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JMP Securities Thinks Blueprint Medicines’ Stock is Going to Recover

In a report released yesterday, Reni Benjamin from JMP Securities maintained a Buy rating on Blueprint Medicines (BPMCResearch Report), with a price target of $152.00. The company’s shares closed last Wednesday at $59.73, close to its 52-week low of $53.26.

According to TipRanks.com, Benjamin is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -10.5% and a 31.5% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Spectrum Pharmaceuticals, and Iovance Biotherapeutics.

Blueprint Medicines has an analyst consensus of Moderate Buy, with a price target consensus of $101.00.

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Based on Blueprint Medicines’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $107 million and GAAP net loss of $319 million. In comparison, last year the company earned revenue of $34.11 million and had a GAAP net loss of $85.67 million.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BPMC in relation to earlier this year.

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Blueprint Medicines Corp. is a precision therapy company. It focuses on medicines to improve the lives of patients with genomically defined cancers, rare diseases and cancer immunotherapy. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.

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