Blueprint Medicines Co. (NASDAQ:BPMC) Receives Average Recommendation of “Moderate Buy” from Analysts

Blueprint Medicines Co. (NASDAQ:BPMC) has earned an average rating of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $124.95.

Several analysts have weighed in on BPMC shares. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price target on shares of Blueprint Medicines in a research note on Thursday, February 13th. Wedbush restated an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Scotiabank initiated coverage on Blueprint Medicines in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th.

Insider Buying and Selling

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $102.28, for a total transaction of $511,400.00. Following the completion of the transaction, the director now owns 157,557 shares of the company’s stock, valued at $16,114,929.96. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares of the company’s stock, valued at $1,692,167.40. The trade was a 14.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,334 shares of company stock valued at $3,103,512. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently made changes to their positions in BPMC. Vanguard Group Inc. increased its holdings in shares of Blueprint Medicines by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock valued at $590,905,000 after purchasing an additional 91,450 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Blueprint Medicines by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock valued at $495,331,000 after purchasing an additional 291,822 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after purchasing an additional 316,754 shares during the last quarter. State Street Corp increased 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 purchasing an additional 385,818 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Blueprint Medicines by 16.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock valued at $169,616,000 after purchasing an additional 269,896 shares during the last quarter.

Blueprint Medicines Stock Down 2.2 %

Blueprint Medicines stock opened at $88.47 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The business’s 50-day simple moving average is $99.45 and its two-hundred day simple moving average is $93.92. The company has a market cap of $5.65 billion, a PE ratio of -81.92 and a beta of 0.58. Blueprint Medicines has a fifty-two week low of $80.68 and a fifty-two week high of $121.90.

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

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.