JMP Securities Reiterates Market Outperform Rating for Blueprint Medicines (NASDAQ:BPMC)

JMP Securities restated their market outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $125.00 price target on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Monday, January 13th. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $122.72.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $110.05 on Wednesday. The stock’s fifty day moving average is $94.09 and its 200-day moving average is $95.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The stock has a market capitalization of $6.99 billion, a PE ratio of -52.16 and a beta of 0.61. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.20) earnings per share. Equities research analysts expect that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $100.00, for a total value of $225,000.00. Following the sale, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares in the company, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,970 shares of company stock valued at $2,914,246 over the last 90 days. 4.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of BPMC. Federated Hermes Inc. raised its position 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 acquired a new stake in Blueprint Medicines in the 2nd quarter valued at approximately $18,273,000. Citizens Financial Group Inc. RI acquired a new stake in Blueprint Medicines in the 2nd quarter valued at approximately $423,000. Renaissance Technologies LLC raised its position in Blueprint Medicines by 132.4% in the 2nd quarter. Renaissance Technologies LLC now owns 110,400 shares of the biotechnology company’s stock valued at $11,899,000 after buying an additional 62,900 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Blueprint Medicines during the 2nd quarter worth approximately $1,113,000.

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.