Zacks Investment Research upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a buy rating in a report released on Monday morning. They currently have $87.00 target price on the biotechnology company’s stock.

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 research analysts also recently issued reports on BPMC. Canaccord Genuity reaffirmed a buy rating and issued a $56.00 price objective on shares of Blueprint Medicines in a research report on Monday, September 11th. Goldman Sachs Group reaffirmed a buy rating and issued a $79.00 price objective (up previously from $64.00) on shares of Blueprint Medicines in a research report on Wednesday, September 20th. BTIG Research started coverage on shares of Blueprint Medicines in a research report on Friday, September 29th. They issued a buy rating and a $90.00 price objective on the stock. DA Davidson started coverage on shares of Blueprint Medicines in a research report on Friday, September 29th. They issued a buy rating and a $90.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of Blueprint Medicines from $45.00 to $78.00 and gave the stock an overweight rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $84.10.

Shares of Blueprint Medicines (NASDAQ:BPMC) traded up $0.79 during trading on Monday, hitting $79.24. 158,155 shares of the stock were exchanged, compared to its average volume of 386,200. The company has a debt-to-equity ratio of 0.02, a quick ratio of 11.28 and a current ratio of 11.28. Blueprint Medicines has a 52-week low of $31.35 and a 52-week high of $92.00. The stock has a market cap of $3,350.00 and a P/E ratio of -23.17.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.06). Blueprint Medicines had a negative return on equity of 43.11% and a negative net margin of 437.83%. The firm had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $5.35 million. During the same period in the previous year, the firm earned ($0.62) EPS. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. equities research analysts expect that Blueprint Medicines will post -3.75 earnings per share for the current fiscal year.

In other Blueprint Medicines news, insider Marion Dorsch sold 18,334 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $65.45, for a total transaction of $1,199,960.30. Following the sale, the insider now 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 SEC, which can be accessed through the SEC website. Also, CEO Jeffrey W. Albers sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $70.31, for a total transaction of $2,109,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,334 shares of company stock worth $3,978,160. 3.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in Blueprint Medicines by 23.3% during the 2nd quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock valued at $208,000 after acquiring an additional 778 shares during the period. Great West Life Assurance Co. Can lifted its stake in 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 valued at $228,000 after acquiring an additional 1,163 shares during the period. Bank of New York Mellon Corp lifted its stake in Blueprint Medicines by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 176,029 shares of the biotechnology company’s stock valued at $12,264,000 after acquiring an additional 1,326 shares during the period. Rhumbline Advisers lifted its stake in Blueprint Medicines by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 45,033 shares of the biotechnology company’s stock valued at $3,137,000 after acquiring an additional 1,329 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in Blueprint Medicines by 68.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 1,391 shares during the period. Institutional investors and hedge funds own 83.54% of the company’s stock.

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About Blueprint Medicines

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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