Blueprint Medicines’ (BPMC) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $133.00 target price on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the company. Wedbush reissued an “outperform” rating and issued a $124.00 price target (down from $135.00) on shares of Blueprint Medicines in a research report on Monday, January 13th. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Piper Sandler lifted their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company reduced their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Trading Down 1.3 %

NASDAQ:BPMC opened at $93.94 on Thursday. 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 one year low of $77.57 and a one year high of $121.90. The company has a market cap of $5.97 billion, a PE ratio of -44.52 and a beta of 0.62. The firm has a 50-day moving average of $99.61 and a 200-day moving average of $94.57.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. As a group, equities research analysts expect that Blueprint Medicines will post -3.63 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares of the company’s stock, valued at $16,467,430.72. The trade was a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.14, for a total value of $250,458.36. Following the sale, the chief operating officer now owns 67,109 shares in the company, valued at approximately $7,391,385.26. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,851 shares of company stock worth $4,984,696. Company insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in shares of Blueprint Medicines by 411.5% in the fourth quarter. Comerica Bank now owns 13,115 shares of the biotechnology company’s stock worth $1,144,000 after buying an additional 10,551 shares in the last quarter. PDT Partners LLC purchased a new stake in Blueprint Medicines in the 4th quarter worth approximately $270,000. AQR Capital Management LLC boosted its holdings in Blueprint Medicines by 26.9% in the 4th quarter. AQR Capital Management LLC now owns 144,693 shares of the biotechnology company’s stock valued at $12,620,000 after purchasing an additional 30,635 shares during the period. Northern Trust Corp boosted its holdings in Blueprint Medicines by 9.5% in the 4th quarter. Northern Trust Corp now owns 608,392 shares of the biotechnology company’s stock valued at $53,064,000 after purchasing an additional 52,574 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Blueprint Medicines by 17.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 176,484 shares of the biotechnology company’s stock valued at $15,393,000 after purchasing an additional 26,488 shares in 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.