Does This Provide a Reason to Buy Blueprint Medicines Corporation (BPMC)? The Stock Has Formed Bullish Double Top

April 21, 2018 - By Kurt Siggers

Blueprint Medicines Corporation (NASDAQ:BPMC) Logo

The chart of Blueprint Medicines Corporation (BPMC) shows a double top with $87.70 target or 7.00 % above today’s $81.96 share price. The 7 months chart pattern indicates low risk for the $3.58 billion company. It was reported on Apr, 21 by Finviz.com. If the $87.70 price target is reached, the company will be worth $250.74M more. Double tops are rare but powerful chart patterns.

The stock decreased 1.55% or $1.29 during the last trading session, reaching $81.96. About 403,993 shares traded or 9.71% up from the average. Blueprint Medicines Corporation (NASDAQ:BPMC) has risen 101.73% since April 21, 2017 and is uptrending. It has outperformed by 90.18% the S&P500.

Analysts await Blueprint Medicines Corporation (NASDAQ:BPMC) to report earnings on May, 2. They expect $-1.09 earnings per share, down 29.76 % or $0.25 from last year’s $-0.84 per share. After $-1.23 actual earnings per share reported by Blueprint Medicines Corporation for the previous quarter, Wall Street now forecasts -11.38 % EPS growth.

Blueprint Medicines Corporation (NASDAQ:BPMC) Ratings Coverage

Among 8 analysts covering Blueprint Medicines (NASDAQ:BPMC), 8 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Blueprint Medicines had 11 analyst reports since October 23, 2017 according to SRatingsIntel. Canaccord Genuity maintained Blueprint Medicines Corporation (NASDAQ:BPMC) on Monday, April 16 with “Buy” rating. The stock has “Buy” rating by Jefferies on Friday, December 22. Canaccord Genuity maintained the stock with “Buy” rating in Wednesday, November 1 report. Wedbush maintained Blueprint Medicines Corporation (NASDAQ:BPMC) rating on Monday, November 6. Wedbush has “Buy” rating and $82.0 target. The stock of Blueprint Medicines Corporation (NASDAQ:BPMC) earned “Buy” rating by Goldman Sachs on Monday, December 11. BTIG Research maintained Blueprint Medicines Corporation (NASDAQ:BPMC) on Tuesday, October 31 with “Buy” rating. JMP Securities maintained Blueprint Medicines Corporation (NASDAQ:BPMC) on Monday, April 16 with “Buy” rating. BTIG Research maintained the stock with “Buy” rating in Monday, November 13 report. Wedbush maintained the stock with “Buy” rating in Monday, April 16 report. The firm has “Overweight” rating by Morgan Stanley given on Monday, October 23.

Blueprint Medicines Corporation (NASDAQ:BPMC) Ratings Chart

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