Blueprint Medicines (NASDAQ:BPMC) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Thursday, Benzinga reports. The firm currently has a $135.00 price target on the biotechnology company’s stock.

BPMC has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, October 30th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. UBS Group started coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Barclays lifted their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Robert W. Baird increased their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.39.

Blueprint Medicines Price Performance

Shares of BPMC opened at $90.70 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.65. Blueprint Medicines has a 1-year low of $56.74 and a 1-year high of $121.90. The stock has a market cap of $5.76 billion, a PE ratio of -42.99 and a beta of 0.59. The firm has a fifty day moving average price of $88.79 and a 200 day moving average price of $98.48.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.20) earnings per share. As a group, sell-side analysts anticipate that Blueprint Medicines will post -3.77 EPS for the current year.

Insider Activity

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after acquiring an additional 821,868 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Blueprint Medicines by 540.0% in the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after purchasing an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Blueprint Medicines by 200,159.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after purchasing an additional 502,400 shares during the period. Point72 Asset Management L.P. increased its position in Blueprint Medicines by 79.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock worth $54,060,000 after purchasing an additional 221,813 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in Blueprint Medicines in the second quarter valued at approximately $23,817,000.

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.