Blueprint Medicines (NASDAQ:BPMC) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of Blueprint Medicines (NASDAQ:BPMC) to a strong-buy rating in a research note published on Friday, Zacks.com reports.

A number of other analysts have also recently issued reports on the stock. Guggenheim increased their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a buy rating in a research note on Friday. Wedbush restated an outperform rating and set a $110.00 price objective on shares of Blueprint Medicines in a research report on Friday, April 26th. The Goldman Sachs Group increased their price objective on Blueprint Medicines from $121.00 to $168.00 and gave the stock a buy rating in a research note on Monday, May 6th. StockNews.com upgraded shares of Blueprint Medicines from a sell rating to a hold rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus lifted their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $120.00.

Blueprint Medicines Stock Down 0.2 %

Shares of NASDAQ BPMC traded down $0.23 during mid-day trading on Friday, hitting $92.74. 898,889 shares of the stock traded hands, compared to its average volume of 731,377. The company has a market cap of $5.81 billion, a price-to-earnings ratio of -19.33 and a beta of 0.63. The stock has a fifty day moving average price of $108.55 and a 200-day moving average price of $97.42. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $121.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.49. The company had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 176.65%. Blueprint Medicines’s revenue for the quarter was up 139.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.19) EPS. Research analysts anticipate that Blueprint Medicines will post -4.67 EPS for the current year.

Insider Buying and Selling

In other news, insider Debra Durso-Bumpus sold 8,817 shares of Blueprint Medicines stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Debra Durso-Bumpus sold 8,817 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider L. Becker Hewes sold 34,108 shares of Blueprint Medicines stock in a transaction on Friday, May 31st. The shares were sold at an average price of $105.91, for a total transaction of $3,612,378.28. Following the completion of the transaction, the insider now directly owns 36,860 shares in the company, valued at $3,903,842.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,064 shares of company stock worth $13,716,726. Company insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several large investors have recently modified their holdings of BPMC. Triad Wealth Partners LLC purchased a new position in shares of 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 first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 291 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 342 shares during the period. Natixis purchased a new stake in shares of Blueprint Medicines during the 1st quarter worth approximately $73,000. Finally, Van ECK Associates Corp grew its holdings in shares of Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 193 shares during the period.

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.