Blueprint Medicines (NASDAQ:BPMC) Upgraded to “Strong-Buy” by Baird R W

Baird R W upgraded shares of Blueprint Medicines (NASDAQ:BPMC) to a strong-buy rating in a research note published on Friday morning, Zacks.com reports.

Other research analysts have also issued research reports about the stock. Leerink Partnrs upgraded shares of Blueprint Medicines from an underperform rating to a market perform rating in a research note on Monday, May 6th. SVB Leerink upgraded shares of Blueprint Medicines from an underperform rating to a market perform rating and upped their price objective for the stock from $50.00 to $97.00 in a research report on Monday, May 6th. Barclays lifted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an equal weight rating in a research note on Monday, July 29th. Piper Sandler raised their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group increased their target price on Blueprint Medicines from $121.00 to $168.00 and gave the company a buy rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $120.00.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC traded down $0.23 during mid-day trading on Friday, reaching $92.74. The company’s stock had a trading volume of 898,889 shares, compared to its average volume of 731,377. The firm has a market capitalization of $5.81 billion, a PE ratio of -19.33 and a beta of 0.63. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $121.90. The stock has a fifty day moving average of $108.55 and a two-hundred day moving average of $97.42.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.49. The firm had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative return on equity of 176.65% and a negative net margin of 56.64%. The company’s revenue for the quarter was up 139.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.19) EPS. As a group, sell-side analysts anticipate that Blueprint Medicines will post -4.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider L. Becker Hewes sold 4,922 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $106.43, for a total value of $523,848.46. Following the completion of the sale, the insider now owns 31,938 shares of the company’s stock, valued at approximately $3,399,161.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following the transaction, the insider now owns 43,763 shares in the company, valued at $4,870,384.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider L. Becker Hewes sold 4,922 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $106.43, for a total value of $523,848.46. Following the transaction, the insider now owns 31,938 shares in the company, valued at $3,399,161.34. The disclosure for this sale can be found here. Insiders have sold 130,064 shares of company stock worth $13,716,726 in the last quarter. 4.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of BPMC. Triad Wealth Partners LLC bought a new stake in Blueprint Medicines in the second quarter valued at approximately $27,000. Covestor Ltd grew its stake in shares of Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 291 shares in the last quarter. Headlands Technologies LLC lifted its position in Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares during the period. Natixis bought a new stake in shares of Blueprint Medicines during the first quarter worth $73,000. Finally, Van ECK Associates Corp lifted its holdings in Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $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.