Blueprint Medicines (NASDAQ:BPMC) Research Coverage Started at Morgan Stanley

Morgan Stanley started coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note published on Thursday, Marketbeat reports. The brokerage issued an equal weight rating and a $100.00 price objective on the biotechnology company’s stock.

Several other analysts also recently issued reports on BPMC. Piper Sandler upped their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. HC Wainwright reiterated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. JPMorgan Chase & Co. increased their target price on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Scotiabank assumed coverage on Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $88.72 on Thursday. Blueprint Medicines has a fifty-two week low of $80.68 and a fifty-two week high of $121.90. The stock’s 50-day moving average is $99.47 and its two-hundred day moving average is $93.88. The firm has a market cap of $5.67 billion, a P/E ratio of -82.15 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, analysts anticipate that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $102.28, for a total transaction of $511,400.00. Following the transaction, the director now owns 157,557 shares in the company, valued at approximately $16,114,929.96. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares of the company’s stock, valued at approximately $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,334 shares of company stock valued at $3,103,512 over the last three months. 4.21% of the stock is owned by insiders.

Institutional Trading of Blueprint Medicines

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter valued at about $32,000. R Squared Ltd bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $51,000. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $65,000. Thematics Asset Management bought a new stake in Blueprint Medicines during the 4th quarter worth approximately $72,000. Finally, Covestor Ltd increased its stake in Blueprint Medicines by 62.7% during the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 375 shares in the last quarter.

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.