Blueprint Medicines (NASDAQ:BPMC) Lifted to Market Perform at SVB Leerink

SVB Leerink upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from an underperform rating to a market perform rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $97.00 price target on the biotechnology company’s stock, up from their previous price target of $50.00.

BPMC has been the subject of a number of other research reports. Needham & Company LLC restated a buy rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research report on Thursday, May 2nd. Citigroup upped their price objective on shares of Blueprint Medicines from $65.00 to $76.00 and gave the company a sell rating in a research report on Friday, May 3rd. HC Wainwright upped their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the company a buy rating in a research report on Friday, May 3rd. Stifel Nicolaus upped their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, April 26th. Finally, Wedbush restated an outperform rating and issued a $110.00 price objective on shares of Blueprint Medicines in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $100.31.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $108.78 on Monday. The firm has a fifty day moving average of $92.44 and a two-hundred day moving average of $82.00. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of -22.62 and a beta of 0.65. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $110.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.22. The company had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.65) EPS. As a group, equities research analysts predict that Blueprint Medicines will post -5.38 EPS for the current year.

Insider Activity at Blueprint Medicines

In related news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly 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 available at the SEC website. In related news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly 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 available at the SEC website. Also, insider Christopher K. Murray sold 621 shares of the stock in a transaction dated Monday, March 4th. The shares were 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 directly owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,123 shares of company stock worth $9,554,679. Insiders own 3.88% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BPMC. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 worth $3,451,000 after purchasing an additional 145 shares during the period. US Bancorp DE raised its holdings in Blueprint Medicines by 5.2% in the 1st quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after acquiring an additional 183 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Blueprint Medicines by 28.4% during the 4th 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 during the period. Principal Financial Group Inc. grew its holdings in shares of Blueprint Medicines by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after purchasing an additional 247 shares in the last quarter. Finally, Diversified Trust Co increased its position 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 purchasing an additional 318 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.