BTIG Research started coverage on shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in a research report released on Friday. The firm issued a buy rating and a $90.00 price target on the biotechnology company’s stock.

Several other research firms also recently weighed in on BPMC. Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $79.00 target price (up previously from $64.00) on shares of Blueprint Medicines Corporation in a research report on Wednesday, September 20th. Canaccord Genuity boosted their target price on shares of Blueprint Medicines Corporation from $56.00 to $66.00 and gave the stock a buy rating in a research report on Wednesday, September 20th. Jefferies Group LLC reissued a buy rating and set a $56.00 target price on shares of Blueprint Medicines Corporation in a research report on Tuesday, September 5th. Zacks Investment Research raised shares of Blueprint Medicines Corporation from a sell rating to a hold rating in a research report on Monday, July 17th. Finally, BidaskClub raised shares of Blueprint Medicines Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. Blueprint Medicines Corporation presently has an average rating of Buy and a consensus target price of $61.52.

Shares of Blueprint Medicines Corporation (NASDAQ BPMC) traded up 1.78% on Friday, reaching $69.67. 572,387 shares of the company were exchanged. Blueprint Medicines Corporation has a 52 week low of $25.08 and a 52 week high of $71.67. The stock’s market capitalization is $2.73 billion. The firm’s 50 day moving average price is $50.77 and its 200 day moving average price is $45.84.

Blueprint Medicines Corporation (NASDAQ:BPMC) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.11). The company had revenue of $5.89 million for 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 firm’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.70) EPS. Equities research analysts anticipate that Blueprint Medicines Corporation will post ($3.59) EPS for the current year.

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In related news, Director Daniel Lynch sold 2,500 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 209,342 shares in the company, valued at approximately $12,560,520. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony L. Boral sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $48.60, for a total transaction of $243,000.00. Following the completion of the transaction, the insider now owns 5,000 shares of the company’s stock, valued at $243,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,621 shares of company stock valued at $4,054,806. Company insiders own 3.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its stake in shares of Blueprint Medicines Corporation by 68.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 1,391 shares during the period. Fred Alger Management Inc. acquired a new position in shares of Blueprint Medicines Corporation in the 2nd quarter valued at $203,000. SG Americas Securities LLC lifted its stake in shares of Blueprint Medicines Corporation by 23.3% in the 2nd quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock valued at $208,000 after purchasing an additional 778 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Blueprint Medicines Corporation by 4,457.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,238 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 4,145 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of Blueprint Medicines Corporation in the 2nd quarter valued at $232,000. Hedge funds and other institutional investors own 90.71% of the company’s stock.

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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