Blueprint Medicines (NASDAQ:BPMC) Earns “Buy” Rating from HC Wainwright

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Friday, Benzinga reports. They presently have a $125.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 37.77% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 price target on shares of Blueprint Medicines in a research report on Monday, February 26th. Citigroup boosted their target price on Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a research report on Friday, February 16th. Stifel Nicolaus boosted their target price on Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Barclays boosted their target price on Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $114.00 target price on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.29.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $90.73 on Friday. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $101.00. The stock has a market cap of $5.55 billion, a PE ratio of -10.85 and a beta of 0.63. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60. The company’s fifty day moving average price is $90.73 and its 200-day moving average price is $78.51.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results 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 analyst estimates 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 quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.65) EPS. On average, equities analysts expect that Blueprint Medicines will post -5.41 EPS for the current fiscal 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 that occurred on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Kate Haviland sold 12,464 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the completion of the transaction, the chief executive officer now directly owns 153,177 shares in the company, valued at approximately $13,891,622.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $475,000.00. Following the transaction, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,492,170. The disclosure for this sale can be found here. Insiders sold 92,289 shares of company stock worth $8,314,163 in the last three months. 3.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BPMC. PNC Financial Services Group Inc. boosted its position in shares of Blueprint Medicines by 63.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 329 shares during the last quarter. Cutler Group LLC CA raised its holdings 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 purchased a new stake in Blueprint Medicines during the 4th quarter valued at $69,000. China Universal Asset Management Co. Ltd. raised its holdings in Blueprint Medicines by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 757 shares during the period. Finally, Van ECK Associates Corp raised its holdings in 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 buying an additional 193 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.