Blueprint Medicines’ (BPMC) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Friday, Benzinga reports. The brokerage currently has a $97.00 price objective on the biotechnology company’s stock.

Several other equities analysts have also issued reports on BPMC. Wedbush reaffirmed an outperform rating and issued a $97.00 target price on shares of Blueprint Medicines in a report on Monday, February 5th. JMP Securities reaffirmed a market outperform rating and issued a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Barclays increased their price objective on Blueprint Medicines from $58.00 to $70.00 and gave the company an equal weight rating in a report on Tuesday, February 13th. HC Wainwright reissued a buy rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Friday. Finally, Stifel Nicolaus increased their price objective on Blueprint Medicines from $95.00 to $97.00 and gave the company a buy rating in a report on Tuesday, January 9th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $91.57.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $93.00 on Friday. The company has a market cap of $5.69 billion, a PE ratio of -11.12 and a beta of 0.63. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $101.00. The business has a 50 day moving average price of $90.79 and a 200-day moving average price of $79.20. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.04) by $0.22. The firm had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.65) earnings per share. Equities analysts anticipate that Blueprint Medicines will post -5.41 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, CFO Michael Landsittel sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at $4,492,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jeffrey W. Albers sold 11,033 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $1,000,582.77. Following the sale, the director now owns 165,017 shares in the company, valued at $14,965,391.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Landsittel sold 5,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the completion of the sale, the chief financial officer now owns 47,286 shares in the company, valued at approximately $4,492,170. The disclosure for this sale can be found here. Insiders sold 92,289 shares of company stock valued at $8,314,163 over the last three months. Company insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently made changes to their positions in the business. Peregrine Capital Management LLC raised its position in Blueprint Medicines by 2.0% during the first quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company’s stock valued at $8,877,000 after purchasing an additional 1,810 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Blueprint Medicines by 8.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 36,929 shares of the biotechnology company’s stock valued at $3,503,000 after purchasing an additional 2,884 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Blueprint Medicines during the first quarter valued at about $218,000. Diversified Trust Co raised its position in Blueprint Medicines by 3.6% during the first quarter. Diversified Trust Co now owns 14,472 shares of the biotechnology company’s stock valued at $1,373,000 after purchasing an additional 498 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Blueprint Medicines during the fourth quarter valued at about $9,768,000.

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.