Blueprint Medicines Co. (NASDAQ:BPMC) Receives Consensus Rating of “Moderate Buy” from Analysts

Blueprint Medicines Co. (NASDAQ:BPMC) has received an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $122.11.

A number of analysts have recently weighed in on the company. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. UBS Group assumed coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Thursday. Finally, Barclays lifted their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th.

Blueprint Medicines Trading Down 7.3 %

NASDAQ BPMC opened at $88.69 on Friday. Blueprint Medicines has a one year low of $62.56 and a one year high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The firm has a market cap of $5.63 billion, a P/E ratio of -42.03 and a beta of 0.59. The stock’s 50-day moving average is $89.59 and its 200-day moving average is $98.86.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Blueprint Medicines’s revenue was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.20) earnings per share. Sell-side analysts anticipate that Blueprint Medicines will post -3.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently modified their holdings of BPMC. Allspring Global Investments Holdings LLC purchased a new position in Blueprint Medicines during the 1st quarter worth $218,000. Swiss National Bank raised its holdings in Blueprint Medicines by 0.4% during the first quarter. Swiss National Bank now owns 114,000 shares of the biotechnology company’s stock worth $10,814,000 after purchasing an additional 500 shares in the last quarter. Sei Investments Co. lifted its position in Blueprint Medicines by 36.6% in the first quarter. Sei Investments Co. now owns 45,913 shares of the biotechnology company’s stock valued at $4,355,000 after purchasing an additional 12,311 shares during the period. Headlands Technologies LLC boosted its holdings in Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Blueprint Medicines by 44.3% during the 1st quarter. Russell Investments Group Ltd. now owns 57,714 shares of the biotechnology company’s stock worth $5,475,000 after purchasing an additional 17,712 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.