Blueprint Medicines Corp (BPMC) is Initiated by Raymond James to Outperform, Price Target at $23

Blueprint Medicines Corp (BPMC) was Initiated by Raymond James to “Outperform” and the brokerage firm has set the Price Target at $23. Raymond James advised their investors in a research report released on May 27, 2016.

On the company’s financial health, Blueprint Medicines Corp reported $-0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on May 10, 2016. Analyst had a consensus of $-0.76. The company had revenue of $6.90 million for the quarter, compared to analysts expectations of $3.24 million. The company’s revenue was up 961.5% compared to the same quarter last year.

Blueprint Medicines Corp closed down -0.1 points or -0.55% at $18.13 with 1,52,531 shares getting traded on Wednesday. Post opening the session at $18.46, the shares hit an intraday low of $17.88 and an intraday high of $18.54 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 14, 2016, Christoph Lengauer (Chief Scientific Officer) sold 15,872 shares at $20.01 per share price. According to the SEC, on Apr 8, 2016, Jeffrey W. Albers (CEO and President) sold 17,000 shares at $20.42 per share price.

Blueprint Medicines Corporation (Blueprint) is a biopharmaceutical company. The Company is focused on improving the lives of patients with genomically defined diseases driven by abnormal kinase activation. The Company developed a molecule drug pipeline in cancer and a genetic disease. Its lead drug candidate BLU-285 targets KIT Exon 17 and PDGFRa D842V active receptor tyrosine kinase mutants that are drivers of cancer and proliferative disorders. The Company’s BLU-285 is developed for patients with systemic mastocytosis (SM) and defined subsets of patients with gastrointestinal stromal tumor (GIST). The Company’s Imatinib which is an inhibitor of KIT and PDGFRa is approved in SM and GIST. The Company’s other drug candidate is BLU-554 which targets FGFR4 a kinase that is activated and is a driver of disease in a defined subset of patients with hepatocellular carcinoma. The Company is also developing a drug candidate to target both RET and RET resistant mutants.

Blueprint Medicines Corp

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