Blueprint Medicines (NASDAQ:BPMC) Raised to Market Perform at SVB Leerink

Blueprint Medicines (NASDAQ:BPMC) was upgraded by investment analysts at SVB Leerink from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage currently has a $97.00 target price on the biotechnology company’s stock, up from their previous target price of $50.00. SVB Leerink’s target price indicates a potential downside of 10.64% from the stock’s current price.

Several other analysts also recently weighed in on the stock. JMP Securities lifted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company a “market outperform” rating in a report on Friday, May 3rd. Barclays lifted their target price on shares of Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Stifel Nicolaus lifted their target price on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Finally, HC Wainwright raised their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, six 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 currently has a consensus rating of “Hold” and a consensus price target of $100.31.

Blueprint Medicines Trading Up 2.2 %

Shares of Blueprint Medicines stock opened at $108.55 on Monday. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $110.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The company has a market capitalization of $6.64 billion, a P/E ratio of -22.57 and a beta of 0.65. The company’s fifty day moving average is $92.17 and its two-hundred day moving average is $81.81.

Blueprint Medicines (NASDAQ:BPMC) last issued 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. The company had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. Blueprint Medicines’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same period last year, the firm posted ($2.65) EPS. Analysts forecast that Blueprint Medicines will post -5.38 earnings per share for the current year.

Insiders Place Their Bets

In other Blueprint Medicines 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 transaction of $2,188,371.44. Following the completion of the transaction, 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 is accessible through this hyperlink. In other news, CFO Michael Landsittel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. Following the completion of the transaction, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,965,030. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $15,365,644. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,123 shares of company stock worth $9,554,679. Insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors have recently modified their holdings of BPMC. Readystate Asset Management LP purchased a new stake in Blueprint Medicines in the fourth quarter valued at approximately $3,692,000. American Century Companies Inc. grew its stake in Blueprint Medicines by 5.2% during the third quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock worth $33,696,000 after buying an additional 33,243 shares during the period. Diversified Trust Co boosted its position in Blueprint Medicines by 2.9% in the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after buying an additional 318 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Blueprint Medicines by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 757 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Blueprint Medicines by 17.4% during the third quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock worth $8,371,000 after acquiring an additional 24,693 shares during 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.