Blueprint Medicines (NASDAQ:BPMC) Given Overweight Rating at Stephens

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $140.00 target price on the biotechnology company’s stock. Stephens’ price objective suggests a potential upside of 58.46% from the company’s current price.

BPMC has been the topic of a number of other research reports. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, December 9th. UBS Group initiated coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Blueprint Medicines Trading Up 1.3 %

Shares of Blueprint Medicines stock opened at $88.35 on Thursday. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $93.04 and its 200-day moving average is $96.03. Blueprint Medicines has a 12-month low of $72.24 and a 12-month high of $121.90. The stock has a market cap of $5.61 billion, a P/E ratio of -41.87 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the prior year, the firm earned ($2.20) EPS. Blueprint Medicines’s quarterly revenue was up 126.5% compared to the same quarter last year. Equities research analysts predict that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the transaction, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the transaction, the insider now owns 14,967 shares in the company, valued at $1,395,822.42. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,720 shares of company stock valued at $2,177,846 over the last 90 days. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Blueprint Medicines during the third quarter valued at approximately $32,000. Covestor Ltd grew its stake in shares of Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 403 shares in the last quarter. Quantbot Technologies LP bought a new stake in Blueprint Medicines in the 3rd quarter worth about $108,000. Van ECK Associates Corp grew its holdings in shares of Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after acquiring an additional 131 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of Blueprint Medicines during the 3rd quarter valued at $122,000.

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.