Blueprint Medicines Co. (NASDAQ:BPMC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $120.00.

A number of analysts have commented on BPMC shares. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Morgan Stanley increased their price target on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Barclays boosted their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Guggenheim raised their target price on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Oppenheimer lifted their price target on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, July 8th.

Blueprint Medicines Stock Down 0.5 %

Shares of BPMC opened at $85.61 on Tuesday. The stock has a 50 day moving average price of $90.49 and a 200 day moving average price of $98.83. Blueprint Medicines has a one year low of $43.89 and a one year high of $121.90. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -17.80 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. The business had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The company’s revenue for the quarter was up 139.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.19) earnings per share. Equities research analysts forecast that Blueprint Medicines will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the sale, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds have recently bought and sold shares of BPMC. Triad Wealth Partners LLC purchased a new stake in shares of Blueprint Medicines during the second quarter worth approximately $27,000. Covestor Ltd increased its position in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares in the last quarter. Natixis purchased a new stake in shares of Blueprint Medicines during the 1st quarter worth $73,000. Finally, CWM LLC grew its stake in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares in the last quarter.

About Blueprint Medicines

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.