Blueprint Medicines’ (BPMC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $130.00 price target on the biotechnology company’s stock.

Several other equities research analysts also recently issued reports on the company. JMP Securities reissued a market outperform rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, June 7th. StockNews.com raised Blueprint Medicines from a sell rating to a hold rating in a research report on Friday, May 3rd. Stifel Nicolaus increased their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, April 26th. Wedbush reissued an outperform rating and set a $110.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. Finally, Stephens assumed coverage on Blueprint Medicines in a report on Tuesday, May 14th. They issued an overweight rating and a $140.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of Moderate Buy and a consensus target price of $110.20.

Blueprint Medicines Trading Up 1.3 %

Shares of BPMC stock opened at $109.18 on Friday. The stock has a 50-day simple moving average of $103.65 and a 200 day simple moving average of $92.92. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $111.42. The stock has a market capitalization of $6.84 billion, a P/E ratio of -22.70 and a beta of 0.63. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.64) by $0.32. The business had revenue of $96.12 million during the quarter, compared to the consensus estimate of $82.58 million. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. On average, sell-side analysts expect that Blueprint Medicines will post -5.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ariel Hurley sold 1,834 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the transaction, the insider now owns 14,913 shares in the company, valued at approximately $1,549,162.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,559,666.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ariel Hurley sold 1,834 shares of Blueprint Medicines stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total value of $190,515.92. Following the completion of the transaction, the insider now owns 14,913 shares of the company’s stock, valued at approximately $1,549,162.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,898 shares of company stock worth $13,510,865. 4.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors have recently bought and sold shares of the business. Readystate Asset Management LP bought a new position in Blueprint Medicines in the 4th quarter valued at $3,692,000. Vanguard Group Inc. raised its position in Blueprint Medicines by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock valued at $564,045,000 after purchasing an additional 147,827 shares during the last quarter. American Century Companies Inc. raised its position in Blueprint Medicines by 5.2% in the 3rd quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock valued at $33,696,000 after purchasing an additional 33,243 shares during the last quarter. Axiom Investors LLC DE bought a new position in Blueprint Medicines in the 4th quarter valued at $2,212,000. Finally, Diversified Trust Co raised its position in Blueprint Medicines by 2.9% in the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after purchasing an additional 318 shares during 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.