Blueprint Medicines Co. (NASDAQ:BPMC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $122.11.

BPMC has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wedbush restated an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. Barclays boosted their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $94.15 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The firm’s 50-day simple moving average is $90.36 and its 200-day simple moving average is $98.60. Blueprint Medicines has a twelve month low of $66.61 and a twelve month high of $121.90. The firm has a market cap of $5.98 billion, a P/E ratio of -44.62 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period in the previous year, the business earned ($2.20) EPS. The firm’s revenue was up 126.5% on a year-over-year basis. As a group, research analysts expect that Blueprint Medicines will post -3.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of BPMC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock valued at $592,954,000 after buying an additional 821,868 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after buying an additional 729,055 shares during the period. Millennium Management LLC boosted its holdings in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after buying an additional 529,566 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Blueprint Medicines by 200,159.4% in the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after buying an additional 502,400 shares during the period. Finally, State Street Corp boosted its holdings in shares of Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after buying an additional 385,818 shares during the period.

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.