ValuEngine Downgrades Blueprint Medicines (BPMC) to Sell

ValuEngine downgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a research report report published on Friday morning.

Several other analysts also recently commented on the company. Zacks Investment Research downgraded Blueprint Medicines from a hold rating to a sell rating in a research note on Friday, August 4th. Cowen reaffirmed a buy rating on shares of Blueprint Medicines in a research note on Friday, November 10th. Canaccord Genuity reaffirmed a buy rating and set a $80.00 price objective (up from $66.00) on shares of Blueprint Medicines in a research note on Wednesday, November 1st. Morgan Stanley upped their price objective on Blueprint Medicines from $45.00 to $78.00 and gave the company an overweight rating in a research note on Monday, October 23rd. Finally, BTIG Research started coverage on Blueprint Medicines in a research note on Friday, September 29th. They set a buy rating and a $90.00 price objective for the company. Two research analysts have rated the stock with a sell rating and ten have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $70.47.

Shares of Blueprint Medicines (BPMC) opened at $69.71 on Friday. The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.02. Blueprint Medicines has a 1 year low of $25.08 and a 1 year high of $77.91.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results 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). The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $5.35 million. Blueprint Medicines had a negative net margin of 437.83% and a negative return on equity of 43.11%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the company earned ($0.62) earnings per share. equities research analysts anticipate that Blueprint Medicines will post -3.76 EPS for the current fiscal year.

In other news, CEO Jeffrey W. Albers sold 30,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Lynch sold 2,500 shares of the 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 of the company’s stock, valued at $12,560,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,639 shares of company stock valued at $4,871,743. 3.40% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. FMR LLC raised its stake in shares of Blueprint Medicines by 10.8% during the 2nd quarter. FMR LLC now owns 5,300,589 shares of the biotechnology company’s stock worth $268,581,000 after buying an additional 516,835 shares in the last quarter. BlackRock Inc. raised its stake in shares of Blueprint Medicines by 39.6% during the 2nd quarter. BlackRock Inc. now owns 2,864,255 shares of the biotechnology company’s stock worth $145,131,000 after buying an additional 811,820 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Blueprint Medicines by 0.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,729,169 shares of the biotechnology company’s stock worth $87,617,000 after buying an additional 8,903 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Blueprint Medicines by 16.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,415,963 shares of the biotechnology company’s stock worth $71,746,000 after buying an additional 195,517 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Blueprint Medicines by 76.8% during the 2nd quarter. State Street Corp now owns 1,400,035 shares of the biotechnology company’s stock worth $70,936,000 after buying an additional 608,296 shares in the last quarter. 91.40% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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