Blueprint Medicines’ (BPMC) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report released on Monday,Benzinga reports. The brokerage currently has a $125.00 price objective on the biotechnology company’s stock.

BPMC has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wedbush restated an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, UBS Group started coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.11.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $94.57 on Monday. Blueprint Medicines has a 1-year low of $72.24 and a 1-year high of $121.90. The firm has a fifty day simple moving average of $91.66 and a 200-day simple moving average of $97.70. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -44.82 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm’s revenue was up 126.5% compared to the same quarter last year. During the same period last year, the business posted ($2.20) earnings per share. On average, sell-side analysts expect that Blueprint Medicines will post -3.68 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated 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 approximately $6,169,332.40. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,260 shares of company stock valued at $768,057 in the last ninety days. 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 added to or reduced their stakes in the stock. Triad Wealth Partners LLC bought a new stake in shares of Blueprint Medicines during the second quarter valued at approximately $27,000. Quarry LP bought a new position in Blueprint Medicines in the 3rd quarter valued at $32,000. Covestor Ltd boosted its position in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 403 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Blueprint Medicines in the 3rd quarter valued at $108,000. Finally, CWM LLC raised its position in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 590 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.