Blueprint Medicines (NASDAQ:BPMC) Receives “Outperform” Rating from Wedbush

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $110.00 target price on the biotechnology company’s stock. Wedbush’s price target suggests a potential upside of 18.28% from the stock’s previous close.

Several other brokerages have also recently issued reports on BPMC. HC Wainwright reissued a “buy” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday. Stifel Nicolaus raised their target price on shares of Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Citigroup raised their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a report on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and set a $97.00 target price on shares of Blueprint Medicines in a report on Friday. Finally, JMP Securities reissued a “market outperform” rating and set a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Hold” and a consensus price target of $91.57.

Blueprint Medicines Trading Up 2.5 %

NASDAQ BPMC opened at $93.00 on Friday. The company has a fifty day simple moving average of $90.79 and a two-hundred day simple moving average of $79.00. The stock has a market cap of $5.69 billion, a P/E ratio of -11.12 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 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 posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The business had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The business’s quarterly revenue was up 85.5% on a year-over-year basis. During the same quarter last year, the company posted ($2.65) earnings per share. On average, analysts forecast that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In related news, EVP Tracey L. Mccain sold 5,194 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $471,043.86. Following the sale, the executive vice president now owns 60,498 shares in the company, valued at $5,486,563.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction dated 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 in the company, valued at $15,365,644. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tracey L. Mccain sold 5,194 shares of Blueprint Medicines stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $471,043.86. Following the completion of the sale, the executive vice president now owns 60,498 shares in the company, valued at approximately $5,486,563.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,289 shares of company stock worth $8,314,163. 3.88% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Several large investors have recently bought and sold shares of the business. Peregrine Capital Management LLC grew its stake in Blueprint Medicines by 2.0% during the 1st quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company’s stock valued at $8,877,000 after acquiring an additional 1,810 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Blueprint Medicines by 8.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,929 shares of the biotechnology company’s stock valued at $3,503,000 after purchasing an additional 2,884 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Blueprint Medicines in the 1st quarter valued at about $218,000. Diversified Trust Co boosted its holdings in Blueprint Medicines by 3.6% in the 1st quarter. Diversified Trust Co now owns 14,472 shares of the biotechnology company’s stock valued at $1,373,000 after purchasing an additional 498 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Blueprint Medicines in the 4th quarter valued at about $9,768,000.

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.