JMP Securities Reiterates “Market Outperform” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $125.00 price objective on the biotechnology company’s stock. JMP Securities’ price objective suggests a potential upside of 33.14% from the stock’s current price.

A number of other brokerages have also commented on BPMC. HC Wainwright reissued a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Wedbush restated an “outperform” rating and set a $128.00 price objective (up from $124.00) on shares of Blueprint Medicines in a research report on Thursday. Stephens restated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.83.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded down $1.30 during mid-day trading on Friday, reaching $93.89. 76,764 shares of the stock traded hands, compared to its average volume of 1,004,135. The stock has a market capitalization of $5.96 billion, a PE ratio of -44.52 and a beta of 0.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines has a 12-month low of $77.57 and a 12-month high of $121.90. The business’s 50-day moving average is $99.65 and its 200-day moving average is $94.77.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. As a group, sell-side analysts predict that Blueprint Medicines will post -3.63 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the transaction, the chief executive officer now owns 149,378 shares in the company, valued at $16,467,430.72. The trade was a 0.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the transaction, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at $6,814,580.70. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,851 shares of company stock worth $4,984,696 in the last 90 days. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently made changes to their positions in the company. Pallas Capital Advisors LLC grew its position in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after purchasing an additional 176 shares in the last quarter. Torray Investment Partners LLC grew its position in Blueprint Medicines by 1.1% in the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock worth $1,439,000 after acquiring an additional 186 shares during the period. Franklin Resources Inc. grew its position in Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after acquiring an additional 265 shares during the period. Ameritas Investment Partners Inc. grew its position in Blueprint Medicines by 4.4% in the fourth quarter. Ameritas Investment Partners Inc. now owns 6,652 shares of the biotechnology company’s stock worth $580,000 after acquiring an additional 283 shares during the period. Finally, Pitcairn Co. grew its position in Blueprint Medicines by 2.8% in the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock worth $925,000 after acquiring an additional 293 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.