StockNews.com Upgrades Blueprint Medicines (NASDAQ:BPMC) to Hold

Blueprint Medicines (NASDAQ:BPMC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other brokerages also recently issued reports on BPMC. Barclays increased their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. HC Wainwright reiterated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Thursday, October 31st. Wells Fargo & Company cut their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. UBS Group began coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price target for the company. Finally, Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $120.39.

Blueprint Medicines Stock Down 0.6 %

Shares of Blueprint Medicines stock opened at $100.83 on Friday. The company has a market cap of $6.41 billion, a P/E ratio of -47.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines has a one year low of $56.74 and a one year high of $121.90. The firm has a fifty day moving average of $89.21 and a two-hundred day moving average of $98.79.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines’s quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.20) EPS. On average, analysts forecast that Blueprint Medicines will post -3.61 earnings per share for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the firm’s 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 sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

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