TD Cowen Downgrades Blueprint Medicines (NASDAQ:BPMC) to Hold

Blueprint Medicines (NASDAQ:BPMC) was downgraded by equities researchers at TD Cowen from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on BPMC. Citizens Jmp lowered shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They issued a “buy” rating and a $135.00 price objective on the stock. Needham & Company LLC lowered shares of Blueprint Medicines from a “moderate buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a research report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $129.00 price objective (down from $130.00) on shares of Blueprint Medicines in a research report on Monday. Finally, Morgan Stanley started coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 target price on the stock. Fifteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Hold” and a consensus target price of $125.59.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $128.10 on Tuesday. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $8.27 billion, a PE ratio of -118.61 and a beta of 0.83. The company’s 50 day simple moving average is $93.96 and its 200-day simple moving average is $95.39. Blueprint Medicines has a 12-month low of $73.04 and a 12-month high of $128.15.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million for the quarter, compared to analysts’ expectations of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business’s revenue was up 55.5% on a year-over-year basis. During the same quarter last year, the business posted $1.40 earnings per share. As a group, equities analysts predict that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total transaction of $505,700.00. Following the completion of the sale, the director now owns 146,630 shares in the company, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the sale, the chief operating officer now owns 69,266 shares of the company’s stock, 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 sold 14,574 shares of company stock worth $1,465,528 in the last 90 days. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock valued at $590,905,000 after purchasing an additional 91,450 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Blueprint Medicines by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock valued at $495,331,000 after purchasing an additional 291,822 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Blueprint Medicines by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after acquiring an additional 316,754 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Blueprint Medicines by 16.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock valued at $169,616,000 after acquiring an additional 269,896 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Blueprint Medicines by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company’s stock valued at $129,996,000 after acquiring an additional 9,914 shares in the last quarter.

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.