Blueprint Medicines (NASDAQ:BPMC) Upgraded at SVB Leerink

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

BPMC has been the subject of several other research reports. Barclays boosted their price objective on Blueprint Medicines from $70.00 to $75.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. Piper Sandler boosted their target price on Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Citigroup boosted their target price on Blueprint Medicines from $65.00 to $76.00 and gave the company a sell rating in a research note on Friday, May 3rd. StockNews.com raised Blueprint Medicines from a sell rating to a hold rating in a research note on Friday, May 3rd. Finally, Wedbush reissued an outperform rating and set a $110.00 target price on shares of Blueprint Medicines in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $100.31.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $108.78 on Monday. 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 has a fifty-two week low of $43.89 and a fifty-two week high of $110.93. The stock has a 50 day moving average price of $92.44 and a two-hundred day moving average price of $82.00. The company has a market capitalization of $6.66 billion, a P/E ratio of -22.62 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The firm had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same quarter in the previous year, the company posted ($2.65) earnings per share. The business’s revenue was up 85.5% on a year-over-year basis. Analysts expect that Blueprint Medicines will post -5.38 earnings per share for the current year.

Insider Activity

In other news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now directly owns 24,495 shares in the company, valued at $2,449,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christopher K. Murray sold 5,000 shares of the stock in a transaction on 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 directly owns 24,495 shares of the company’s stock, valued at $2,449,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Murray sold 621 shares of the stock in a transaction 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. Insiders sold 104,123 shares of company stock worth $9,554,679 over the last three months. 3.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors have recently modified their holdings of BPMC. Readystate Asset Management LP purchased a new position in Blueprint Medicines in the fourth quarter worth about $3,692,000. American Century Companies Inc. boosted its position in Blueprint Medicines by 5.2% in the third quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock worth $33,696,000 after purchasing an additional 33,243 shares during the last quarter. Diversified Trust Co boosted its position in 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 last quarter. China Universal Asset Management Co. Ltd. boosted its position in Blueprint Medicines by 95.5% in the third 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 last quarter. Finally, Rafferty Asset Management LLC boosted its position in Blueprint Medicines by 17.4% in the third quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock worth $8,371,000 after purchasing an additional 24,693 shares during 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.