Blueprint Medicines (NASDAQ:BPMC) Given “Outperform” Rating at Wedbush

Wedbush restated their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Friday morning, Benzinga reports. Wedbush currently has a $110.00 target price on the biotechnology company’s stock.

BPMC has been the subject of several other reports. Needham & Company LLC reaffirmed a buy rating and set a $97.00 price objective on shares of Blueprint Medicines in a report on Friday. JMP Securities reissued a market outperform rating and issued a $114.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Stifel Nicolaus lifted their target price on shares of Blueprint Medicines from $95.00 to $97.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. HC Wainwright reiterated a buy rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday. Finally, Citigroup lifted their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a research report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines presently has a consensus rating of Hold and a consensus price target of $91.57.

Blueprint Medicines Stock Up 2.5 %

NASDAQ BPMC opened at $93.00 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $101.00. The firm has a 50-day moving average price of $90.79 and a 200 day moving average price of $78.80.

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

Insider Activity

In related news, insider Christopher K. Murray sold 621 shares of Blueprint Medicines 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 transaction, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Christina Rossi sold 6,070 shares of Blueprint Medicines stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $550,488.30. Following the transaction, the chief operating officer now owns 64,306 shares in the company, valued at approximately $5,831,911.14. The transaction 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 stock in a transaction on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the sale, 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. Insiders sold 92,289 shares of company stock valued at $8,314,163 in the last ninety days. Company insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently modified their holdings of BPMC. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Blueprint Medicines by 0.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after purchasing an additional 145 shares during the period. Van ECK Associates Corp grew its stake in shares of Blueprint Medicines by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 193 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after acquiring an additional 247 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Blueprint Medicines by 2.9% in the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after acquiring an additional 318 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 329 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.