Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) saw unusually-strong trading volume on Tuesday after Goldman Sachs Group raised their price target on the stock from $82.00 to $99.00. Goldman Sachs Group currently has a buy rating on the stock. Approximately 2,099,700 shares changed hands during mid-day trading, an increase of 383% from the previous session’s volume of 434,903 shares.The stock last traded at $88.32 and had previously closed at $71.86.

BPMC has been the topic of several other research reports. Zacks Investment Research cut Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Canaccord Genuity reiterated a “buy” rating and set a $56.00 price objective on shares of Blueprint Medicines in a research note on Monday, September 11th. Wedbush reiterated an “outperform” rating and set a $82.00 price objective (up previously from $70.00) on shares of Blueprint Medicines in a research note on Monday, November 6th. DA Davidson started coverage on Blueprint Medicines in a research note on Friday, September 29th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, BidaskClub cut Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $83.78.

In related news, insider Marion Dorsch sold 18,334 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $65.45, for a total transaction of $1,199,960.30. Following the transaction, the insider now directly owns 18,334 shares of the company’s stock, valued at approximately $1,199,960.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Lynch sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the transaction, the director now directly owns 209,342 shares in the company, valued at $12,560,520. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,639 shares of company stock worth $4,871,743. Company insiders own 3.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Rockefeller Financial Services Inc. acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $160,000. Turner Investments LLC acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $209,000. Great West Life Assurance Co. Can increased its holdings in shares of Blueprint Medicines by 53.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 3,332 shares of the biotechnology company’s stock worth $228,000 after acquiring an additional 1,163 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Blueprint Medicines by 68.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $244,000. 91.40% of the stock is currently owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.02, a current ratio of 11.28 and a quick ratio of 11.28.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.06). Blueprint Medicines had a negative net margin of 437.83% and a negative return on equity of 43.11%. The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $5.35 million. During the same period in the prior year, the company earned ($0.62) earnings per share. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. equities analysts anticipate that Blueprint Medicines Corporation will post -3.76 EPS for the current fiscal year.

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Blueprint Medicines 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.

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