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

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $125.00 price target on the biotechnology company’s stock. JMP Securities’ price objective would suggest a potential upside of 20.25% from the company’s previous close.

Several other brokerages have also recently commented on BPMC. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a research note on Thursday, November 14th. They set an “overweight” rating and a $126.00 price objective on the stock. Stephens reiterated an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research report on Thursday, January 2nd. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, UBS Group began 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 for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.72.

Blueprint Medicines Stock Performance

BPMC opened at $103.95 on Wednesday. Blueprint Medicines has a 1 year low of $72.24 and a 1 year high of $121.90. 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 company has a market capitalization of $6.60 billion, a PE ratio of -49.27 and a beta of 0.61. The business has a fifty day simple moving average of $93.85 and a 200 day simple moving average of $95.36.

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 analysts’ consensus estimates 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 company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the previous year, the business posted ($2.20) earnings per share. Blueprint Medicines’s quarterly revenue was up 126.5% on a year-over-year basis. Research analysts expect that Blueprint Medicines will post -3.68 EPS for the current year.

Insider Buying and Selling

In other news, Director Jeffrey W. Albers sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the transaction, the director now owns 157,557 shares of the company’s stock, valued at approximately $14,143,891.89. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $169,639.94. Following the completion of the sale, the insider now directly owns 14,967 shares in the company, valued at approximately $1,395,822.42. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,970 shares of company stock worth $2,914,246 in the last 90 days. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Amalgamated Bank increased its stake in shares of Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 109 shares during the period. Pallas Capital Advisors LLC boosted its holdings in 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 acquiring an additional 176 shares during the last quarter. Clarus Wealth Advisors increased its position in Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after purchasing an additional 206 shares during the period. Mackenzie Financial Corp raised its holdings in Blueprint Medicines by 5.2% during the 2nd quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company’s stock worth $527,000 after purchasing an additional 243 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after purchasing an additional 265 shares during the last quarter.

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.