Blueprint Medicines’ (BPMC) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Monday,Benzinga reports. They currently have a $125.00 price objective on the biotechnology company’s stock.

A number of other research firms have also weighed in on BPMC. Guggenheim increased their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays raised their price target on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Wells Fargo & Company dropped their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have issued 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 $122.11.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $94.81 on Monday. The company has a fifty day moving average price of $90.00 and a 200-day moving average price of $98.70. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of -44.93 and a beta of 0.59. Blueprint Medicines has a 1 year low of $64.79 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm earned ($2.20) earnings per share. As a group, equities research analysts predict that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Triad Wealth Partners LLC acquired a new position in Blueprint Medicines during the 2nd quarter worth about $27,000. Covestor Ltd grew its stake in shares of Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 291 shares in the last quarter. Quarry LP bought a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $32,000. Natixis bought a new position in shares of Blueprint Medicines during the 1st quarter worth approximately $73,000. Finally, CWM LLC grew its stake in shares of Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 590 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.