Blueprint Medicines (NASDAQ:BPMC) Receives New Coverage from Analysts at UBS Group

UBS Group started coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a report released on Thursday, MarketBeat.com reports. The firm issued a neutral rating and a $88.00 price target on the biotechnology company’s stock.

Other analysts also recently issued research reports about the company. Robert W. Baird boosted their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Barclays upped their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Oppenheimer lifted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.22.

Blueprint Medicines Price Performance

BPMC stock opened at $82.47 on Thursday. The firm has a 50 day simple moving average of $89.55 and a two-hundred day simple moving average of $98.53. The stock has a market cap of $5.16 billion, a PE ratio of -17.15 and a beta of 0.58. Blueprint Medicines has a one year low of $47.66 and a one year high of $121.90. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The company had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. During the same period in the previous year, the business earned ($2.19) earnings per share. The firm’s quarterly revenue was up 139.9% compared to the same quarter last year. On average, analysts predict that Blueprint Medicines will post -3.99 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Blueprint Medicines by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after purchasing an additional 195,007 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Blueprint Medicines by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock valued at $592,954,000 after purchasing an additional 821,868 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Blueprint Medicines by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after purchasing an additional 32,600 shares during the period. Millennium Management LLC increased its position in shares of Blueprint Medicines by 540.0% during the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after purchasing an additional 529,566 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its stake in shares of Blueprint Medicines by 7.0% in the 2nd quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock worth $54,194,000 after purchasing an additional 32,694 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.