Blueprint Medicines (NASDAQ:BPMC) Given “Buy” Rating at Needham & Company LLC

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $97.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price target points to a potential upside of 2.26% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, April 26th. Stifel Nicolaus boosted their target price on Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, April 26th. JMP Securities reissued a “market outperform” rating and set a $114.00 target price on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Wedbush reaffirmed an “outperform” rating and set a $110.00 price target on shares of Blueprint Medicines in a research report on Friday, April 26th. Finally, Citigroup increased their price objective on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a research report on Friday, February 16th. Four analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines has a consensus rating of “Hold” and a consensus target price of $91.57.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $94.86 on Thursday. The stock has a fifty day moving average price of $90.85 and a 200 day moving average price of $79.82. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $101.00. The firm has a market capitalization of $5.81 billion, a P/E ratio of -11.35 and a beta of 0.65. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The company had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same quarter in the prior year, the company posted ($2.65) EPS. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. Equities research analysts anticipate 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 stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 24,495 shares in the company, valued at approximately $2,449,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on 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 legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,289 shares of company stock valued at $8,314,163. Insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds have recently added to or reduced their stakes in BPMC. PNC Financial Services Group Inc. lifted its position in Blueprint Medicines by 63.4% in the 3rd 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. Cutler Group LLC CA increased its stake in Blueprint Medicines by 1,685.7% during the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 944 shares during the period. Compass Wealth Management LLC bought a new stake in shares of Blueprint Medicines during the 4th quarter worth about $69,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Blueprint Medicines by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 757 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Blueprint Medicines by 28.4% in 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.

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.