Blueprint Medicines (NASDAQ:BPMC) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $135.00 target price on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company dropped their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Piper Sandler increased their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. UBS Group assumed coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Trading Down 1.3 %

NASDAQ BPMC opened at $93.94 on Friday. Blueprint Medicines has a 12 month low of $77.57 and a 12 month high of $121.90. The stock has a market cap of $5.97 billion, a P/E ratio of -44.52 and a beta of 0.62. The stock’s fifty day moving average price is $99.61 and its 200-day moving average price is $94.66. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. As a group, equities analysts forecast that Blueprint Medicines will post -3.63 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the transaction, the director now directly owns 152,396 shares of the company’s stock, valued at $16,691,933.88. The trade was a 9.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares in the company, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,851 shares of company stock valued at $4,984,696 in the last ninety days. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Empirical Asset Management LLC purchased a new position in Blueprint Medicines in the 4th quarter worth approximately $2,348,000. Massachusetts Financial Services Co. MA lifted its holdings in Blueprint Medicines by 48.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock worth $23,332,000 after purchasing an additional 82,693 shares in the last quarter. Entropy Technologies LP purchased a new position in Blueprint Medicines in the 3rd quarter worth approximately $999,000. KBC Group NV lifted its holdings in Blueprint Medicines by 63.9% in the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock worth $229,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in Blueprint Medicines by 40.7% in the 3rd quarter. Algert Global LLC now owns 92,236 shares of the biotechnology company’s stock worth $8,532,000 after purchasing an additional 26,696 shares in the last quarter.

Blueprint Medicines Company Profile

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.