Blueprint Medicines (NASDAQ:BPMC) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Friday, Benzinga reports. They currently have a $125.00 price target on the biotechnology company’s stock.

A number of other analysts also recently issued reports on the company. Needham & Company LLC restated a buy rating and issued a $97.00 price objective on shares of Blueprint Medicines in a report on Monday, February 26th. Barclays lifted their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an equal weight rating in a research report on Tuesday, February 13th. JMP Securities restated a market outperform rating and issued a $114.00 price objective on shares of Blueprint Medicines in a report on Wednesday, April 10th. Wedbush reiterated an outperform rating and issued a $97.00 target price on shares of Blueprint Medicines in a report on Monday, February 5th. Finally, Citigroup boosted their target price 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 assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of Hold and a consensus target price of $91.57.

Blueprint Medicines Stock Up 0.1 %

Shares of NASDAQ BPMC opened at $93.10 on Friday. The company has a market capitalization of $5.70 billion, a P/E ratio of -11.14 and a beta of 0.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. The company has a 50 day simple moving average of $90.85 and a 200-day simple moving average of $79.52. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same period in the prior year, the business posted ($2.65) earnings per share. The firm’s revenue for the quarter was up 85.5% compared to the same quarter last year. On average, equities research analysts predict that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the sale, the insider now owns 24,495 shares in the company, valued at approximately $2,449,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 24,495 shares in the company, valued at approximately $2,449,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at $15,365,644. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,289 shares of company stock worth $8,314,163. Company insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Blueprint Medicines by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock worth $564,045,000 after purchasing an additional 147,827 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Blueprint Medicines by 3.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock worth $255,144,000 after buying an additional 156,807 shares during the last quarter. Rock Springs Capital Management LP boosted its position in shares of Blueprint Medicines by 22.8% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock worth $134,855,000 after acquiring an additional 498,622 shares in the last quarter. Polar Capital Holdings Plc increased its holdings in shares of Blueprint Medicines by 108.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after acquiring an additional 540,000 shares during the last quarter. Finally, Avidity Partners Management LP raised its position in shares of Blueprint Medicines by 81.1% during the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after acquiring an additional 336,600 shares in 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.