Blueprint Medicines (NASDAQ:BPMC) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a report released on Thursday, MarketBeat Ratings reports. The firm issued an overweight rating and a $126.00 price objective on the biotechnology company’s stock.

BPMC has been the subject of several other reports. Wells Fargo & Company cut their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. UBS Group assumed coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, October 31st. Finally, Robert W. Baird lifted their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $122.11.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $88.69 on Thursday. Blueprint Medicines has a 1 year low of $62.56 and a 1 year high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The stock’s fifty day moving average price is $89.59 and its two-hundred day moving average price is $98.91. The firm has a market cap of $5.63 billion, a PE ratio of -42.03 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.20) EPS. On average, equities research analysts forecast that Blueprint Medicines will post -3.61 EPS for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Blueprint Medicines by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after purchasing an additional 195,007 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after buying an additional 821,868 shares during the period. Wellington Management Group LLP lifted its stake in shares of Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after acquiring an additional 729,055 shares during the last quarter. State Street Corp boosted its holdings in Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after acquiring an additional 385,818 shares during the period. Finally, Geode Capital Management LLC grew its position in Blueprint Medicines by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after acquiring an additional 20,703 shares during 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.