Blueprint Medicines (NASDAQ:BPMC) Upgraded to “Hold” at StockNews.com

Blueprint Medicines (NASDAQ:BPMC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research report on Thursday. Piper Sandler lifted their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday. Stifel Nicolaus increased their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a research report on Friday, April 26th. Finally, Barclays upped their price target on Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.87.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $107.19 on Friday. The stock has a 50 day moving average of $91.77 and a 200 day moving average of $80.73. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of -22.28 and a beta of 0.65. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $110.93. 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 announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.22. The firm had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative return on equity of 215.07% and a negative net margin of 102.15%. The business’s revenue was up 85.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.65) EPS. As a group, sell-side analysts forecast that Blueprint Medicines will post -5.38 earnings per share for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at $4,492,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares in the company, valued at approximately $3,406,425.10. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock worth $8,314,163 in the last three months. 3.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in shares of Blueprint Medicines by 63.4% during 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 period. Cutler Group LLC CA raised its position 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 purchasing an additional 944 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in Blueprint Medicines in the fourth quarter worth $69,000. China Universal Asset Management Co. Ltd. lifted its position 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 purchasing an additional 757 shares during the period. Finally, Van ECK Associates Corp increased its position 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 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.