Blueprint Medicines (NASDAQ:BPMC) Now Covered by Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report report published on Monday morning, Marketbeat reports. The firm issued a buy rating and a $135.00 price objective on the biotechnology company’s stock.

Several other equities research analysts also recently issued reports on BPMC. Wedbush reaffirmed an “outperform” rating and set a $128.00 price target on shares of Blueprint Medicines in a research note on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Finally, StockNews.com lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.70.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $92.14 on Monday. Blueprint Medicines has a twelve month low of $80.68 and a twelve month high of $121.90. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of -85.31 and a beta of 0.58. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm’s fifty day simple moving average is $99.59 and its 200 day simple moving average is $94.03.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. As a group, equities research analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the transaction, the chief executive officer now owns 149,378 shares in the company, valued at approximately $16,467,430.72. This represents a 0.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Albers sold 15,161 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the completion of the transaction, the director now owns 152,396 shares of the company’s stock, valued at approximately $16,691,933.88. This trade represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,608 shares of company stock worth $4,668,161 over the last quarter. 4.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BPMC. Avoro Capital Advisors LLC bought a new position in Blueprint Medicines in the 4th quarter worth about $103,356,000. Wellington Management Group LLP grew its position in Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after purchasing an additional 729,055 shares during the last quarter. Norges Bank bought a new position in Blueprint Medicines in the 4th quarter worth about $62,028,000. State Street Corp boosted its holdings in shares of 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 acquiring an additional 385,818 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Blueprint Medicines in the fourth quarter valued at approximately $31,417,000.

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.