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

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

A number of other brokerages have also weighed in on BPMC. HC Wainwright reissued a buy rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, April 26th. JMP Securities reaffirmed a market outperform rating and set a $114.00 price target on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Citigroup boosted their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a report on Friday, February 16th. Barclays lifted their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an equal weight rating in a research report on Tuesday, February 13th. Finally, Wedbush restated an outperform rating and issued a $110.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $94.87.

Blueprint Medicines Stock Up 0.2 %

NASDAQ BPMC opened at $107.19 on Thursday. The stock’s 50 day simple moving average is $91.77 and its 200 day simple moving average is $80.52. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. Blueprint Medicines has a one year low of $43.89 and a one year high of $110.93. The firm has a market cap of $6.56 billion, a PE ratio of -12.82 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The company had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same period last year, the company posted ($2.65) earnings per share. The firm’s quarterly revenue was up 85.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Blueprint Medicines will post -5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Tracey L. Mccain sold 5,194 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $471,043.86. Following the sale, the executive vice president now owns 60,498 shares in the company, valued at $5,486,563.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,289 shares of company stock worth $8,314,163. 3.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Blueprint Medicines in the 1st quarter valued at about $218,000. Principal Financial Group Inc. increased its position in Blueprint Medicines by 331.9% during the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock worth $5,945,000 after buying an additional 48,160 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Blueprint Medicines by 67.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,777 shares of the biotechnology company’s stock valued at $1,117,000 after buying an additional 4,745 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Blueprint Medicines by 2.0% during the 1st quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company’s stock worth $8,877,000 after acquiring an additional 1,810 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Blueprint Medicines by 8.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,929 shares of the biotechnology company’s stock valued at $3,503,000 after acquiring an additional 2,884 shares during the period.

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.