Blueprint Medicines (NASDAQ:BPMC) Rating Lowered to “Sell” at StockNews.com

StockNews.com lowered shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a research report report published on Thursday morning.

BPMC has been the subject of several other research reports. Robert W. Baird increased their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Thursday. Oppenheimer increased their price objective on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Wells Fargo & Company dropped their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Barclays raised their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.39.

Blueprint Medicines Trading Up 3.6 %

Shares of NASDAQ BPMC opened at $90.70 on Thursday. Blueprint Medicines has a 1-year low of $56.74 and a 1-year high of $121.90. The business has a fifty day moving average price of $88.79 and a 200 day moving average price of $98.48. The stock has a market capitalization of $5.76 billion, a P/E ratio of -42.99 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.65.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share 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 net margin of 29.48% and a negative return on equity of 112.30%. The company’s revenue was up 126.5% compared to the same quarter last year. During the same period last year, the business earned ($2.20) EPS. Equities research analysts expect that Blueprint Medicines will post -3.77 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently bought and sold shares of the business. Amalgamated Bank increased its position in shares of Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 109 shares in the last quarter. Van ECK Associates Corp raised its position in Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after acquiring an additional 131 shares during the period. EFG Asset Management North America Corp. lifted its holdings in Blueprint Medicines by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after purchasing an additional 132 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in Blueprint Medicines by 3.2% during the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after purchasing an additional 176 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Blueprint Medicines by 5.2% in the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 183 shares during the period.

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.