Blueprint Medicines (NASDAQ:BPMC) Stock Rating Lowered by Stephens

Blueprint Medicines (NASDAQ:BPMC) was downgraded by Stephens from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat reports. They currently have a $135.00 price target on the biotechnology company’s stock, down from their previous price target of $150.00. Stephens’ price target indicates a potential upside of 5.80% from the stock’s previous close.

A number of other research firms have also recently weighed in on BPMC. Morgan Stanley initiated coverage on Blueprint Medicines in a research report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 price objective on the stock. Scotiabank cut shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating and set a $135.00 target price on the stock. in a research note on Monday. Needham & Company LLC lowered shares of Blueprint Medicines from a “moderate buy” rating to a “hold” rating and set a $130.00 price target for the company. in a research report on Monday. Wall Street Zen raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $129.00 price objective (down from $130.00) on shares of Blueprint Medicines in a research report on Monday. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Hold” and a consensus target price of $125.38.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC opened at $127.60 on Tuesday. Blueprint Medicines has a 12-month low of $73.04 and a 12-month high of $128.15. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of -118.15 and a beta of 0.83. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $93.17 and a 200 day moving average of $95.16.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The business had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. During the same period in the previous year, the firm earned $1.40 EPS. The company’s revenue was up 55.5% on a year-over-year basis. On average, research analysts anticipate that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the sale, the director now directly owns 146,630 shares in the company, valued at approximately $14,830,158.20. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ariel Hurley sold 2,752 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider now directly owns 16,944 shares of the company’s stock, valued at approximately $1,747,434.72. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,574 shares of company stock worth $1,465,528. 4.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors have recently modified their holdings of BPMC. Rhumbline Advisers lifted its position in Blueprint Medicines by 6.2% in the first quarter. Rhumbline Advisers now owns 91,933 shares of the biotechnology company’s stock worth $8,137,000 after buying an additional 5,402 shares during the last quarter. Strs Ohio purchased a new stake in shares of Blueprint Medicines in the first quarter valued at $593,000. Intech Investment Management LLC lifted its holdings in shares of Blueprint Medicines by 26.7% in the 1st quarter. Intech Investment Management LLC now owns 40,014 shares of the biotechnology company’s stock worth $3,542,000 after acquiring an additional 8,443 shares during the last quarter. SCS Capital Management LLC purchased a new position in shares of Blueprint Medicines during the 1st quarter worth about $1,342,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Blueprint Medicines by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,411 shares of the biotechnology company’s stock valued at $21,633,000 after purchasing an additional 4,465 shares during the last quarter.

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.