BidaskClub cut shares of Blueprint Medicines Corporation (NASDAQ:BPMC) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

A number of other brokerages have also recently weighed in on BPMC. Canaccord Genuity set a $52.00 price target on Blueprint Medicines Corporation and gave the stock a buy rating in a research note on Tuesday, June 6th. Zacks Investment Research cut Blueprint Medicines Corporation from a hold rating to a sell rating in a research note on Friday, August 4th. TheStreet cut Blueprint Medicines Corporation from a c- rating to a d+ rating in a research note on Wednesday, May 3rd. Jefferies Group LLC lifted their price target on Blueprint Medicines Corporation from $42.00 to $52.00 and gave the stock a buy rating in a research note on Thursday, May 4th. Finally, Wedbush reissued an outperform rating and issued a $55.00 price target on shares of Blueprint Medicines Corporation in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $47.90.

Blueprint Medicines Corporation (NASDAQ BPMC) opened at 42.42 on Friday. The stock’s market capitalization is $1.66 billion. Blueprint Medicines Corporation has a 12-month low of $25.08 and a 12-month high of $56.81. The firm has a 50-day moving average of $50.77 and a 200-day moving average of $43.16.

Blueprint Medicines Corporation (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.75) by $0.11. The company had revenue of $5.89 million during the quarter, compared to analysts’ expectations of $5.96 million. Blueprint Medicines Corporation had a negative return on equity of 45.58% and a negative net margin of 388.91%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.70) EPS. Equities research analysts forecast that Blueprint Medicines Corporation will post ($3.59) earnings per share for the current fiscal year.

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In other Blueprint Medicines Corporation news, Director Daniel Lynch sold 7,500 shares of Blueprint Medicines Corporation stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $55.06, for a total transaction of $412,950.00. Following the transaction, the director now owns 211,842 shares of the company’s stock, valued at approximately $11,664,020.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines Corporation stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $50.47, for a total value of $1,009,400.00. Following the transaction, the chief executive officer now directly owns 47,920 shares in the company, valued at approximately $2,418,522.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,622 shares of company stock worth $6,484,605. Company insiders own 3.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in BPMC. FMR LLC boosted its position in Blueprint Medicines Corporation by 10.8% in the second quarter. FMR LLC now owns 5,300,589 shares of the biotechnology company’s stock valued at $268,581,000 after buying an additional 516,835 shares during the period. Wellington Management Group LLP boosted its position in Blueprint Medicines Corporation by 200.4% in the first quarter. Wellington Management Group LLP now owns 3,821,584 shares of the biotechnology company’s stock valued at $152,826,000 after buying an additional 2,549,623 shares during the period. BlackRock Inc. boosted its position in Blueprint Medicines Corporation by 39.6% in the second quarter. BlackRock Inc. now owns 2,864,255 shares of the biotechnology company’s stock valued at $145,131,000 after buying an additional 811,820 shares during the period. Vanguard Group Inc. boosted its position in Blueprint Medicines Corporation by 16.0% in the second quarter. Vanguard Group Inc. now owns 1,415,963 shares of the biotechnology company’s stock valued at $71,746,000 after buying an additional 195,517 shares during the period. Finally, State Street Corp boosted its position in Blueprint Medicines Corporation by 76.8% in the second quarter. State Street Corp now owns 1,400,035 shares of the biotechnology company’s stock valued at $70,936,000 after buying an additional 608,296 shares during the period. 88.90% of the stock is currently owned by institutional investors.

About Blueprint Medicines Corporation

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.

Analyst Recommendations for Blueprint Medicines Corporation (NASDAQ:BPMC)

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