Blueprint Medicines (NASDAQ:BPMC) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a $129.00 price objective on the biotechnology company’s stock, down from their previous price objective of $130.00.

BPMC has been the subject of several other research reports. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. HC Wainwright reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, May 2nd. Wedbush restated a “neutral” rating and set a $129.00 target price (up previously from $128.00) on shares of Blueprint Medicines in a report on Monday. Morgan Stanley assumed coverage on Blueprint Medicines in a report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 target price on the stock. Finally, Wolfe Research assumed coverage on Blueprint Medicines in a report on Tuesday, March 18th. They set an “outperform” rating on the stock. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $125.69.

Blueprint Medicines Stock Up 26.1%

NASDAQ BPMC opened at $127.79 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The firm has a 50-day simple moving average of $92.42 and a 200 day simple moving average of $94.93. Blueprint Medicines has a twelve month low of $73.04 and a twelve month high of $128.15. The stock has a market cap of $8.25 billion, a PE ratio of -118.32 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. During the same quarter in the previous year, the business posted $1.40 EPS. The firm’s quarterly revenue was up 55.5% on a year-over-year basis. On average, research analysts forecast that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Activity

In other Blueprint Medicines news, insider Ariel Hurley sold 2,752 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $103.13, for a total value of $283,813.76. Following the transaction, the insider now owns 16,944 shares of the company’s stock, valued at approximately $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value 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. The trade was a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,574 shares of company stock valued at $1,465,528 over the last 90 days. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds have recently added to or reduced their stakes in the stock. Intrust Bank NA lifted its stake in Blueprint Medicines by 3.4% in the first quarter. Intrust Bank NA now owns 3,557 shares of the biotechnology company’s stock valued at $315,000 after buying an additional 118 shares during the period. Fifth Third Bancorp raised its position in shares of Blueprint Medicines by 4.7% during the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company’s stock worth $285,000 after purchasing an additional 146 shares during the period. Covestor Ltd raised its position in shares of Blueprint Medicines by 15.9% during the first quarter. Covestor Ltd now owns 1,128 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 155 shares during the period. Torray Investment Partners LLC raised its position in shares of Blueprint Medicines by 1.1% during the first quarter. Torray Investment Partners LLC now owns 16,679 shares of the biotechnology company’s stock worth $1,476,000 after purchasing an additional 180 shares during the period. Finally, Headlands Technologies LLC raised its position in shares of Blueprint Medicines by 25.0% during the first quarter. Headlands Technologies LLC now owns 936 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 187 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.