Blueprint Medicines (NASDAQ:BPMC) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $133.00 price objective on the biotechnology company’s stock.

Several other research analysts have also weighed in on BPMC. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Guggenheim increased their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays increased their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. UBS Group began coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target on the stock. Finally, Oppenheimer upped their price target on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.39.

Blueprint Medicines Price Performance

BPMC stock opened at $90.70 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. The business has a 50 day simple moving average of $88.79 and a 200-day simple moving average of $98.39. The firm has a market capitalization of $5.75 billion, a PE ratio of -42.99 and a beta of 0.58. Blueprint Medicines has a 1 year low of $56.74 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 118.86% and a negative net margin of 29.48%. The firm’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.20) earnings per share. Equities research analysts anticipate that Blueprint Medicines will post -3.82 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the sale, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares in the company, valued at $3,236,395.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Triad Wealth Partners LLC acquired a new stake in Blueprint Medicines in the second quarter valued at $27,000. Covestor Ltd grew its holdings in shares of Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 291 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares during the last quarter. Natixis purchased a new position in shares of Blueprint Medicines during the first quarter worth about $73,000. Finally, CWM LLC grew its holdings in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares during the last quarter.

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.