JPMorgan Chase & Co. Begins Coverage on Blueprint Medicines (NASDAQ:BPMC)

Investment analysts at JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $126.00 price target on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 42.07% from the company’s previous close.

BPMC has been the topic of several other reports. UBS Group assumed coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price target on the stock. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company reduced their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Robert W. Baird upped their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Trading Down 7.3 %

Shares of NASDAQ:BPMC opened at $88.69 on Thursday. The business has a 50-day moving average price of $89.59 and a 200-day moving average price of $98.86. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of -42.03 and a beta of 0.59. Blueprint Medicines has a 52-week low of $62.56 and a 52-week high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09.

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

Insiders Place Their Bets

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 transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after buying an additional 195,007 shares during the period. Price T Rowe Associates Inc. MD grew its position in Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after acquiring an additional 821,868 shares during the period. Wellington Management Group LLP increased its stake in Blueprint Medicines by 22.5% during the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after acquiring an additional 729,055 shares during the last quarter. State Street Corp raised its position in Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after purchasing an additional 385,818 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Blueprint Medicines by 4.2% in the 2nd quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after purchasing an additional 32,600 shares during 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.