Blueprint Medicines’ (BPMC) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note published on Friday morning, Benzinga reports. The brokerage currently has a $97.00 price target on the biotechnology company’s stock.

Several other brokerages have also recently issued reports on BPMC. JMP Securities reaffirmed a market outperform rating and set a $114.00 target price on shares of Blueprint Medicines in a research report on Wednesday, April 10th. HC Wainwright reiterated a buy rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday. Stifel Nicolaus upped their price objective on shares of Blueprint Medicines from $95.00 to $97.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. Wedbush reissued an outperform rating and set a $97.00 target price on shares of Blueprint Medicines in a research report on Monday, February 5th. Finally, Citigroup boosted their target price on Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a research note on Friday, February 16th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $91.57.

Blueprint Medicines Price Performance

BPMC stock opened at $93.10 on Friday. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of -11.14 and a beta of 0.63. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $101.00. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The company’s fifty day simple moving average is $90.85 and its 200 day simple moving average is $79.52.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The business had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same period in the prior year, the firm earned ($2.65) earnings per share. Blueprint Medicines’s revenue was up 85.5% on a year-over-year basis. On average, analysts expect that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the sale, the director now owns 176,050 shares of the company’s stock, valued at $15,365,644. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael Landsittel sold 13,734 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $87.78, for a total value of $1,205,570.52. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at $4,150,765.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at $15,365,644. The disclosure for this sale can be found here. Insiders have sold a total of 92,289 shares of company stock valued at $8,314,163 over the last three months. 3.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 329 shares in the last quarter. Cutler Group LLC CA raised its holdings in shares of Blueprint Medicines by 1,685.7% during the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 944 shares in the last quarter. Compass Wealth Management LLC bought a new stake in Blueprint Medicines in the 4th quarter worth approximately $69,000. China Universal Asset Management Co. Ltd. boosted its stake in Blueprint Medicines by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after buying an additional 757 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 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.