Blueprint Medicines’ (BPMC) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Friday,RTT News reports. They currently have a $128.00 target price on the biotechnology company’s stock.

BPMC has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a report on Thursday, February 13th. Piper Sandler boosted their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Saturday, February 22nd. Wells Fargo & Company decreased their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $123.83.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $96.57 on Friday. Blueprint Medicines has a fifty-two week low of $80.68 and a fifty-two week high of $121.90. The firm’s 50 day moving average is $99.54 and its two-hundred day moving average is $94.39. The company has a market cap of $6.17 billion, a P/E ratio of -89.42 and a beta of 0.62. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results 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 13.19% and a negative return on equity of 77.49%. Analysts expect that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Buying and Selling

In related news, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was 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 $1,395,822.42. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 45,224 shares of company stock worth $4,541,139. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of large investors have recently modified their holdings of the company. Quarry LP bought a new position in Blueprint Medicines in the 3rd quarter worth about $32,000. R Squared Ltd bought a new position in Blueprint Medicines in the 4th quarter worth approximately $51,000. Covestor Ltd grew its holdings in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after buying an additional 403 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Blueprint Medicines in the 4th quarter valued at approximately $65,000. Finally, Thematics Asset Management bought a new stake in Blueprint Medicines during the 4th quarter valued at $72,000.

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.