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

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $125.00 price target on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 37.77% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research report on Monday, February 26th. JMP Securities reaffirmed a “market outperform” rating and set a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Wedbush reaffirmed an “outperform” rating and set a $97.00 target price on shares of Blueprint Medicines in a report on Monday, February 5th. Citigroup lifted their price objective on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus lifted their price objective on shares of Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $88.29.

Blueprint Medicines Stock Down 1.7 %

Shares of BPMC stock opened at $90.73 on Friday. The firm’s fifty day moving average price is $90.73 and its two-hundred day moving average price is $78.51. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $101.00. The firm has a market capitalization of $5.55 billion, a P/E ratio of -10.85 and a beta of 0.63. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The company had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same quarter last year, the firm posted ($2.65) EPS. The company’s quarterly revenue was up 85.5% on a year-over-year basis. On average, equities analysts predict that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the transaction, the insider now directly owns 36,374 shares in the company, valued at approximately $3,406,425.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now directly owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. Insiders sold a total of 92,289 shares of company stock worth $8,314,163 in the last three months. 3.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors have recently added to or reduced their stakes in BPMC. Norges Bank bought a new stake in Blueprint Medicines during the 4th quarter worth approximately $55,893,000. Polar Capital Holdings Plc boosted its stake in shares of Blueprint Medicines by 108.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after purchasing an additional 540,000 shares during the last quarter. Rock Springs Capital Management LP boosted its stake in shares of Blueprint Medicines by 22.8% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after purchasing an additional 498,622 shares during the last quarter. Avidity Partners Management LP boosted its stake in shares of Blueprint Medicines by 81.1% in the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after purchasing an additional 336,600 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Blueprint Medicines by 2,788.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock valued at $24,873,000 after purchasing an additional 260,321 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.