Wedbush Reiterates Outperform Rating for Blueprint Medicines (NASDAQ:BPMC)

Wedbush reissued their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report report published on Thursday,RTT News reports. The firm currently has a $135.00 price target on the biotechnology company’s stock.

A number of other research analysts have also commented on the company. Robert W. Baird upped their price target on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $133.00 price objective on shares of Blueprint Medicines in a research report on Wednesday, October 30th. Guggenheim raised their target price 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. Barclays boosted their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, UBS Group started coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $88.69 on Thursday. 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 has a fifty-two week low of $62.56 and a fifty-two week high of $121.90. The business has a 50 day moving average price of $89.59 and a 200-day moving average price of $98.94. The firm has a market cap of $5.63 billion, a PE ratio of -42.03 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping 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 business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same quarter last year, the firm earned ($2.20) EPS. The company’s revenue was up 126.5% on a year-over-year basis. Equities research analysts predict that Blueprint Medicines will post -3.61 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Amalgamated Bank grew its position in 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 buying an additional 109 shares during the period. Van ECK Associates Corp grew its stake in shares of Blueprint Medicines by 13.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after acquiring an additional 131 shares during the period. EFG Asset Management North America Corp. increased its holdings in Blueprint Medicines by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock worth $3,008,000 after acquiring an additional 132 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in 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 acquiring an additional 176 shares during the period. Finally, US Bancorp DE lifted its holdings in Blueprint Medicines by 5.2% during 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 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.