Blueprint Medicines’ (BPMC) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Thursday morning,RTT News reports. They currently have a $128.00 price objective on the biotechnology company’s stock, up from their prior price objective of $124.00.

Several other research firms also recently commented on BPMC. Wells Fargo & Company reduced their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. Piper Sandler lifted their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.83.

Blueprint Medicines Trading Down 8.1 %

BPMC opened at $95.19 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. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90. The business’s 50 day moving average is $99.65 and its two-hundred day moving average is $94.77. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of -45.11 and a beta of 0.62.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly 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 net margin of 29.48% and a negative return on equity of 112.30%. On average, research analysts predict that Blueprint Medicines will post -3.63 EPS for the current year.

Insider Activity

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,161 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total value of $1,660,584.33. Following the sale, the director now owns 152,396 shares of the company’s stock, valued at $16,691,933.88. This represents a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total transaction of $216,257.40. Following the transaction, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,851 shares of company stock worth $4,984,696 over the last 90 days. 4.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Large investors have recently bought and sold shares of the stock. Pallas Capital Advisors LLC lifted its position in shares of 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 in the last quarter. Torray Investment Partners LLC raised its stake in Blueprint Medicines by 1.1% in the 4th quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after purchasing an additional 186 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after purchasing an additional 265 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Blueprint Medicines by 4.4% during the 4th quarter. Ameritas Investment Partners Inc. now owns 6,652 shares of the biotechnology company’s stock worth $580,000 after purchasing an additional 283 shares during the last quarter. Finally, Pitcairn Co. grew its holdings in shares of Blueprint Medicines by 2.8% during the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock worth $925,000 after buying an additional 293 shares in 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.