Blueprint Medicines Corporation (NASDAQ:BPMC) Given Average Recommendation of “Hold” by Brokerages

Blueprint Medicines Corporation (NASDAQ:BPMC) has been assigned an average rating of “Hold” from the eighteen research firms that are covering the stock, Marketbeat Ratings reports. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $130.00.

A number of brokerages have weighed in on BPMC. Citigroup upgraded shares of Blueprint Medicines from a “strong sell” rating to a “hold” rating and upped their price objective for the stock from $83.00 to $129.00 in a report on Wednesday, June 4th. Wolfe Research downgraded shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. Scotiabank downgraded shares of Blueprint Medicines from a “strong-buy” rating to a “sector perform” rating and set a $135.00 target price on the stock. in a research note on Monday, June 2nd. JMP Securities reiterated a “market perform” rating on shares of Blueprint Medicines in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company downgraded shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating and dropped their target price for the stock from $143.00 to $129.00 in a research note on Tuesday, June 17th.

Blueprint Medicines Price Performance

Shares of BPMC opened at $129.46 on Monday. The stock has a market cap of $8.36 billion, a PE ratio of -52.41 and a beta of 0.89. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $129.65. The firm’s 50-day simple moving average is $128.87 and its two-hundred day simple moving average is $106.88.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Percy H. Carter sold 1,051 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $128.25, for a total value of $134,790.75. Following the completion of the sale, the insider owned 53,155 shares in the company, valued at approximately $6,817,128.75. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the firm’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 owned 146,630 shares of the company’s stock, valued at $14,830,158.20. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC bought a new stake in shares of Blueprint Medicines in the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of Blueprint Medicines by 65.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 315 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 125 shares in the last quarter. Thematics Asset Management bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $72,000. Headlands Technologies LLC raised its stake in shares of Blueprint Medicines by 25.0% during the 1st quarter. Headlands Technologies LLC now owns 936 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 187 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Blueprint Medicines during the 1st quarter worth approximately $87,000.

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.