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

HC Wainwright reaffirmed their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report released on Friday morning,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company’s stock.

A number of other equities research analysts have also weighed in on BPMC. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Barclays upped their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. UBS Group started coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday. Finally, Robert W. Baird raised their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Stock Performance

Shares of BPMC traded down $6.96 during trading hours on Friday, hitting $88.69. The company’s stock had a trading volume of 1,001,074 shares, compared to its average volume of 692,935. The company has a market cap of $5.63 billion, a price-to-earnings ratio of -42.03 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The business has a 50 day simple moving average of $89.59 and a two-hundred day simple moving average of $98.86. Blueprint Medicines has a 52-week low of $62.56 and a 52-week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating 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 business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same period in the previous year, the business posted ($2.20) earnings per share. Blueprint Medicines’s revenue for the quarter was up 126.5% on a year-over-year basis. On average, equities analysts expect that Blueprint Medicines will post -3.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Large investors have recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in Blueprint Medicines in the second quarter worth about $27,000. Covestor Ltd raised its holdings in Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 291 shares in the last quarter. Quarry LP bought a new position in Blueprint Medicines in the third quarter worth about $32,000. Headlands Technologies LLC raised its holdings in Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares in the last quarter. Finally, Natixis bought a new position in Blueprint Medicines in the first quarter worth about $73,000.

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.