Leerink Partnrs Upgrades Blueprint Medicines (NASDAQ:BPMC) to Market Perform

Blueprint Medicines (NASDAQ:BPMC) was upgraded by analysts at Leerink Partnrs from an “underperform” rating to a “market perform” rating in a research note issued on Monday, Zacks.com reports. Leerink Partnrs also issued estimates for Blueprint Medicines’ FY2027 earnings at $5.34 EPS.

Several other equities analysts have also weighed in on BPMC. The Goldman Sachs Group boosted their target price on shares of Blueprint Medicines from $121.00 to $168.00 and gave the company a “buy” rating in a report on Monday. JMP Securities increased their price objective on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Friday, May 3rd. Piper Sandler raised their price target on Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Stifel Nicolaus upped their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $97.00 price objective on shares of Blueprint Medicines in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.31.

Blueprint Medicines Stock Up 2.2 %

BPMC opened at $108.55 on Monday. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $110.93. The company has a market cap of $6.64 billion, a PE ratio of -22.57 and a beta of 0.65. The company has a 50-day moving average price of $92.17 and a 200 day moving average price of $81.81.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The firm had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same period in the previous year, the company posted ($2.65) earnings per share. The business’s revenue was up 85.5% on a year-over-year basis. Sell-side analysts expect that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other news, EVP Tracey L. Mccain sold 5,194 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $471,043.86. Following the completion of the sale, the executive vice president now directly owns 60,498 shares in the company, valued at approximately $5,486,563.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the sale, the director now owns 176,050 shares in the company, valued at approximately $15,365,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracey L. Mccain sold 5,194 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $471,043.86. Following the completion of the sale, the executive vice president now directly owns 60,498 shares in the company, valued at $5,486,563.62. The disclosure for this sale can be found here. Insiders have sold a total of 104,123 shares of company stock worth $9,554,679 over the last three months. 3.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors have recently added to or reduced their stakes in the company. Readystate Asset Management LP purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth about $3,692,000. American Century Companies Inc. increased its position in shares of Blueprint Medicines by 5.2% in the third quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock worth $33,696,000 after acquiring an additional 33,243 shares in the last quarter. Diversified Trust Co raised its stake in shares of Blueprint Medicines by 2.9% in the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after acquiring an additional 318 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Blueprint Medicines by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 757 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in Blueprint Medicines by 17.4% in the third quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock valued at $8,371,000 after purchasing an additional 24,693 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.