Blueprint Medicines (NASDAQ:BPMC) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a sell rating to a hold rating in a report published on Friday.

Other analysts have also issued reports about the stock. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their price target on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research report on Wednesday, October 30th. UBS Group started coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. Finally, Robert W. Baird raised their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.39.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $99.87 on Friday. The stock has a 50-day simple moving average of $89.30 and a 200 day simple moving average of $98.90. Blueprint Medicines has a twelve month low of $56.74 and a twelve month high of $121.90. The stock has a market capitalization of $6.34 billion, a PE ratio of -47.33 and a beta of 0.59. 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 issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.20) earnings per share. Research analysts anticipate that Blueprint Medicines will post -3.61 EPS for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.21% of the stock is currently owned by company insiders.

Institutional Trading of Blueprint Medicines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in Blueprint Medicines in the third quarter valued at approximately $1,712,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Blueprint Medicines in the 3rd quarter valued at $6,465,000. Advisors Asset Management Inc. boosted its position in shares of Blueprint Medicines by 17.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 5,054 shares of the biotechnology company’s stock worth $467,000 after purchasing an additional 756 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Blueprint Medicines during the third quarter worth $475,000. Finally, Segall Bryant & Hamill LLC increased its holdings in Blueprint Medicines by 11.6% in the third quarter. Segall Bryant & Hamill LLC now owns 141,622 shares of the biotechnology company’s stock valued at $13,100,000 after purchasing an additional 14,668 shares during 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.