Blueprint Medicines (NASDAQ:BPMC) Earns “Outperform” Rating from Wedbush

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Friday,RTT News reports. They currently have a $128.00 price objective on the biotechnology company’s stock. Wedbush’s target price points to a potential upside of 32.55% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price target on shares of Blueprint Medicines in a research note on Thursday, February 13th. Piper Sandler lifted their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Saturday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Stock Performance

BPMC opened at $96.57 on Friday. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of -89.42 and a beta of 0.62. The company has a fifty day moving average of $99.54 and a 200 day moving average of $94.40. Blueprint Medicines has a fifty-two week low of $80.68 and a fifty-two week high of $121.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

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 13.19% and a negative return on equity of 77.49%. As a group, sell-side analysts forecast that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the sale, the insider now directly owns 14,967 shares in the company, valued at $1,395,822.42. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now owns 149,378 shares in the company, valued at $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,224 shares of company stock valued at $4,541,139. 4.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empirical Asset Management LLC purchased a new position in Blueprint Medicines in the 4th quarter valued at about $2,348,000. Stephens Inc. AR purchased a new position in Blueprint Medicines in the 4th quarter valued at about $321,000. Massachusetts Financial Services Co. MA lifted its holdings in Blueprint Medicines by 48.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock valued at $23,332,000 after purchasing an additional 82,693 shares in the last quarter. Entropy Technologies LP purchased a new position in Blueprint Medicines in the 3rd quarter valued at about $999,000. Finally, KBC Group NV lifted its holdings in shares of Blueprint Medicines by 63.9% during the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 1,023 shares during the period.

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.