Corp. in a research note on Thursday, November 10th. Finally, TheStreet raised Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.43.

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

Blueprint Medicines Corp. (NASDAQ:BPMC) opened at 35.15 on Tuesday. The stock’s 50 day moving average price is $30.07 and its 200-day moving average price is $23.95. The company’s market cap is $959.35 million. Blueprint Medicines Corp. has a 52-week low of $13.04 and a 52-week high of $35.96.

Blueprint Medicines Corp. (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.17. Blueprint Medicines Corp. had a negative return on equity of 55.22% and a negative net margin of 270.30%. The company earned $6.16 million during the quarter, compared to analysts’ expectations of $6.06 million. During the same period last year, the firm earned ($0.47) EPS. The firm’s revenue for the quarter was up 79.6% on a year-over-year basis. On average, equities analysts predict that Blueprint Medicines Corp. will post ($2.77) earnings per share for the current fiscal year.

In other Blueprint Medicines Corp. news, Director Daniel Lynch sold 21,800 shares of Blueprint Medicines Corp. 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.93% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. BVF Inc. IL increased its position in shares of Blueprint Medicines Corp. by 15.9% in the first quarter. BVF Inc. IL now owns 2,640,251 shares of the company’s stock worth $47,657,000 after buying an additional 361,792 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Blueprint Medicines Corp. by 48.9% in the second quarter. Bank of New York Mellon Corp now owns 70,750 shares of the company’s stock worth $1,433,000 after buying an additional 23,244 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Blueprint Medicines Corp. by 111.4% in the second quarter. California State Teachers Retirement System now owns 41,962 shares of the company’s stock worth $850,000 after buying an additional 22,109 shares during the last quarter. American Century Companies Inc. bought a new position in shares of Blueprint Medicines Corp. during the second quarter worth approximately $455,000. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Blueprint Medicines Corp. by 27.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 16,100 shares of the company’s stock worth $307,000 after buying an additional 3,500 shares during the last quarter. Institutional investors own 77.13% 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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