DA Davidson started coverage on shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in a research note issued to investors on Friday. The firm issued a buy rating and a $90.00 price target on the biotechnology company’s stock.

Several other research analysts also recently issued reports on BPMC. Wedbush reiterated an outperform rating and issued a $55.00 target price on shares of Blueprint Medicines Corporation in a research note on Tuesday, June 6th. Cowen and Company reissued a buy rating on shares of Blueprint Medicines Corporation in a research report on Tuesday, June 6th. Canaccord Genuity set a $52.00 price objective on shares of Blueprint Medicines Corporation and gave the stock a buy rating in a report on Tuesday, June 6th. BidaskClub raised Blueprint Medicines Corporation from a hold rating to a buy rating in a research report on Tuesday, June 20th. Finally, Zacks Investment Research cut Blueprint Medicines Corporation from a hold rating to a sell rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $61.52.

Blueprint Medicines Corporation (BPMC) opened at 69.67 on Friday. Blueprint Medicines Corporation has a 12 month low of $25.08 and a 12 month high of $71.67. The company has a 50-day moving average of $50.77 and a 200 day moving average of $45.84. The company’s market cap is $2.73 billion.

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 consensus estimate of ($0.75) by ($0.11). The company had revenue of $5.89 million for the quarter, compared to the consensus estimate of $5.96 million. Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. Blueprint Medicines Corporation’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.70) earnings per share. On average, equities 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, insider Kate Haviland sold 7,265 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $54.66, for a total transaction of $397,104.90. Following the completion of the sale, the insider now directly owns 7,265 shares of the company’s stock, valued at $397,104.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel Lynch sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $55.06, for a total transaction of $412,950.00. Following the sale, the director now directly owns 211,842 shares of the company’s stock, valued at $11,664,020.52. The disclosure for this sale can be found here. Insiders have sold a total of 78,621 shares of company stock valued at $4,054,806 in the last ninety days. Insiders own 3.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. increased 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 worth $173,000 after purchasing an additional 1,391 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in Blueprint Medicines Corporation in the 1st quarter worth $201,000. Fred Alger Management Inc. purchased a new position in Blueprint Medicines Corporation during the second quarter valued at $203,000. SG Americas Securities LLC lifted its position in Blueprint Medicines Corporation by 23.3% during the second 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 in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Blueprint Medicines Corporation by 4,457.0% during the second 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 in the last quarter. 90.71% of the stock is owned by hedge funds and other institutional investors.

Blueprint Medicines Corporation Company Profile

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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