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

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a report issued on Wednesday,Benzinga reports. They currently have a $128.00 target price on the biotechnology company’s stock. Wedbush’s target price points to a potential upside of 61.02% from the company’s current price.

Several other research analysts also recently weighed in on BPMC. Scotiabank initiated coverage on Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price for the company. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Stephens reaffirmed an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $124.95.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC traded down $1.96 during trading on Wednesday, reaching $79.49. 9,149 shares of the company traded hands, compared to its average volume of 764,600. Blueprint Medicines has a 12-month low of $73.04 and a 12-month high of $121.90. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The stock has a market cap of $5.08 billion, a P/E ratio of -73.57 and a beta of 0.75. The firm’s fifty day simple moving average is $89.79 and its 200 day simple moving average is $93.39.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. As a group, research analysts anticipate that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. The trade was a 14.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now owns 69,266 shares of the company’s stock, valued at $6,581,655.32. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,358 shares of company stock valued at $2,583,187. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in shares of Blueprint Medicines by 4.7% in the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company’s stock valued at $285,000 after purchasing an additional 146 shares during the period. SG Americas Securities LLC grew its stake in Blueprint Medicines by 70.1% during the 1st quarter. SG Americas Securities LLC now owns 7,276 shares of the biotechnology company’s stock valued at $644,000 after purchasing an additional 2,999 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of Blueprint Medicines by 19.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 6,843 shares of the biotechnology company’s stock valued at $606,000 after purchasing an additional 1,114 shares in the last quarter. NBC Securities Inc. grew its holdings in Blueprint Medicines by 132,300.0% during the 1st quarter. NBC Securities Inc. now owns 2,648 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 2,646 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Blueprint Medicines by 6.2% during the first quarter. Rhumbline Advisers now owns 91,933 shares of the biotechnology company’s stock worth $8,137,000 after purchasing an additional 5,402 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.