Blueprint Medicines’ (BPMC) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report released on Friday, Benzinga reports. Wedbush currently has a $110.00 price target on the biotechnology company’s stock.

BPMC has been the subject of several other research reports. HC Wainwright restated a buy rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday. JMP Securities restated a market outperform rating and issued a $114.00 target price on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Citigroup raised their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a research note on Friday, February 16th. Needham & Company LLC restated a buy rating and issued a $97.00 target price on shares of Blueprint Medicines in a research note on Friday. Finally, Stifel Nicolaus raised their price objective on shares of Blueprint Medicines from $95.00 to $97.00 and gave the company a buy rating in a research note on Tuesday, January 9th. Four analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $91.57.

Blueprint Medicines Trading Up 2.5 %

Shares of Blueprint Medicines stock opened at $93.00 on Friday. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $101.00. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. The company has a market capitalization of $5.69 billion, a P/E ratio of -11.12 and a beta of 0.63. The company’s fifty day moving average is $90.79 and its two-hundred day moving average is $79.20.

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

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now owns 176,050 shares in the company, valued at $15,365,644. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the sale, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Landsittel sold 5,000 shares of Blueprint Medicines stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the sale, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,492,170. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,289 shares of company stock worth $8,314,163. Insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Peregrine Capital Management LLC grew its holdings in shares of Blueprint Medicines by 2.0% during the first quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company’s stock worth $8,877,000 after buying an additional 1,810 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of 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 worth $3,503,000 after buying an additional 2,884 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Blueprint Medicines in the first quarter valued at approximately $218,000. Diversified Trust Co grew its holdings in Blueprint Medicines by 3.6% in 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Blueprint Medicines in the fourth quarter valued at approximately $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.