Blueprint Medicines Co. (NASDAQ:BPMC) Given Average Recommendation of “Moderate Buy” by Brokerages

Blueprint Medicines Co. (NASDAQ:BPMC) has earned an average rating of “Moderate Buy” from the twenty-one analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $122.11.

A number of equities analysts have recently commented on BPMC shares. Wedbush restated an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. UBS Group started coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. Robert W. Baird raised their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Monday.

Blueprint Medicines Price Performance

BPMC opened at $94.81 on Friday. The company has a fifty day moving average price of $90.00 and a two-hundred day moving average price of $98.70. Blueprint Medicines has a 52 week low of $64.79 and a 52 week high of $121.90. The firm has a market capitalization of $6.02 billion, a PE ratio of -44.93 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 posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million for 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 revenue for the quarter was up 126.5% on a year-over-year basis. During the same period in the previous year, the company posted ($2.20) earnings per share. As a group, analysts anticipate that Blueprint Medicines will post -3.61 earnings per share for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now 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 SEC, which is available at this link. Corporate insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new stake in shares of Blueprint Medicines during the second quarter worth about $1,060,000. Comerica Bank increased its position in shares of Blueprint Medicines by 2,582.9% during the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after acquiring an additional 10,435 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Blueprint Medicines by 27.8% in the second quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after purchasing an additional 13,579 shares during the last quarter. SG Americas Securities LLC increased its stake in Blueprint Medicines by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock valued at $2,337,000 after buying an additional 9,819 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Blueprint Medicines by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after acquiring an additional 195,007 shares during the last quarter.

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.