Blueprint Medicines (NASDAQ:BPMC) Upgraded at StockNews.com

StockNews.com upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research firms also recently weighed in on BPMC. Wedbush reaffirmed an “outperform” rating and set a $128.00 price target (up previously from $124.00) on shares of Blueprint Medicines in a research report on Thursday, February 13th. Wells Fargo & Company reduced their target price 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. Piper Sandler raised their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Stephens restated an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $92.48 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of -85.63 and a beta of 0.61. The business has a 50 day simple moving average of $99.49 and a 200 day simple moving average of $94.44. Blueprint Medicines has a 52-week low of $80.68 and a 52-week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Analysts anticipate that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the transaction, the chief operating officer now owns 71,657 shares in the company, valued at approximately $6,814,580.70. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the completion of the transaction, the insider now owns 14,967 shares in the company, valued at $1,395,822.42. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,851 shares of company stock valued at $4,984,696 over the last quarter. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently bought and sold shares of the company. Pallas Capital Advisors LLC grew its holdings in Blueprint Medicines by 3.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after acquiring an additional 176 shares during the period. Torray Investment Partners LLC raised its holdings in Blueprint Medicines by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock worth $1,439,000 after buying an additional 186 shares during the last quarter. Sherbrooke Park Advisers LLC grew its holdings in shares of Blueprint Medicines by 8.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 261 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after acquiring an additional 265 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Blueprint Medicines by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock valued at $580,000 after acquiring an additional 283 shares in 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.