Blueprint Medicines (NASDAQ:BPMC) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report issued on Wednesday, Marketbeat Ratings reports. Wedbush currently has a $128.00 price objective on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on BPMC. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. Scotiabank assumed coverage on Blueprint Medicines in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price objective for the company. StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Stephens reaffirmed an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $133.00 price objective on shares of Blueprint Medicines in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines Trading Up 0.8 %

NASDAQ BPMC opened at $82.11 on Wednesday. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. Blueprint Medicines has a 12 month low of $73.04 and a 12 month high of $121.90. The company has a market capitalization of $5.25 billion, a PE ratio of -76.03 and a beta of 0.75. The stock has a 50-day simple moving average of $89.33 and a 200 day simple moving average of $93.31.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Activity

In other 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 sale, the chief executive officer now directly owns 149,378 shares of the company’s stock, valued at approximately $16,467,430.72. This represents a 0.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 15,161 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the completion of the sale, the director now owns 152,396 shares of the company’s stock, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,358 shares of company stock valued at $2,583,187. 4.21% of the stock is owned by insiders.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently made changes to their positions in BPMC. Avoro Capital Advisors LLC bought a new stake in Blueprint Medicines in the 4th quarter valued at $103,356,000. Norges Bank bought a new position in shares of Blueprint Medicines in the fourth quarter valued at about $62,028,000. Jennison Associates LLC acquired a new stake in shares of Blueprint Medicines during the 4th quarter worth about $31,417,000. Rock Springs Capital Management LP boosted its holdings in shares of Blueprint Medicines by 42.7% during the 4th quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company’s stock worth $95,672,000 after buying an additional 328,123 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Blueprint Medicines by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock worth $373,421,000 after buying an additional 316,754 shares during the period.

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.