Blueprint Medicines Corporation BPMC reported a loss of $1.72 per share in the first quarter of 2021, narrower than the Zacks Consensus Estimate of $1.80 and the year-ago quarter’s loss of $2.11.Total revenues of $21.6 million were up significantly year over year, mainly due to higher collaboration and product revenues. However, the top line missed the Zacks Consensus Estimate of $24.7 million. Revenues include $7.1 million of net product revenues from the sales of Ayvakit (avapritinib) and $1.8 million from the newly approved Gavreto (pralsetinib). Collaboration revenues were $12.6 million, primarily drawn from the agreements with CStone and Roche RHHBY. In the year-ago quarter, Blueprint Medicines recorded $2.7 million as collaboration revenues.Shares of Blueprint Medicines have plunged 11.8% so far this year compared with industry’s decrease of 0.6%.Quarter in DetailResearch and development expenses were $79.7 million, down 5.2% from the year-ago quarter’s figure, mainly owing to the reimbursement received under the Roche collaboration deal for Gavreto.Selling, general and administrative expenses were $42 million, up 17.6% year over year on account of higher costs related to the commercialization of Ayvakit/Ayvakyt (brand name of Ayvakit in Europe) and Gavreto.Blueprint Medicines had cash, cash equivalents and investments worth $1.4 billion as of Mar 31, 2021, marginally lower than $1.5 billion as of Dec 31, 2020.Ayvakit & Other Pipeline UpdatesIn March 2021, the European Medicines Agency validated Blueprint Medicines’ Type II variation marketing authorization application seeking approval for Ayvakyt for the treatment of advanced systemic mastocytosis (“SM”), a rare and debilitating disease.In February 2021, the FDA accepted Blueprint Medicines’ supplemental new drug application (sNDA) seeking approval of Ayvakit for treating advanced SM. With the FDA granting a priority review to the sNDA, a decision from the regulatory body is expected on Jun 16, 2021. A potential label expansion should also drive sales in the days ahead.Please note that Ayvakit was approved by the FDA for treating unresectable or metastatic gastrointestinal stromal tumor (“GIST”) harboring a PDGFRA exon 18 mutation, including PDGFRA D842V mutations in adults, in January 2020. Sales of the drug increased 18.3% on a sequential basis during the first quarter.Please note that, last December, the FDA approved Gavreto (pralsetinib) for the treatment of patients with advanced/metastatic rearranged during transfection (“RET”)-mutant and RET fusion-positive thyroid cancer. In September 2020, the FDA approved Gavreto for the treatment of adults with metastatic RET fusion-positive non-small-cell lung cancer (“NSCLC”).Blueprint Medicines Corporation Price, Consensus and EPS Surprise Blueprint Medicines Corporation price-consensus-eps-surprise-chart | Blueprint Medicines Corporation QuoteZacks Rank & Stocks to ConsiderBlueprint Medicines currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the biotech sector include ASLAN Pharmaceuticals Limited ASLN and Nabriva Therapeutics AG NBRV , both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.ASLAN Pharmaceuticals’ loss per share estimates have narrowed 26.3% for 2021 and 43.9% for 2022 over the past 60 days. The stock has surged 75.9% year to date.Nabriva Therapeutics’ loss per share estimates have narrowed 40.9% for 2021 and 45.3% for 2022 over the past 60 days.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report Blueprint Medicines Corporation (BPMC): Free Stock Analysis Report Nabriva Therapeutics AG (NBRV): Free Stock Analysis Report ASLAN Pharmaceuticals Ltd. (ASLN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research