Morgan Stanley Begins Coverage on Blueprint Medicines (NASDAQ:BPMC)

Analysts at Morgan Stanley started coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a note issued to investors on Thursday. The firm set an “equal weight” rating and a $100.00 price target on the biotechnology company’s stock. Morgan Stanley’s target price would indicate a potential upside of 10.05% from the stock’s current price.

A number of other research firms have also recently issued reports on BPMC. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Stephens reaffirmed an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. Scotiabank assumed coverage on Blueprint Medicines in a research report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price target for the company. Jefferies Financial Group started coverage on Blueprint Medicines in a report on Monday. They set a “buy” rating and a $135.00 price target on the stock. Finally, Wolfe Research started coverage on shares of Blueprint Medicines in a research note on Tuesday. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.95.

Blueprint Medicines Stock Up 0.4 %

Shares of BPMC stock traded up $0.39 during trading hours on Thursday, hitting $90.87. 48,144 shares of the company were exchanged, compared to its average volume of 1,001,765. The business’s 50-day simple moving average is $99.49 and its two-hundred day simple moving average is $93.96. Blueprint Medicines has a one year low of $80.68 and a one year high of $121.90. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of -83.95 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Sell-side analysts predict that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares in the company, valued at approximately $1,692,167.40. The trade was a 14.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $102.28, for a total value of $511,400.00. Following the completion of the sale, the director now owns 157,557 shares of the company’s stock, valued at $16,114,929.96. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,334 shares of company stock worth $3,103,512 over the last ninety days. 4.21% of the stock is currently owned by company insiders.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently made changes to their positions in BPMC. Swiss National Bank increased its stake in shares of Blueprint Medicines by 1.6% in the third quarter. Swiss National Bank now owns 116,200 shares of the biotechnology company’s stock worth $10,748,000 after acquiring an additional 1,800 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in Blueprint Medicines by 11.6% in the third quarter. Segall Bryant & Hamill LLC now owns 141,622 shares of the biotechnology company’s stock valued at $13,100,000 after purchasing an additional 14,668 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Blueprint Medicines in the third quarter valued at about $475,000. Advisors Asset Management Inc. grew its stake in shares of Blueprint Medicines by 17.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 5,054 shares of the biotechnology company’s stock valued at $467,000 after buying an additional 756 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Blueprint Medicines in the third quarter worth approximately $6,465,000.

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.