Blueprint Medicines Corporation (NASDAQ:BPMC) Given Average Recommendation of “Hold” by Brokerages

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) have received an average rating of “Hold” from the twenty-two brokerages that are covering the stock, Marketbeat Ratings reports. Seventeen research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $128.06.

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Blueprint Medicines in a research report on Tuesday, June 3rd. Guggenheim set a $132.00 price target on shares of Blueprint Medicines in a research note on Tuesday, June 3rd. Wells Fargo & Company lowered Blueprint Medicines from a “strong-buy” rating to a “hold” rating and lowered their price target for the company from $143.00 to $129.00 in a report on Tuesday, June 17th. Finally, TD Cowen cut Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 3rd.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $128.27 on Friday. The stock has a 50 day moving average price of $112.74 and a 200 day moving average price of $100.20. Blueprint Medicines has a 52-week low of $73.04 and a 52-week high of $128.52. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80. The firm has a market capitalization of $8.28 billion, a P/E ratio of -51.93 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results 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 business had revenue of $149.41 million during the quarter, compared to analysts’ expectations of $158.31 million. Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The business’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 EPS. As a group, sell-side analysts predict that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, May 19th. The shares were sold at an average price of $100.51, for a total value of $228,559.74. Following the transaction, the chief operating officer directly owned 64,718 shares of the company’s stock, valued at approximately $6,504,806.18. The trade was a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total value of $505,700.00. Following the transaction, the director directly owned 146,630 shares in the company, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,300 shares of company stock worth $1,249,453. Corporate insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC raised its stake in Blueprint Medicines by 17.7% in the first quarter. Voya Investment Management LLC now owns 241,672 shares of the biotechnology company’s stock valued at $21,390,000 after buying an additional 36,281 shares during the last quarter. Rhumbline Advisers increased its holdings 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 valued at $8,137,000 after acquiring an additional 5,402 shares in the last quarter. Strs Ohio acquired a new position in shares of Blueprint Medicines during the first quarter valued at about $593,000. Intech Investment Management LLC raised its position in shares of Blueprint Medicines by 26.7% in the 1st quarter. Intech Investment Management LLC now owns 40,014 shares of the biotechnology company’s stock valued at $3,542,000 after purchasing an additional 8,443 shares during the last quarter. Finally, SCS Capital Management LLC acquired a new stake in Blueprint Medicines in the 1st quarter worth approximately $1,342,000.

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.