Blueprint Medicines’ (BPMC) Overweight Rating Reaffirmed at Stephens

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a report released on Thursday,Benzinga reports. They presently have a $140.00 target price on the biotechnology company’s stock. Stephens’ price objective would indicate a potential upside of 60.51% from the stock’s current price.

BPMC has been the topic of several other reports. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, December 9th. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, UBS Group assumed coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

Blueprint Medicines Trading Up 0.5 %

Shares of NASDAQ:BPMC opened at $87.22 on Thursday. Blueprint Medicines has a twelve month low of $72.24 and a twelve month high of $121.90. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The firm has a market cap of $5.54 billion, a P/E ratio of -41.34 and a beta of 0.59. The company has a 50 day moving average of $92.84 and a 200-day moving average of $96.20.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the company posted ($2.20) EPS. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. As a group, analysts anticipate that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 15,000 shares of Blueprint Medicines stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the sale, the director now owns 157,557 shares of the company’s stock, valued at approximately $14,143,891.89. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $95.91, for a total value of $218,099.34. Following the sale, the chief operating officer now directly owns 69,383 shares in the company, valued at $6,654,523.53. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,720 shares of company stock worth $2,177,846. Corporate insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after buying an additional 729,055 shares during the period. Millennium Management LLC raised its stake in Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after buying an additional 529,566 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Blueprint Medicines by 200,159.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after acquiring an additional 502,400 shares in the last quarter. State Street Corp lifted its stake in Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after buying an additional 385,818 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Blueprint Medicines by 161.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after purchasing an additional 306,079 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.