Blueprint Medicines (NASDAQ:BPMC) Stock Rating Upgraded by Jefferies Financial Group

Blueprint Medicines (NASDAQ:BPMCGet Rating) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Wednesday, The Fly reports.

A number of other equities research analysts have also weighed in on the stock. HC Wainwright cut their target price on shares of Blueprint Medicines from $135.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 17th. Zacks Investment Research raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating and set a $68.00 target price on the stock in a research note on Monday, March 28th. Citigroup cut their target price on shares of Blueprint Medicines from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 13th. Stifel Nicolaus lifted their target price on shares of Blueprint Medicines from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, March 4th. Finally, Morgan Stanley lowered their price target on shares of Blueprint Medicines from $111.00 to $92.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 1st. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $100.75.

Shares of Blueprint Medicines stock opened at $55.00 on Wednesday. The firm has a market cap of $3.28 billion, a PE ratio of -4.98 and a beta of 0.96. Blueprint Medicines has a 12-month low of $50.96 and a 12-month high of $117.86. The company’s fifty day simple moving average is $61.60 and its two-hundred day simple moving average is $76.41.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($1.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.80) by $0.01. The business had revenue of $62.70 million for the quarter, compared to analyst estimates of $39.98 million. Blueprint Medicines had a negative net margin of 293.97% and a negative return on equity of 35.24%. The company’s revenue was up 190.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.72) EPS. As a group, sell-side analysts expect that Blueprint Medicines will post -8.13 earnings per share for the current year.

In other Blueprint Medicines news, insider Ariel Hurley sold 2,339 shares of Blueprint Medicines stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $57.15, for a total value of $133,673.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Alan Goldberg bought 5,000 shares of the firm’s stock in a transaction on Thursday, March 3rd. The stock was purchased at an average cost of $59.98 per share, with a total value of $299,900.00. The disclosure for this purchase can be found here. Insiders sold 10,575 shares of company stock valued at $677,614 over the last ninety days. Corporate insiders own 3.34% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. CWM LLC bought a new stake in shares of Blueprint Medicines in the fourth quarter worth approximately $34,000. Exane Derivatives grew its stake in shares of Blueprint Medicines by 1,340.7% in the fourth quarter. Exane Derivatives now owns 389 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 362 shares during the period. Covestor Ltd bought a new stake in shares of Blueprint Medicines in the fourth quarter worth approximately $46,000. Rockefeller Capital Management L.P. grew its stake in shares of Blueprint Medicines by 3,253.3% in the third quarter. Rockefeller Capital Management L.P. now owns 503 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 488 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in Blueprint Medicines by 414.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 617 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 497 shares during the period. Hedge funds and other institutional investors own 99.69% of the company’s stock.

About Blueprint Medicines (Get Rating)

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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.

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