HC Wainwright Reaffirms Buy Rating for Blueprint Medicines (NASDAQ:BPMC)

HC Wainwright reiterated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report released on Thursday, Benzinga reports. HC Wainwright currently has a $135.00 price target on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on BPMC. Oppenheimer lifted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Robert W. Baird raised their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Guggenheim raised their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, UBS Group initiated coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $120.39.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded up $1.24 during midday trading on Thursday, reaching $88.75. 59,019 shares of the company traded hands, compared to its average volume of 692,058. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of -41.47 and a beta of 0.58. Blueprint Medicines has a 12 month low of $56.74 and a 12 month high of $121.90. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. The business has a 50 day moving average of $88.86 and a two-hundred day moving average of $98.35.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 118.86% and a negative net margin of 29.48%. The business had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. During the same period last year, the firm posted ($2.20) earnings per share. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. As a group, research analysts predict that Blueprint Medicines will post -3.82 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In related news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the transaction, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the sale, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors have recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in Blueprint Medicines during the 2nd quarter worth about $27,000. Covestor Ltd lifted its position in shares of Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after buying an additional 291 shares during the last quarter. Headlands Technologies LLC boosted its stake in Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 342 shares in the last quarter. Natixis acquired a new stake in shares of Blueprint Medicines during the first quarter worth about $73,000. Finally, CWM LLC boosted its stake in Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 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.