Blueprint Medicines (NASDAQ:BPMC) Rating Lowered to “Sell” at StockNews.com

Blueprint Medicines (NASDAQ:BPMC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Several other research firms have also issued reports on BPMC. Wedbush reissued an “outperform” rating and set a $128.00 target price (up from $124.00) on shares of Blueprint Medicines in a research note on Thursday. Wells Fargo & Company lowered their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday. Stephens reiterated an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines currently has an average rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Stock Down 1.3 %

Blueprint Medicines stock opened at $93.94 on Friday. Blueprint Medicines has a 52 week low of $77.57 and a 52 week high of $121.90. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -44.52 and a beta of 0.62. The business’s 50-day moving average price is $99.61 and its 200 day moving average price is $94.57. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. As a group, sell-side analysts anticipate that Blueprint Medicines will post -3.63 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 1,819 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the transaction, the insider now directly owns 14,967 shares in the company, valued at approximately $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction on Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now owns 150,824 shares in the company, valued at $14,569,598.40. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,851 shares of company stock worth $4,984,696 in the last 90 days. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BPMC. Vanguard Group Inc. lifted its holdings in shares of Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock worth $590,905,000 after acquiring an additional 91,450 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Blueprint Medicines by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock worth $495,331,000 after purchasing an additional 291,822 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock worth $373,421,000 after buying an additional 316,754 shares during the period. State Street Corp grew its stake 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 buying an additional 385,818 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Blueprint Medicines by 16.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock valued at $169,616,000 after buying an additional 269,896 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.