Blueprint Medicines (NASDAQ:BPMC) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note published on Monday, MarketBeat Ratings reports. Wedbush currently has a $124.00 price objective on the biotechnology company’s stock, down from their previous price objective of $135.00.

Other equities analysts have also issued reports about the company. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company reduced their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Stephens reiterated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. began coverage on Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.72.

Blueprint Medicines Trading Up 18.2 %

Shares of NASDAQ BPMC opened at $103.36 on Monday. The firm has a 50 day moving average price of $93.65 and a two-hundred day moving average price of $95.33. The stock has a market cap of $6.57 billion, a P/E ratio of -48.99 and a beta of 0.61. Blueprint Medicines has a 52-week low of $72.24 and a 52-week high of $121.90. 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 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. The business had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Blueprint Medicines’s quarterly revenue was up 126.5% on a year-over-year basis. During the same period in the prior year, the business posted ($2.20) earnings per share. As a group, equities analysts forecast that Blueprint Medicines will post -3.68 EPS for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the transaction, the chief executive officer now owns 150,824 shares in the company, valued at approximately $14,569,598.40. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,720 shares of company stock valued at $2,177,846. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently bought and sold shares of BPMC. Hsbc Holdings PLC bought a new position in shares of Blueprint Medicines during the second quarter valued at about $1,060,000. Federated Hermes Inc. increased its stake in Blueprint Medicines by 27.8% in the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after buying an additional 13,579 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Blueprint Medicines by 48.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock worth $23,332,000 after buying an additional 82,693 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Blueprint Medicines in the third quarter valued at approximately $999,000. Finally, Fred Alger Management LLC increased its position in shares of Blueprint Medicines by 187.3% during the second quarter. Fred Alger Management LLC now owns 48,588 shares of the biotechnology company’s stock valued at $5,237,000 after acquiring an additional 31,675 shares during 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.