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

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a report issued on Wednesday,Benzinga reports. They currently have a $125.00 price objective on the biotechnology company’s stock. JMP Securities’ price target would suggest a potential upside of 20.25% from the company’s current price.

BPMC has been the topic of a number of other reports. Wedbush reissued an “outperform” rating and set a $124.00 price target (down from $135.00) on shares of Blueprint Medicines in a research report on Monday. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Stephens reiterated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and an average target price of $122.72.

Blueprint Medicines Trading Down 0.9 %

NASDAQ:BPMC opened at $103.95 on Wednesday. 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 $72.24 and a 1-year high of $121.90. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of -49.27 and a beta of 0.61. The business’s 50-day moving average price is $93.85 and its two-hundred day moving average price is $95.36.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same period last year, the company posted ($2.20) EPS. On average, equities 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 stock in a transaction that occurred 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 owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 15,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the transaction, the director now owns 157,557 shares in the company, valued at approximately $14,143,891.89. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,970 shares of company stock valued at $2,914,246. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently made changes to their positions in BPMC. Wellington Management Group LLP increased its holdings in shares of Blueprint Medicines by 22.5% during the 3rd 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 increased its holdings in shares of 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 last quarter. Geode Capital Management LLC increased its holdings in shares of 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 valued at $136,942,000 after purchasing an additional 20,703 shares during the last quarter. Millennium Management LLC raised its position in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after purchasing an additional 529,566 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Blueprint Medicines by 9.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock worth $55,244,000 after buying an additional 50,736 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.