Blueprint Medicines (NASDAQ:BPMC) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a sell rating to a hold rating in a report released on Saturday.

Other analysts have also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Wedbush restated an “outperform” rating and set a $128.00 price target (up from $124.00) on shares of Blueprint Medicines in a report on Thursday, February 13th. Stephens restated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. Finally, Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $92.25 on Friday. The business’s 50 day simple moving average is $99.55 and its 200 day simple moving average is $94.40. Blueprint Medicines has a one year low of $80.42 and a one year high of $121.90. The stock has a market capitalization of $5.90 billion, a PE ratio of -85.42 and a beta of 0.62. 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 (NASDAQ:BPMC) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) 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%. As a group, research analysts forecast that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the transaction, the director now directly owns 157,557 shares of the company’s stock, valued at $14,143,891.89. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the transaction, the chief executive officer now directly owns 150,824 shares in the company, valued at $14,569,598.40. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,851 shares of company stock valued at $4,984,696 over the last ninety days. 4.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of BPMC. Creative Planning raised its position in Blueprint Medicines by 6.8% in the 3rd quarter. Creative Planning now owns 13,194 shares of the biotechnology company’s stock valued at $1,220,000 after buying an additional 843 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Blueprint Medicines by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,206 shares of the biotechnology company’s stock valued at $297,000 after buying an additional 927 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Blueprint Medicines in the 3rd quarter valued at $122,000. Mirae Asset Global Investments Co. Ltd. raised its position in Blueprint Medicines by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,291 shares of the biotechnology company’s stock valued at $212,000 after buying an additional 422 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its position in Blueprint Medicines by 3.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after buying an additional 176 shares during 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.