Blueprint Medicines (NASDAQ:BPMC) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a research note released on Friday.

BPMC has been the subject of a number of other reports. Piper Sandler lifted their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a report on Thursday. Wells Fargo & Company reduced their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday. Finally, Stephens reissued an “overweight” rating and issued a $140.00 target price on shares of Blueprint Medicines in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Stock Down 1.3 %

Shares of NASDAQ BPMC opened at $93.94 on Friday. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of -44.52 and a beta of 0.62. 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 moving average of $99.61 and a two-hundred day moving average of $94.66. Blueprint Medicines has a 1 year low of $77.57 and a 1 year high of $121.90.

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

Insider Activity

In related news, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value 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 trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,851 shares of company stock valued at $4,984,696 over the last quarter. Corporate insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds have recently added to or reduced their stakes in BPMC. Quarry LP acquired a new stake in Blueprint Medicines in the third quarter valued at about $32,000. R Squared Ltd acquired a new stake in shares of Blueprint Medicines during the 4th quarter valued at approximately $51,000. Covestor Ltd lifted its position in shares of Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 403 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Blueprint Medicines during the 4th quarter valued at approximately $65,000. Finally, Thematics Asset Management acquired a new stake in shares of Blueprint Medicines during the 4th quarter valued at approximately $72,000.

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.