Blueprint Medicines (NASDAQ:BPMC) Upgraded by Leerink Partnrs to Market Perform

Blueprint Medicines (NASDAQ:BPMC) was upgraded by investment analysts at Leerink Partnrs from an “underperform” rating to a “market perform” rating in a research note issued to investors on Monday, Zacks.com reports. Leerink Partnrs also issued estimates for Blueprint Medicines’ FY2027 earnings at $5.34 EPS.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research note on Thursday, May 2nd. Stifel Nicolaus lifted their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of Blueprint Medicines in a report on Friday, April 26th. Piper Sandler lifted their price objective on Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday. Finally, SVB Leerink raised Blueprint Medicines from an “underperform” rating to a “market perform” rating and upped their target price for the company from $50.00 to $97.00 in a report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $100.31.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $106.25 on Monday. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of -22.09 and a beta of 0.65. The business’s 50 day moving average is $92.00 and its two-hundred day moving average is $81.38. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $110.93. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The firm had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. During the same period in the previous year, the business earned ($2.65) earnings per share. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. Research analysts expect that Blueprint Medicines will post -5.38 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of the stock in a transaction 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 sale, the insider now owns 24,495 shares in the company, valued at approximately $2,449,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 24,495 shares in the company, valued at $2,449,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Landsittel sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total value of $1,050,000.00. Following the sale, the chief financial officer now owns 47,286 shares in the company, valued at approximately $4,965,030. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,123 shares of company stock worth $9,554,679. 3.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in Blueprint Medicines by 117.6% during the first quarter. SG Americas Securities LLC now owns 11,865 shares of the biotechnology company’s stock valued at $1,126,000 after buying an additional 6,412 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Blueprint Medicines during the first quarter valued at approximately $218,000. Principal Financial Group Inc. raised its stake in Blueprint Medicines by 331.9% during the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock valued at $5,945,000 after buying an additional 48,160 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Blueprint Medicines by 67.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,777 shares of the biotechnology company’s stock valued at $1,117,000 after buying an additional 4,745 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its stake in Blueprint Medicines by 2.0% during the first quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company’s stock valued at $8,877,000 after buying an additional 1,810 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.