Blueprint Medicines (BPMC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a buy rating to a hold rating in a research report released on Thursday.

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 equities analysts have also commented on the stock. JMP Securities raised their price objective on shares of Blueprint Medicines from $88.00 to $97.00 and gave the company an outperform rating in a research report on Monday, December 11th. Cowen restated a buy rating on shares of Blueprint Medicines in a research report on Friday, November 10th. ValuEngine lowered shares of Blueprint Medicines from a hold rating to a sell rating in a research report on Friday, December 1st. BidaskClub lowered shares of Blueprint Medicines from a buy rating to a hold rating in a research report on Wednesday, December 6th. Finally, Raymond James Financial set a $82.00 target price on shares of Blueprint Medicines and gave the company a buy rating in a research report on Sunday, December 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $84.10.

Blueprint Medicines (NASDAQ BPMC) traded up $0.79 during mid-day trading on Thursday, hitting $79.24. 158,100 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 current ratio of 11.28 and a quick ratio of 11.28. Blueprint Medicines has a one year low of $31.35 and a one year high of $92.00. The company has a market capitalization of $3,398.03, a price-to-earnings ratio of -23.24 and a beta of 1.29.

Blueprint Medicines (NASDAQ:BPMC) last released 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 the consensus estimate of $5.35 million. During the same quarter last year, the business posted ($0.62) earnings per share. Blueprint Medicines’s revenue was up 31.0% compared to the same quarter last year. analysts anticipate that Blueprint Medicines will post -3.75 EPS for the current fiscal year.

In other Blueprint Medicines news, insider Anthony L. Boral sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.40, for a total transaction of $352,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey W. Albers sold 30,000 shares of Blueprint Medicines stock in a transaction that occurred on Monday, November 6th. The shares were 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. Over the last quarter, insiders have sold 58,334 shares of company stock valued at $3,978,160. 3.40% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of BPMC. Rockefeller Financial Services Inc. purchased a new position in shares of Blueprint Medicines during the third quarter worth approximately $160,000. Ameritas Investment Partners Inc. raised its stake in shares of Blueprint Medicines by 68.9% during the second 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 in the last quarter. Fred Alger Management Inc. purchased a new position in shares of Blueprint Medicines during the second quarter worth approximately $203,000. SG Americas Securities LLC raised its stake in shares of Blueprint Medicines by 23.3% during the second quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock worth $208,000 after acquiring an additional 778 shares in the last quarter. Finally, Turner Investments LLC purchased a new position in shares of Blueprint Medicines during the third quarter worth approximately $209,000. 83.54% of the stock is currently owned by hedge funds and other institutional investors.

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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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