Stephens Reaffirms “Overweight” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “overweight” rating reissued by stock analysts at Stephens in a report released on Thursday,Benzinga reports. They currently have a $140.00 price target on the biotechnology company’s stock. Stephens’ target price points to a potential upside of 60.51% from the stock’s previous close.

BPMC has been the subject of several other reports. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. 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. Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. UBS Group began coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target on the stock. One 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Blueprint Medicines Stock Up 0.5 %

Blueprint Medicines stock opened at $87.22 on Thursday. 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 company has a market capitalization of $5.54 billion, a P/E ratio of -41.34 and a beta of 0.59. The firm has a 50 day moving average price of $92.84 and a 200-day moving average price of $96.20. Blueprint Medicines has a twelve month low of $72.24 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. During the same quarter in the prior year, the company earned ($2.20) EPS. The firm’s quarterly revenue was up 126.5% compared to the same quarter last year. As a group, equities analysts predict that Blueprint Medicines will post -3.68 EPS for the current year.

Insider Transactions at Blueprint Medicines

In other news, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $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 three months, insiders sold 23,720 shares of company stock worth $2,177,846. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of large investors have recently bought and sold shares of BPMC. Wellington Management Group LLP grew its holdings in shares of Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after purchasing an additional 729,055 shares during the last quarter. State Street Corp grew its holdings in Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares during the last quarter. Geode Capital Management LLC grew its holdings in Blueprint Medicines by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after acquiring an additional 20,703 shares during the last quarter. American Century Companies Inc. increased its position in shares of Blueprint Medicines by 4.2% in the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after acquiring an additional 32,600 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after acquiring an additional 529,566 shares during the last quarter.

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.