Blueprint Medicines (NASDAQ:BPMC) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $130.00 target price on the biotechnology company’s stock.

A number of other analysts also recently weighed in on the company. SVB Leerink upgraded Blueprint Medicines from an underperform rating to a market perform rating and upped their target price for the company from $50.00 to $97.00 in a research report on Monday, May 6th. Wedbush reiterated an outperform rating and set a $110.00 target price on shares of Blueprint Medicines in a research report on Friday, April 26th. Stephens began coverage on Blueprint Medicines in a research report on Tuesday, May 14th. They set an overweight rating and a $140.00 target price for the company. Piper Sandler upped their target price on Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Finally, Stifel Nicolaus upped their target price on Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $110.20.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC opened at $107.78 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The stock’s fifty day moving average price is $103.28 and its two-hundred day moving average price is $92.64. Blueprint Medicines has a one year low of $43.89 and a one year high of $111.42. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of -22.41 and a beta of 0.70.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data 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 return on equity of 193.48% and a negative net margin of 102.15%. The firm had revenue of $96.12 million for the quarter, compared to analyst estimates of $82.58 million. On average, equities analysts forecast that Blueprint Medicines will post -5.15 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Ariel Hurley sold 1,834 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total value of $190,515.92. Following the completion of the transaction, the insider now directly owns 14,913 shares in the company, valued at $1,549,162.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Blueprint Medicines news, insider Ariel Hurley sold 1,834 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total value of $190,515.92. Following the completion of the transaction, the insider now directly owns 14,913 shares in the company, valued at $1,549,162.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Percy H. Carter sold 4,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total value of $420,520.00. Following the completion of the transaction, the insider now owns 41,895 shares of the company’s stock, valued at $4,404,421.35. The disclosure for this sale can be found here. Insiders sold a total of 128,898 shares of company stock worth $13,510,865 in the last ninety days. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of BPMC. Covestor Ltd increased its stake in shares of Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 291 shares during the period. Headlands Technologies LLC increased its stake in shares of Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares during the period. Compass Wealth Management LLC acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $69,000. Natixis acquired a new stake in shares of Blueprint Medicines in the first quarter valued at about $73,000. Finally, Van ECK Associates Corp increased its stake 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 valued at $80,000 after buying 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.