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

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $124.95.

A number of equities research analysts recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price objective on shares of Blueprint Medicines in a research note on Tuesday, April 8th. Wolfe Research started coverage on Blueprint Medicines in a research note on Tuesday, March 18th. They issued an “outperform” rating on the stock. Piper Sandler upped their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Scotiabank began coverage on Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price objective for the company.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $82.53 on Tuesday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of -76.42 and a beta of 0.75. The company has a 50-day simple moving average of $90.36 and a two-hundred day simple moving average of $93.47. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines has a 12-month low of $73.04 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, equities analysts forecast that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. This represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,358 shares of company stock valued at $2,583,187 in the last ninety days. 4.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

Institutional investors have recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC bought a new position in Blueprint Medicines during the 4th quarter valued at about $103,356,000. Norges Bank bought a new position in Blueprint Medicines during the fourth quarter valued at approximately $62,028,000. Jennison Associates LLC purchased a new stake in Blueprint Medicines in the fourth quarter worth approximately $31,417,000. Rock Springs Capital Management LP grew its position in Blueprint Medicines by 42.7% in the 4th quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company’s stock worth $95,672,000 after purchasing an additional 328,123 shares during the period. Finally, Wellington Management Group LLP grew its position in Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock worth $373,421,000 after purchasing an additional 316,754 shares during the period.

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.