Wedbush Reiterates Outperform Rating for Blueprint Medicines (NASDAQ:BPMC)

Wedbush reissued their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report issued on Friday, Benzinga reports. They currently have a $110.00 price objective on the biotechnology company’s stock.

Other research analysts also recently issued research reports about the stock. JMP Securities restated a market outperform rating and set a $114.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 10th. Citigroup boosted their price target on Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a research report on Friday, February 16th. HC Wainwright reissued a buy rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Friday. Barclays boosted their target price on Blueprint Medicines from $58.00 to $70.00 and gave the stock an equal weight rating in a report on Tuesday, February 13th. Finally, Needham & Company LLC reiterated a buy rating and set a $97.00 price target on shares of Blueprint Medicines in a report on Friday. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines presently has a consensus rating of Hold and a consensus target price of $91.57.

Blueprint Medicines Stock Up 2.5 %

Shares of NASDAQ:BPMC opened at $93.00 on Friday. The business has a fifty day simple moving average of $90.79 and a 200 day simple moving average of $78.80. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same period in the previous year, the company earned ($2.65) EPS. The firm’s revenue was up 85.5% on a year-over-year basis. On average, equities research analysts expect that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the transaction, the insider now directly owns 36,374 shares in the company, valued at approximately $3,406,425.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Landsittel sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The disclosure for this sale can be found here. Insiders sold 92,289 shares of company stock valued at $8,314,163 over the last quarter. Corporate insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of BPMC. Compass Wealth Management LLC acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $69,000. PNC Financial Services Group Inc. lifted its stake in Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 329 shares during the period. Van ECK Associates Corp boosted its holdings in Blueprint Medicines by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares during the last quarter. Cutler Group LLC CA grew its position in shares of Blueprint Medicines by 1,685.7% during the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after buying an additional 944 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $95,000.

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.