Blueprint Medicines (NASDAQ:BPMC) Receives “Outperform” Rating from Wedbush

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research note issued on Monday,Benzinga reports. They presently have a $124.00 price objective on the biotechnology company’s stock, down from their prior price objective of $135.00. Wedbush’s price target points to a potential upside of 32.73% from the stock’s current price.

A number of other equities analysts have also recently weighed in on BPMC. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Monday. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target for the company. Finally, UBS Group initiated coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.72.

Blueprint Medicines Stock Up 6.9 %

BPMC stock traded up $5.99 during trading on Monday, hitting $93.42. 94,236 shares of the company’s stock were exchanged, compared to its average volume of 635,643. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of -44.27 and a beta of 0.61. Blueprint Medicines has a 52-week low of $72.24 and a 52-week high of $121.90. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $93.42 and a two-hundred day moving average price of $95.36.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the business earned ($2.20) EPS. Blueprint Medicines’s revenue for the quarter was up 126.5% compared to the same quarter last year. As a group, equities research analysts expect that Blueprint Medicines will post -3.68 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Ariel Hurley sold 1,819 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the transaction, the chief executive officer now directly owns 150,824 shares in the company, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,720 shares of company stock valued at $2,177,846. Company insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently bought and sold shares of BPMC. Quarry LP acquired a new position in Blueprint Medicines in the third quarter worth about $32,000. Covestor Ltd lifted its holdings in shares of Blueprint Medicines by 206.7% during the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 403 shares during the period. Quantbot Technologies LP bought a new position in shares of Blueprint Medicines during the third quarter valued at $108,000. Values First Advisors Inc. bought a new stake in shares of Blueprint Medicines in the 3rd quarter worth about $122,000. Finally, CWM LLC lifted its holdings in Blueprint Medicines by 69.2% during the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 765 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.