Wedbush Equities Analysts Raise Earnings Estimates for Blueprint Medicines Corp (BPMC)

Blueprint Medicines Corp (NASDAQ:BPMC) – Stock analysts at Wedbush raised their Q2 2017 earnings per share (EPS) estimates for Blueprint Medicines Corp in a research note issued to investors on Wednesday, according to Zacks Investment Research. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will post earnings of ($0.68) per share for the quarter, up from their prior estimate of ($0.80). Wedbush currently has a “Outperform” rating and a $50.00 price target on the stock. Wedbush also issued estimates for Blueprint Medicines Corp’s Q3 2017 earnings at ($0.75) EPS, Q4 2017 earnings at ($0.83) EPS, FY2017 earnings at ($2.98) EPS, FY2018 earnings at ($3.96) EPS, FY2019 earnings at ($4.16) EPS, FY2020 earnings at ($4.07) EPS and FY2021 earnings at ($2.82) EPS.

Blueprint Medicines Corp (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, March 9th. The biotechnology company reported ($0.75) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.01. Blueprint Medicines Corp had a negative return on equity of 55.22% and a negative net margin of 270.30%. The firm had revenue of $7.69 million for the quarter, compared to analysts’ expectations of $6.31 million. During the same quarter last year, the firm posted ($0.58) EPS. The company’s revenue was up 65.9% compared to the same quarter last year.

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Earnings History and Estimates for Blueprint Medicines Corp (NASDAQ:BPMC)

BPMC has been the topic of a number of other reports. JMP Securities initiated coverage on Blueprint Medicines Corp in a research report on Wednesday, March 22nd. They set an “outperform” rating and a $46.00 price objective on the stock. Morgan Stanley initiated coverage on Blueprint Medicines Corp in a research report on Wednesday, February 15th. They set an “overweight” rating and a $45.00 price objective on the stock. Zacks Investment Research downgraded Blueprint Medicines Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 7th. Goldman Sachs Group Inc upgraded Blueprint Medicines Corp from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Monday, March 13th. Finally, Canaccord Genuity increased their price target on Blueprint Medicines Corp from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, April 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Blueprint Medicines Corp currently has an average rating of “Buy” and an average target price of $41.69.

Blueprint Medicines Corp (NASDAQ:BPMC) traded down 1.91% during mid-day trading on Friday, hitting $45.12. The company’s stock had a trading volume of 266,255 shares. Blueprint Medicines Corp has a 52-week low of $13.27 and a 52-week high of $47.40. The company’s 50 day moving average is $41.28 and its 200-day moving average is $34.00. The stock’s market cap is $1.49 billion.

A number of hedge funds have recently made changes to their positions in BPMC. Pacad Investment Ltd. bought a new stake in shares of Blueprint Medicines Corp during the fourth quarter valued at about $104,000. Verde Servicos Internacionais S.A. bought a new stake in shares of Blueprint Medicines Corp during the first quarter valued at about $199,000. Dumont & Blake Investment Advisors LLC bought a new stake in shares of Blueprint Medicines Corp during the third quarter valued at about $267,000. AQR Capital Management LLC bought a new stake in shares of Blueprint Medicines Corp during the fourth quarter valued at about $289,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Blueprint Medicines Corp during the fourth quarter valued at about $305,000. 59.51% of the stock is currently owned by institutional investors and hedge funds.

In other Blueprint Medicines Corp news, major shareholder Rock Ventures Ii L.P. Third sold 1,000,000 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $35.28, for a total transaction of $35,280,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Mark J. Levin sold 30,000 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $40.88, for a total value of $1,226,400.00. Following the sale, the insider now directly owns 116,444 shares in the company, valued at approximately $4,760,230.72. The disclosure for this sale can be found here. Company insiders own 3.93% of the company’s stock.

About Blueprint Medicines Corp

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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