Blueprint Medicines Co. (NASDAQ:BPMC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been assigned an average rating of “Moderate Buy” from the twenty-three research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $124.95.

A number of brokerages have weighed in on BPMC. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Stephens reissued an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, Scotiabank began coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price target on the stock.

Blueprint Medicines Stock Down 1.1 %

BPMC stock opened at $89.73 on Friday. The company has a market cap of $5.73 billion, a PE ratio of -83.08 and a beta of 0.58. 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 has a 52 week low of $80.68 and a 52 week high of $121.90. The business has a 50-day simple moving average of $98.55 and a 200 day simple moving average of $93.92.

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 net margin of 13.19% and a negative return on equity of 77.49%. Sell-side analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 15,161 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total value of $1,660,584.33. Following the completion of the sale, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction that occurred on 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 directly owns 149,378 shares of the company’s stock, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,608 shares of company stock worth $3,319,587 over the last three months. 4.21% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Institutional investors have recently made changes to their positions in the company. Avoro Capital Advisors LLC purchased a new position in Blueprint Medicines in the fourth quarter valued at approximately $103,356,000. Wellington Management Group LLP grew its position in shares of Blueprint Medicines by 22.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after purchasing an additional 729,055 shares in the last quarter. Norges Bank purchased a new position in Blueprint Medicines during the fourth quarter worth about $62,028,000. State Street Corp increased its position in shares of Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after purchasing an additional 385,818 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Blueprint Medicines in the 4th quarter worth $31,417,000.

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.