Blueprint Medicines (NASDAQ:BPMC) Receives “Buy” Rating from Needham & Company LLC

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $97.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 6.91% from the company’s previous close.

A number of other research analysts also recently issued reports on BPMC. Wedbush reissued an “outperform” rating and issued a $97.00 price target on shares of Blueprint Medicines in a report on Monday, February 5th. Barclays boosted their price target on Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $114.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 10th. Stifel Nicolaus boosted their price target on Blueprint Medicines from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Finally, Citigroup boosted their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research report on Friday, February 16th. Four research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.29.

Blueprint Medicines Trading Down 1.7 %

Blueprint Medicines stock opened at $90.73 on Friday. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $101.00. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -10.85 and a beta of 0.63. The stock has a 50-day moving average price of $90.73 and a 200 day moving average price of $78.51.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same quarter in the previous year, the company posted ($2.65) earnings per share. The company’s revenue was up 85.5% compared to the same quarter last year. Sell-side analysts anticipate that Blueprint Medicines will post -5.41 EPS for the current year.

Insider Activity at Blueprint Medicines

In related news, insider Christopher K. Murray sold 621 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now directly owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $15,365,644. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the transaction, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of Blueprint Medicines by 63.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 329 shares during the period. Cutler Group LLC CA boosted its stake in shares of Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 944 shares during the period. Compass Wealth Management LLC purchased a new position in shares of Blueprint Medicines in the 4th quarter valued at about $69,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Blueprint Medicines by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 757 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 193 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.