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

Blueprint Medicines Co. (NASDAQ:BPMC) has been given a consensus rating of “Moderate Buy” by the twenty-one brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $122.11.

Several brokerages recently commented on BPMC. HC Wainwright restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Guggenheim increased their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target for the company. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Barclays increased their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th.

Insider Buying and Selling

In related news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently bought and sold shares of the company. Triad Wealth Partners LLC bought a new position in Blueprint Medicines in the 2nd quarter valued at about $27,000. Covestor Ltd increased its holdings in Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 291 shares during the period. Quarry LP bought a new position in Blueprint Medicines in the 3rd quarter valued at about $32,000. Headlands Technologies LLC increased its holdings in Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares during the period. Finally, Natixis bought a new position in Blueprint Medicines in the 1st quarter valued at about $73,000.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $94.15 on Friday. Blueprint Medicines has a 12 month low of $66.61 and a 12 month high of $121.90. The firm has a fifty day simple moving average of $90.36 and a 200 day simple moving average of $98.60. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -44.62 and a beta of 0.59. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the prior year, the company posted ($2.20) earnings per share. The firm’s revenue was up 126.5% on a year-over-year basis. Research analysts forecast that Blueprint Medicines will post -3.66 EPS for the current fiscal year.

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.