Blueprint Medicines (BPMC) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a report published on Friday.

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. “

Several other brokerages have also commented on BPMC. BidaskClub upgraded shares of Blueprint Medicines from a sell rating to a hold rating in a research note on Thursday, October 18th. Wedbush reiterated an outperform rating and issued a $101.00 price target on shares of Blueprint Medicines in a research note on Monday, October 8th. Guggenheim started coverage on shares of Blueprint Medicines in a research note on Tuesday, September 18th. They issued a buy rating and a $102.00 price target on the stock. Cowen reiterated a buy rating on shares of Blueprint Medicines in a research note on Sunday, October 7th. Finally, ValuEngine lowered shares of Blueprint Medicines from a strong-buy rating to a buy rating in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $97.14.

Blueprint Medicines stock traded up $0.01 during mid-day trading on Friday, hitting $65.76. The company had a trading volume of 223,446 shares, compared to its average volume of 426,745. The firm has a market capitalization of $2.89 billion, a P/E ratio of -16.78 and a beta of 1.46. Blueprint Medicines has a 1 year low of $57.44 and a 1 year high of $109.00. The company has a quick ratio of 12.36, a current ratio of 10.05 and a debt-to-equity ratio of 0.03.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Tuesday, October 30th. The biotechnology company reported ($1.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.57) by ($0.09). The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $1.87 million. Blueprint Medicines had a negative net margin of 455.15% and a negative return on equity of 36.72%. The business’s revenue for the quarter was down 86.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.96) earnings per share. As a group, research analysts expect that Blueprint Medicines will post -5.25 earnings per share for the current fiscal year.

In other news, insider Marion Dorsch sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $70.47, for a total transaction of $162,081.00. Following the transaction, the insider now directly owns 2,300 shares in the company, valued at $162,081. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $70.59, for a total transaction of $1,411,800.00. Following the transaction, the chief executive officer now owns 20,000 shares in the company, valued at $1,411,800. The disclosure for this sale can be found here. Company insiders own 3.15% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of Blueprint Medicines by 43.6% during the third quarter. American Century Companies Inc. now owns 84,708 shares of the biotechnology company’s stock worth $6,612,000 after purchasing an additional 25,726 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Blueprint Medicines by 65.1% during the third quarter. Wells Fargo & Company MN now owns 32,718 shares of the biotechnology company’s stock worth $2,554,000 after purchasing an additional 12,903 shares during the period. Comerica Bank acquired a new stake in shares of Blueprint Medicines during the third quarter worth $729,000. Victory Capital Management Inc. lifted its holdings in shares of Blueprint Medicines by 3.4% during the third quarter. Victory Capital Management Inc. now owns 454,562 shares of the biotechnology company’s stock worth $35,482,000 after purchasing an additional 15,080 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Blueprint Medicines by 56.7% during the third quarter. Public Employees Retirement Association of Colorado now owns 4,718 shares of the biotechnology company’s stock worth $368,000 after purchasing an additional 1,708 shares during the period. Institutional investors and hedge funds own 99.78% of the company’s stock.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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