Needham & Company LLC Reaffirms Buy Rating for Blueprint Medicines (NASDAQ:BPMC)

Needham & Company LLC reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Thursday morning,Benzinga reports. They currently have a $133.00 target price on the biotechnology company’s stock.

Other analysts have also recently issued reports about the stock. Wedbush reaffirmed an “outperform” rating and set a $124.00 price objective (down from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lifted 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. HC Wainwright restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $95.19 on Thursday. The firm has a market cap of $6.05 billion, a P/E ratio of -45.11 and a beta of 0.62. The firm’s 50-day simple moving average is $99.65 and its 200-day simple moving average is $94.77. Blueprint Medicines has a twelve month low of $72.24 and a twelve month high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

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

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 15,161 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total value of $1,660,584.33. Following the completion of the sale, the director now directly owns 152,396 shares of the company’s stock, valued at $16,691,933.88. This represents a 9.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now owns 149,378 shares in the company, valued at $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,851 shares of company stock valued at $4,984,696. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Blueprint Medicines by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock valued at $590,905,000 after acquiring an additional 91,450 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Blueprint Medicines by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after purchasing an additional 316,754 shares in the last quarter. State Street Corp grew its position in shares of Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after purchasing an additional 385,818 shares during the period. William Blair Investment Management LLC increased its stake in Blueprint Medicines by 16.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after purchasing an additional 269,896 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Blueprint Medicines by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company’s stock worth $129,996,000 after buying an additional 9,914 shares during the period.

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.