Published On: Wed, Sep 14th, 2016

Blueprint Medicines Corp. (BPMC) Shares Up 7.9%

Blueprint Medicines Corp. (NASDAQ:BPMC) shares shot up 7.9% during trading on Wednesday . The company traded as high as $27.73 and last traded at $27.60, with a volume of 166,607 shares trading hands. The stock had previously closed at $25.59.
A number of research firms recently commented on BPMC. Wedbush reaffirmed an “outperform” rating and issued a $41.00 price target on shares of Blueprint Medicines Corp. in a research note on Tuesday, August 9th. Canaccord Genuity initiated coverage on Blueprint Medicines Corp. in a research report on Friday, August 5th. They issued a “buy” rating and a $26.00 target price on the stock. TheStreet upgraded Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded Blueprint Medicines Corp. from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, August 11th. Finally, Cowen and Company reiterated a “buy” rating on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $29.43.
The firm has a 50 day moving average of $25.38 and a 200-day moving average of $20.16. The stock’s market cap is $743.84 million.

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Blueprint Medicines Corp. (NASDAQ:BPMC) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.03. Blueprint Medicines Corp. had a negative return on equity of 46.01% and a negative net margin of 284.85%. The firm earned $7.07 million during the quarter, compared to analysts’ expectations of $4.41 million. During the same quarter in the previous year, the business earned ($0.81) earnings per share. The company’s revenue was up 163.0% on a year-over-year basis. On average, equities analysts anticipate that Blueprint Medicines Corp. will post ($3.05) EPS for the current year.
In other news, CEO Jeffrey W. Albers sold 17,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $22.86, for a total value of $388,620.00. Following the completion of the transaction, the chief executive officer now owns 76,494 shares in the company, valued at $1,748,652.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.93% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BVF Inc. IL boosted its position in Blueprint Medicines Corp. by 15.9% in the first quarter. BVF Inc. IL now owns 2,640,251 shares of the company’s stock valued at $47,657,000 after buying an additional 361,792 shares in the last quarter. BlackRock Fund Advisors boosted its position in Blueprint Medicines Corp. by 46.8% in the second quarter. BlackRock Fund Advisors now owns 871,793 shares of the company’s stock valued at $17,654,000 after buying an additional 277,781 shares in the last quarter. State Street Corp boosted its position in Blueprint Medicines Corp. by 142.4% in the second quarter. State Street Corp now owns 325,396 shares of the company’s stock valued at $6,587,000 after buying an additional 191,138 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Blueprint Medicines Corp. by 41.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 328,630 shares of the company’s stock valued at $6,655,000 after buying an additional 96,761 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Blueprint Medicines Corp. by 65.9% in the second quarter. Lord Abbett & CO. LLC now owns 210,581 shares of the company’s stock valued at $4,264,000 after buying an additional 83,677 shares in the last quarter. Hedge funds and other institutional investors own 93.68% 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. The Company focuses on crafting drug candidates with therapeutic windows that provide clinical responses to patients without adequate treatment options.

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