Blueprint Medicines (NASDAQ:BPMC) Rating Lowered to Hold at Citizens Jmp

Blueprint Medicines (NASDAQ:BPMC) was downgraded by investment analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

BPMC has been the subject of several other reports. Stephens lowered Blueprint Medicines from a “strong-buy” rating to a “hold” rating and decreased their target price for the stock from $150.00 to $135.00 in a research report on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating and set a $129.00 target price (down from $130.00) on shares of Blueprint Medicines in a research report on Monday. JMP Securities restated a “market perform” rating on shares of Blueprint Medicines in a research report on Tuesday. Needham & Company LLC lowered Blueprint Medicines from a “moderate buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, May 2nd. Fifteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.59.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC opened at $128.10 on Tuesday. Blueprint Medicines has a twelve month low of $73.04 and a twelve month high of $128.15. The firm has a market cap of $8.27 billion, a PE ratio of -118.61 and a beta of 0.83. 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 business has a fifty day moving average of $93.96 and a 200-day moving average of $95.39.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). The firm had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Blueprint Medicines’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, equities research analysts predict that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the sale, the insider now directly owns 16,944 shares in the company, valued at $1,747,434.72. This represents a 13.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $101.75, for a total value of $231,379.50. Following the sale, the chief operating officer now owns 66,992 shares of the company’s stock, valued at approximately $6,816,436. This represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,574 shares of company stock valued at $1,465,528 in the last ninety days. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of the company. Intrust Bank NA raised its position 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 purchasing an additional 118 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Blueprint Medicines by 4.7% in the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company’s stock valued at $285,000 after buying an additional 146 shares during the period. Covestor Ltd increased its stake in shares of Blueprint Medicines by 15.9% in the first quarter. Covestor Ltd now owns 1,128 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 155 shares during the period. Torray Investment Partners LLC increased its stake in shares of Blueprint Medicines by 1.1% in the first quarter. Torray Investment Partners LLC now owns 16,679 shares of the biotechnology company’s stock valued at $1,476,000 after buying an additional 180 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of Blueprint Medicines by 25.0% in the first quarter. Headlands Technologies LLC now owns 936 shares of the biotechnology company’s stock valued at $83,000 after buying an additional 187 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.