Blueprint Medicines (NASDAQ:BPMC) Now Covered by Morgan Stanley

Morgan Stanley began coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $100.00 price target on the biotechnology company’s stock. Morgan Stanley’s price objective points to a potential upside of 12.71% from the stock’s current price.

Several other analysts have also issued reports on the company. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a research report on Thursday, February 13th. Stephens reiterated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group initiated coverage on Blueprint Medicines in a research report on Monday, March 17th. They issued a “buy” rating and a $135.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.95.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $88.72 on Thursday. The firm has a market cap of $5.67 billion, a PE ratio of -82.15 and a beta of 0.58. The stock’s fifty day moving average price is $99.47 and its two-hundred day moving average price is $93.88. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines has a 1 year low of $80.68 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its 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 net margin of 13.19% and a negative return on equity of 77.49%. On average, equities research analysts forecast that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Activity

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,161 shares of the company’s stock in a transaction that occurred on 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 $16,691,933.88. This represents a 9.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the company’s 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 quarter, insiders sold 29,334 shares of company stock valued at $3,103,512. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in Blueprint Medicines during the 3rd quarter valued at approximately $32,000. R Squared Ltd bought a new position in Blueprint Medicines during the 4th quarter valued at approximately $51,000. Headlands Technologies LLC bought a new position in shares of Blueprint Medicines in the 4th quarter worth approximately $65,000. Thematics Asset Management bought a new position in shares of Blueprint Medicines in the 4th quarter worth approximately $72,000. Finally, Covestor Ltd raised its position in shares of Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after acquiring an additional 375 shares in the last quarter.

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.