Blueprint Medicines’ (BPMC) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Friday,Benzinga reports. HC Wainwright currently has a $135.00 target price on the biotechnology company’s stock.

A number of other research analysts have also recently weighed in on the company. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Trading Down 7.3 %

Shares of BPMC stock opened at $88.69 on Friday. The firm’s 50-day simple moving average is $89.59 and its 200-day simple moving average is $98.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines has a 1-year low of $62.56 and a 1-year high of $121.90. The firm has a market cap of $5.63 billion, a P/E ratio of -42.03 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. The firm 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 quarter in the prior year, the business posted ($2.20) earnings per share. As a group, equities analysts forecast that Blueprint Medicines will post -3.61 EPS for the current year.

Insider Transactions at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the firm’s 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 directly owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Blueprint Medicines by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after acquiring an additional 20,703 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Blueprint Medicines by 13.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 22,557 shares of the biotechnology company’s stock valued at $2,087,000 after purchasing an additional 2,741 shares during the period. Y Intercept Hong Kong Ltd grew its stake in Blueprint Medicines by 27.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,662 shares of the biotechnology company’s stock worth $246,000 after buying an additional 576 shares during the last quarter. Zimmer Partners LP acquired a new stake in Blueprint Medicines in the third quarter worth $1,952,000. Finally, Wellington Management Group LLP lifted its stake in Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after buying an additional 729,055 shares during the last quarter.

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.