Blueprint Medicines’ (BPMC) Buy Rating Reiterated at HC Wainwright

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

Other equities analysts also recently issued research reports about the stock. Morgan Stanley began coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price target for the company. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upped their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Scotiabank assumed coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price target for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.22.

Blueprint Medicines Stock Up 5.4 %

NASDAQ:BPMC opened at $104.64 on Friday. Blueprint Medicines has a 52 week low of $73.04 and a 52 week high of $121.90. The stock’s fifty day moving average is $87.69 and its two-hundred day moving average is $93.38. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of -96.89 and a beta of 0.83. 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 (NASDAQ:BPMC) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The firm had revenue of $149.41 million for the quarter, compared to analysts’ expectations of $158.31 million. During the same quarter last year, the business earned $1.40 earnings per share. The business’s revenue was up 55.5% compared to the same quarter last year. Research analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ariel Hurley sold 3,203 shares of the stock in a transaction 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 sale, the insider now directly owns 18,270 shares of the company’s stock, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

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

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.