Blueprint Medicines Co. (NASDAQ:BPMC) Receives Average Recommendation of “Moderate Buy” from Analysts

Blueprint Medicines Co. (NASDAQ:BPMC) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $91.57.

A number of brokerages recently issued reports on BPMC. Barclays upped their target price on Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a research report on Friday. Finally, Stifel Nicolaus upped their target price on Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday.

Insider Buying and Selling

In other news, CEO Kate Haviland sold 12,464 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $1,130,360.16. Following the completion of the transaction, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at $13,891,622.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kate Haviland sold 12,464 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $1,130,360.16. Following the completion of the transaction, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at $13,891,622.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher K. Murray sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 24,495 shares of the company’s stock, valued at $2,449,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors have recently added to or reduced their stakes in BPMC. Norges Bank acquired a new position in Blueprint Medicines in the fourth quarter valued at $55,893,000. Polar Capital Holdings Plc grew its position in Blueprint Medicines by 108.0% during the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after acquiring an additional 540,000 shares during the period. Rock Springs Capital Management LP grew its position in Blueprint Medicines by 22.8% during the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after acquiring an additional 498,622 shares during the period. Avidity Partners Management LP grew its position in Blueprint Medicines by 81.1% during the third quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after acquiring an additional 336,600 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Blueprint Medicines by 2,788.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock valued at $24,873,000 after acquiring an additional 260,321 shares during the period.

Blueprint Medicines Trading Up 0.1 %

BPMC opened at $93.10 on Tuesday. Blueprint Medicines has a one year low of $43.89 and a one year high of $101.00. The company has a market cap of $5.70 billion, a P/E ratio of -11.14 and a beta of 0.63. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. The business’s 50-day simple moving average is $90.85 and its 200-day simple moving average is $79.52.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The business had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. During the same quarter in the prior year, the business posted ($2.65) EPS. The business’s revenue for the quarter was up 85.5% on a year-over-year basis. As a group, equities research analysts expect that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

About Blueprint Medicines

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.