Blueprint Medicines (NASDAQ:BPMC) Downgraded to Sell Rating by StockNews.com

Blueprint Medicines (NASDAQ:BPMC) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Other equities research analysts also recently issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $128.00 price objective on shares of Blueprint Medicines in a report on Friday. Stephens reaffirmed an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Piper Sandler increased their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded down $6.82 during trading hours on Monday, reaching $89.75. The stock had a trading volume of 1,514,907 shares, compared to its average volume of 1,008,913. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The firm has a 50-day simple moving average of $99.52 and a 200-day simple moving average of $94.37. The firm has a market capitalization of $5.74 billion, a PE ratio of -83.10 and a beta of 0.62. Blueprint Medicines has a twelve month low of $80.68 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly 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%. As a group, equities analysts forecast that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares in the company, valued at approximately $16,467,430.72. This trade represents a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares in the company, valued at approximately $1,395,822.42. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,224 shares of company stock valued at $4,541,139. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock worth $590,905,000 after buying an additional 91,450 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Blueprint Medicines by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock worth $495,331,000 after acquiring an additional 291,822 shares in the last quarter. Wellington Management Group LLP boosted its position in Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after purchasing an additional 316,754 shares during the last quarter. State Street Corp boosted its position in Blueprint Medicines by 16.2% during the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after purchasing an additional 385,818 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in Blueprint Medicines by 16.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock valued at $169,616,000 after purchasing an additional 269,896 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.