Blueprint Medicines (NASDAQ: BPMC – Get Rating) was downgraded by equities researchers at Citigroup from a “neutral” rating to a “sell” rating in a report released on Thursday, MarketBeat reports. They presently have a $ 41.00 target price on the biotechnology company stock, down from their prior target price of $ 68.00. Citigroup’s price objective points to a potential downside of 14.71% from the stock’s current price.
BPMC has been the topic of several other reports. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. Wedbush reaffirmed an “outperform” rating and set a $ 126.00 price target on shares of Blueprint Medicines in a research note on Monday, February 28th. Robert W. Baird decreased their price target on Blueprint Medicines from $ 123.00 to $ 96.00 in a research note on Wednesday, May 4th. SVB Leerink decreased their price target on Blueprint Medicines from $ 93.00 to $ 82.00 and set a “market perform” rating for the company in a research note on Thursday, February 17th. Finally, JMP Securities reaffirmed a “buy” rating and set a $ 152.00 price target on shares of Blueprint Medicines in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $ 99.33.
BPMC opened at $ 48.07 on Thursday. Blueprint Medicines has a 12 month low of $ 47.71 and a 12 month high of $ 117.86. The stock has a market cap of $ 2.86 billion, a P / E ratio of -4.35 and a beta of 0.97. The stock’s 50 day moving average price is $ 60.46 and its 200 day moving average price is $ 73.73.
Blueprint Medicines (NASDAQ: BPMC – Get Rating) last posted its earnings results on Tuesday, May 3rd. The biotechnology company reported ($ 1.79) EPS for the quarter, beating the consensus estimate of ($ 1.80) by $ 0.01. Blueprint Medicines had a negative return on equity of 35.24% and a negative net margin of 293.97%. The firm had revenue of $ 62.70 million for the quarter, compared to analysts’ expectations of $ 39.98 million. During the same period last year, the firm earned ($ 1.72) EPS. The firm’s revenue was up 190.3% compared to the same quarter last year. As a group, equities analysts predict that Blueprint Medicines will post -8.21 EPS for the current fiscal year.
In other news, insider Percy H. Carter sold 1,908 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $ 59.76, for a total value of $ 114,022.08. Following the completion of the sale, the insider now owns 28,685 shares of the company stock, valued at $ 1,714,215.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $ 70.11, for a total value of $ 350,550.00. Following the completion of the sale, the chief executive officer now directly owns 183,243 shares of the company stock, valued at approximately $ 12,847,166.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,127 shares of company stock valued at $ 597,712. Corporate insiders own 3.34% of the company stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Blueprint Medicines by 0.9% in the first quarter. BlackRock Inc. now owns 5,383,138 shares of the biotechnology company stock worth $ 343,876,000 after buying an additional 46,264 shares during the period. Wellington Management Group LLP boosted its position in shares of Blueprint Medicines by 12.4% in the first quarter. Wellington Management Group LLP now owns 3,908,944 shares of the biotechnology company stock worth $ 249,703,000 after buying an additional 431,619 shares during the period. State Street Corp raised its holdings in shares of Blueprint Medicines by 30.9% during the first quarter. State Street Corp now owns 2,266,894 shares of the biotechnology company stock worth $ 144,809,000 after acquiring an additional 535,424 shares in the last quarter. Cadian Capital Management LP raised its holdings in shares of Blueprint Medicines by 326.3% during the first quarter. Cadian Capital Management LP now owns 1,921,347 shares of the biotechnology company stock worth $ 122,736,000 after acquiring an additional 1,470,690 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Blueprint Medicines by 1.8% during the fourth quarter. William Blair Investment Management LLC now owns 1,747,721 shares of the biotechnology company stock worth $ 187,198,000 after acquiring an additional 30,557 shares in the last quarter. 99.69% of the stock is owned by institutional investors and hedge funds.
About Blueprint Medicines: (Get Rating)
Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.
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