Blueprint Medicines’ (BPMC) Outperform Rating Reiterated at Wedbush

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research report issued on Thursday,RTT News reports. They currently have a $128.00 target price on the biotechnology company’s stock. Wedbush’s target price indicates a potential upside of 22.32% from the stock’s previous close.

BPMC has been the topic of several other reports. Needham & Company LLC lowered their price objective on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Wolfe Research started coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They issued an “outperform” rating for the company. Scotiabank began coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.53.

Blueprint Medicines Trading Up 5.4 %

Blueprint Medicines stock opened at $104.64 on Thursday. 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 business’s fifty day simple moving average is $87.69 and its two-hundred day simple moving average is $93.30. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of -96.89 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). The firm had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The firm’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 earnings per share. As a group, equities analysts predict that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Christina Rossi sold 2,274 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the transaction, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. This trade represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPMC. Massachusetts Financial Services Co. MA grew its holdings in Blueprint Medicines by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 270,996 shares of the biotechnology company’s stock valued at $23,986,000 after buying an additional 1,006 shares in the last quarter. CWM LLC increased its holdings in Blueprint Medicines by 62.3% in the 1st quarter. CWM LLC now owns 5,321 shares of the biotechnology company’s stock valued at $471,000 after acquiring an additional 2,042 shares during the last quarter. Stephens Inc. AR lifted its stake in Blueprint Medicines by 38.0% in the 1st quarter. Stephens Inc. AR now owns 5,084 shares of the biotechnology company’s stock worth $450,000 after purchasing an additional 1,400 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Blueprint Medicines by 1.5% during the 1st quarter. New York State Common Retirement Fund now owns 19,820 shares of the biotechnology company’s stock valued at $1,754,000 after purchasing an additional 300 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in shares of Blueprint Medicines by 7.5% during the first quarter. Mutual of America Capital Management LLC now owns 34,521 shares of the biotechnology company’s stock valued at $3,055,000 after purchasing an additional 2,405 shares in 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.