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

StockNews.com lowered shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a research report report published on Monday morning.

Several other research firms also recently commented on BPMC. Piper Sandler lifted their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a research report on Thursday, February 13th. Finally, Stephens reissued an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. Two investment 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 company’s stock. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $89.75 on Monday. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of -83.10 and a beta of 0.62. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines has a 1 year low of $80.68 and a 1 year high of $121.90. The firm’s 50-day moving average is $99.52 and its 200 day moving average is $94.37.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly 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%. Sell-side analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey W. Albers sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the transaction, the director now directly owns 157,557 shares in the company, valued at $14,143,891.89. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value 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. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,224 shares of company stock valued at $4,541,139. Company insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Avoro Capital Advisors LLC purchased a new stake in Blueprint Medicines in the 4th quarter worth $103,356,000. Wellington Management Group LLP boosted its stake in Blueprint Medicines by 22.5% during the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after buying an additional 729,055 shares during the last quarter. Norges Bank purchased a new position in Blueprint Medicines during the 4th quarter valued at approximately $62,028,000. State Street Corp increased its stake in Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $31,417,000.

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.