Blueprint Medicines’ (BPMC) “Buy” Rating Reaffirmed at HC Wainwright

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $125.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 34.41% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Monday, February 26th. Stifel Nicolaus lifted their price target on shares of Blueprint Medicines from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Barclays lifted their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Wedbush reiterated an “outperform” rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Monday, February 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $114.00 price target on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines currently has an average rating of “Hold” and a consensus target price of $91.57.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $93.00 on Friday. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $101.00. The stock has a market cap of $5.69 billion, a P/E ratio of -11.12 and a beta of 0.63. The company has a 50-day moving average price of $90.79 and a 200 day moving average price of $79.00. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data 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 firm had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. During the same period last year, the business earned ($2.65) earnings per share. Blueprint Medicines’s revenue was up 85.5% compared to the same quarter last year. Sell-side analysts anticipate that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Activity

In related news, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is currently owned by company insiders.

Institutional Trading of Blueprint Medicines

Institutional investors have recently modified their holdings of the stock. Compass Wealth Management LLC purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $69,000. PNC Financial Services Group Inc. lifted its position in shares of Blueprint Medicines by 63.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after buying an additional 329 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares during the last quarter. Cutler Group LLC CA lifted its position 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 worth $50,000 after buying an additional 944 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $95,000.

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.