Canaccord Genuity Initiates Coverage on Blueprint Medicines Corp to Buy

Canaccord Genuity Initiates Coverage on Blueprint Medicines Corp(NASDAQ:BPMC). The shares have been rated Buy. The rating by Canaccord Genuity was issued on Aug 5, 2016.

In a different note, Raymond James said it Initiates Coverage on Blueprint Medicines Corp, according to a research note issued on May 27, 2016. The shares have been rated ‘Outperform’ by the firm.

Blueprint Medicines Corp (BPMC) made into the market gainers list on Wednesdays trading session with the shares advancing 0.76% or 0.2 points. Due to strong positive momentum, the stock ended at $26.45, which is also near the day’s high of $26.905. The stock began the session at $26.28 and the volume stood at 2,94,687 shares. The 52-week high of the shares is $31.9399 and the 52 week low is $13.04. The company has a current market capitalization of $722 M and it has 2,72,81,750 shares in outstanding.

Blueprint Medicines Corp(BPMC) last announced its earnings results on May 10, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $6.86M. Analysts had an estimated revenue of $3.24M. Earnings per share were $-0.57. Analysts had estimated an EPS of $-0.70.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Jeffrey W. Albers (CEO and President) sold 17,000 shares at $20.03 per share price.Also, On Apr 14, 2016, Christoph Lengauer (Chief Scientific Officer) sold 15,872 shares at $20.01 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.

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