Blueprint Medicines Co. (NASDAQ:BPMC) Given Average Rating of “Moderate Buy” by Brokerages

Blueprint Medicines Co. (NASDAQ:BPMC) has been given an average rating of “Moderate Buy” by the sixteen research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $108.00.

Several research analysts recently weighed in on BPMC shares. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. The Goldman Sachs Group raised their price target on Blueprint Medicines from $121.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Stephens assumed coverage on Blueprint Medicines in a research report on Tuesday, May 14th. They set an “overweight” rating and a $140.00 price objective on the stock. Stifel Nicolaus raised their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Citigroup lifted their price target on shares of Blueprint Medicines from $65.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 3rd.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $106.71 on Wednesday. The company has a market cap of $6.68 billion, a price-to-earnings ratio of -22.18 and a beta of 0.70. The business’s 50 day simple moving average is $100.11 and its 200 day simple moving average is $90.87. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $111.02.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.32. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company had revenue of $96.12 million for the quarter, compared to analysts’ expectations of $82.58 million. Sell-side analysts forecast that Blueprint Medicines will post -5.15 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Michael Landsittel sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Ariel Hurley sold 1,834 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total value of $190,515.92. Following the transaction, the insider now directly owns 14,913 shares in the company, valued at approximately $1,549,162.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the sale, the chief financial officer now owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,864 shares of company stock valued at $6,272,263. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of large investors have recently made changes to their positions in BPMC. Covestor Ltd raised its position in Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 291 shares during the period. Headlands Technologies LLC lifted its position in shares of Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares in the last quarter. Compass Wealth Management LLC bought a new stake in Blueprint Medicines during the 4th quarter worth approximately $69,000. Natixis purchased a new position in Blueprint Medicines during the first quarter valued at approximately $73,000. Finally, Van ECK Associates Corp boosted its position in shares of Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 193 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.