Blueprint Medicines’ (BPMC) “Hold” Rating Reaffirmed at Needham & Company LLC

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $130.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 28.52% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley started coverage on Blueprint Medicines in a report on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price target for the company. Wall Street Zen upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Wedbush restated an “outperform” rating and set a $128.00 price target on shares of Blueprint Medicines in a research note on Thursday, May 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, 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 objective on the stock. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines currently has an average rating of “Moderate Buy” and an average price target of $126.56.

Blueprint Medicines Price Performance

Shares of BPMC opened at $101.15 on Monday. The company has a 50 day moving average of $91.67 and a two-hundred day moving average of $94.66. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines has a twelve month low of $73.04 and a twelve month high of $128.54. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -93.66 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC) last posted 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). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same period in the previous year, the business earned $1.40 EPS. The firm’s revenue for the quarter was up 55.5% compared to the same quarter last year. As a group, analysts predict that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the completion of the transaction, the chief operating officer now directly owns 66,992 shares in the company, valued at approximately $6,816,436. This trade represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 2,752 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the transaction, the insider now directly owns 16,944 shares of the company’s stock, valued at $1,747,434.72. The trade was a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,574 shares of company stock valued at $1,465,528. Company insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in BPMC. Cerity Partners LLC acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $291,000. Stephens Inc. AR purchased a new position in Blueprint Medicines in the fourth quarter valued at $321,000. Bank of New York Mellon Corp raised its position in shares of Blueprint Medicines by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock worth $26,465,000 after acquiring an additional 7,101 shares during the period. KBC Group NV boosted its stake in shares of Blueprint Medicines by 63.9% during the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 1,023 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Blueprint Medicines during the 4th quarter valued at about $21,104,000.

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.