HC Wainwright Reaffirms Buy Rating for Blueprint Medicines (NASDAQ:BPMC)

HC Wainwright reaffirmed their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $135.00 price target on the biotechnology company’s stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a research note on Wednesday, October 30th. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a report on Thursday. They issued an “overweight” rating and a $126.00 target price on the stock. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Thursday. Finally, Wells Fargo & Company decreased their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Stock Performance

BPMC stock opened at $88.69 on Friday. The company has a market capitalization of $5.63 billion, a P/E ratio of -42.03 and a beta of 0.59. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The company has a 50-day simple moving average of $89.59 and a 200 day simple moving average of $98.94. Blueprint Medicines has a fifty-two week low of $62.56 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business’s revenue was up 126.5% on a year-over-year basis. During the same period last year, the firm posted ($2.20) earnings per share. Sell-side analysts predict that Blueprint Medicines will post -3.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Blueprint Medicines by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after buying an additional 20,703 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Blueprint Medicines by 13.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 22,557 shares of the biotechnology company’s stock valued at $2,087,000 after acquiring an additional 2,741 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Blueprint Medicines by 27.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,662 shares of the biotechnology company’s stock valued at $246,000 after acquiring an additional 576 shares in the last quarter. Zimmer Partners LP acquired a new stake in Blueprint Medicines in the 3rd quarter worth approximately $1,952,000. Finally, Wellington Management Group LLP grew its holdings in Blueprint Medicines by 22.5% during the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after purchasing an additional 729,055 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.