Blueprint Medicines (NASDAQ:BPMC) Receives Overweight Rating from Stephens

Stephens reissued their overweight rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $140.00 price objective on the biotechnology company’s stock.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company cut their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. UBS Group assumed coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, December 9th. Finally, Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

Blueprint Medicines Trading Down 0.0 %

Shares of BPMC stock opened at $87.20 on Thursday. Blueprint Medicines has a fifty-two week low of $72.24 and a fifty-two week high of $121.90. The firm has a market capitalization of $5.54 billion, a P/E ratio of -41.33 and a beta of 0.59. The stock’s fifty day moving average is $92.92 and its two-hundred day moving average is $96.14. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines’s quarterly revenue was up 126.5% on a year-over-year basis. During the same period in the previous year, the business posted ($2.20) earnings per share. Research analysts expect that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey W. Albers sold 15,000 shares of Blueprint Medicines stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the sale, the director now directly owns 157,557 shares of the company’s stock, valued at approximately $14,143,891.89. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,720 shares of company stock worth $2,177,846 over the last 90 days. Corporate insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new stake in Blueprint Medicines during the second quarter worth approximately $1,060,000. Federated Hermes Inc. raised its stake in Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after acquiring an additional 13,579 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Blueprint Medicines by 48.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock valued at $23,332,000 after acquiring an additional 82,693 shares during the last quarter. Nicholas Investment Partners LP purchased a new stake in Blueprint Medicines in the second quarter valued at $4,377,000. Finally, Entropy Technologies LP acquired a new position in Blueprint Medicines in the third quarter valued at $999,000.

Blueprint Medicines Company Profile

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.