HC Wainwright Reiterates Buy Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 52.22% from the stock’s current price.

BPMC has been the topic of a number of other reports. Wells Fargo & Company cut their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a research note on Thursday. They set an “overweight” rating and a $126.00 price objective on the stock. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Guggenheim increased their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.11.

Blueprint Medicines Trading Down 7.3 %

NASDAQ BPMC opened at $88.69 on Friday. The stock has a market cap of $5.63 billion, a P/E ratio of -42.03 and a beta of 0.59. The company’s fifty day simple moving average is $89.59 and its 200-day simple moving average is $98.91. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 52 week low of $62.56 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data 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. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the prior year, the company posted ($2.20) EPS. The firm’s revenue for the quarter was up 126.5% on a year-over-year basis. Equities research analysts predict that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

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

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.