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

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued on Monday, Marketbeat.com reports. They presently have a $124.00 target price on the biotechnology company’s stock, down from their previous target price of $135.00. Wedbush’s price target would suggest a potential upside of 20.90% from the company’s current price.

Other research analysts also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Monday, December 9th. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective on the stock. UBS Group started coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.72.

Blueprint Medicines Price Performance

BPMC opened at $102.56 on Monday. The stock has a market cap of $6.52 billion, a P/E ratio of -48.61 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 quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average of $93.65 and a 200 day moving average of $95.33.

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

Insider Buying and Selling at Blueprint Medicines

In related news, CEO Kate Haviland sold 2,353 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares in the company, valued at $1,395,822.42. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,720 shares of company stock worth $2,177,846. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the company. Exome Asset Management LLC acquired a new position in Blueprint Medicines in the 3rd quarter valued at about $3,395,000. Franklin Resources Inc. boosted its holdings in Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after purchasing an additional 265 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Blueprint Medicines by 4.0% in the 3rd quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company’s stock valued at $2,224,000 after acquiring an additional 922 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Blueprint Medicines in the 3rd quarter valued at approximately $202,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Blueprint Medicines by 23.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company’s stock valued at $1,528,000 after acquiring an additional 3,162 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.