JMP Securities Reaffirms “Market Outperform” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a research report issued on Monday,Benzinga reports. They presently have a $125.00 price target on the biotechnology company’s stock. JMP Securities’ price objective points to a potential upside of 32.14% from the company’s current price.

Several other equities research analysts have also commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Wells Fargo & Company reduced their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. Robert W. Baird raised their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Trading Up 4.9 %

Shares of BPMC stock opened at $94.60 on Monday. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of -44.83 and a beta of 0.59. The stock has a 50-day moving average of $89.84 and a 200-day moving average of $98.73. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 1-year low of $63.50 and a 1-year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company posted ($2.20) earnings per share. On average, equities research analysts forecast that Blueprint Medicines will post -3.61 earnings per share for the current year.

Insider Buying and Selling

In other Blueprint Medicines 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 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 $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in shares of Blueprint Medicines in the second quarter valued at $27,000. Covestor Ltd boosted its holdings in Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 291 shares during the period. Quarry LP purchased a new position in shares of Blueprint Medicines during the 3rd quarter valued at $32,000. Natixis bought a new position in shares of Blueprint Medicines in the first quarter worth $73,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Blueprint Medicines in the third quarter worth $108,000.

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.