Blueprint Medicines Corporation (NASDAQ:BPMC) - Stock analysts at Jefferies Group cut their Q3 2017 earnings estimates for shares of Blueprint Medicines Corporation in a research note issued to investors on Wednesday. Jefferies Group analyst C. Augustine now expects that the biotechnology company will post earnings per share of ($0.92) for the quarter, down from their prior estimate of ($0.78). Jefferies Group has a “Buy” rating and a $52.00 price objective on the stock. Jefferies Group also issued estimates for Blueprint Medicines Corporation’s Q4 2017 earnings at ($0.98) EPS, FY2017 earnings at ($3.61) EPS, FY2018 earnings at ($4.08) EPS, FY2019 earnings at ($4.44) EPS, FY2020 earnings at ($4.51) EPS and FY2021 earnings at ($2.14) EPS.
Blueprint Medicines Corporation (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.11. The business had revenue of $5.89 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.70) EPS. COPYRIGHT VIOLATION NOTICE: “Research Analysts Offer Predictions for Blueprint Medicines Corporation’s Q3 2017 Earnings (BPMC)” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://stocknewstimes.com/2017/08/06/research-analysts-offer-predictions-for-blueprint-medicines-corporations-q3-2017-earnings-bpmc.html.
A number of other analysts have also recently issued reports on BPMC. Zacks Investment Research cut Blueprint Medicines Corporation from a “hold” rating to a “sell” rating in a report on Friday. Canaccord Genuity set a $56.00 price target on Blueprint Medicines Corporation and gave the stock a “buy” rating in a report on Wednesday. BidaskClub upgraded Blueprint Medicines Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Blueprint Medicines Corporation in a report on Tuesday, June 6th. Finally, Cowen and Company restated a “buy” rating on shares of Blueprint Medicines Corporation in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $47.90.
Shares of Blueprint Medicines Corporation (BPMC) opened at 48.66 on Friday. Blueprint Medicines Corporation has a 12 month low of $20.69 and a 12 month high of $56.81. The firm’s market cap is $1.62 billion. The stock’s 50 day moving average is $50.35 and its 200 day moving average is $41.89.
A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake 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. Alliancebernstein L.P. raised its stake in Blueprint Medicines Corporation by 3,543.1% in the first quarter. Alliancebernstein L.P. now owns 972,699 shares of the biotechnology company’s stock valued at $38,898,000 after buying an additional 945,999 shares during the period. FMR LLC raised its stake in Blueprint Medicines Corporation by 23.4% in the first quarter. FMR LLC now owns 4,783,754 shares of the biotechnology company’s stock valued at $191,302,000 after buying an additional 905,614 shares during the period. OppenheimerFunds Inc. purchased a new stake in Blueprint Medicines Corporation during the first quarter valued at about $25,810,000. Finally, Redmile Group LLC purchased a new stake in Blueprint Medicines Corporation during the first quarter valued at about $15,996,000. Hedge funds and other institutional investors own 88.72% of the company’s stock.
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 stock was sold at an average price of $54.66, for a total value of $397,104.90. Following the completion of the transaction, the insider now owns 7,265 shares in the company, valued at approximately $397,104.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Lynch sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $50.28, for a total value of $1,634,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,622 shares of company stock valued at $3,771,405. 3.40% of the stock is owned by company insiders.
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.
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