Blueprint Medicines’ (BPMC) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has a $124.00 target price on the biotechnology company’s stock, down from their prior target price of $135.00.

A number of other research analysts have also commented on BPMC. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. UBS Group started coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Monday. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. started coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.72.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC opened at $104.89 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The stock’s fifty day moving average price is $93.75 and its two-hundred day moving average price is $95.29. Blueprint Medicines has a one year low of $72.24 and a one year high of $121.90. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of -49.71 and a beta of 0.61.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period in the prior year, the firm posted ($2.20) EPS. The company’s revenue for the quarter was up 126.5% on a year-over-year basis. On average, equities analysts forecast that Blueprint Medicines will post -3.68 EPS for the current year.

Insider Buying and Selling

In other news, insider Ariel Hurley sold 1,819 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the sale, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,970 shares of company stock worth $2,914,246 in the last ninety days. 4.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds have recently added to or reduced their stakes in BPMC. Wellington Management Group LLP lifted its holdings in shares of Blueprint Medicines by 22.5% in 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 in the last quarter. Millennium Management LLC grew its position in Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after buying an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Blueprint Medicines by 200,159.4% during the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after purchasing an additional 502,400 shares during the last quarter. State Street Corp lifted its stake in Blueprint Medicines by 16.2% during the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after purchasing an additional 385,818 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Blueprint Medicines by 161.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after purchasing an additional 306,079 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.