Blueprint Medicines (NASDAQ:BPMC) Now Covered by Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $135.00 target price on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the stock. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. StockNews.com cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a report on Thursday, February 13th. Finally, Piper Sandler raised their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.70.

Blueprint Medicines Trading Up 2.9 %

NASDAQ BPMC opened at $92.14 on Monday. The stock has a market capitalization of $5.89 billion, a P/E ratio of -85.31 and a beta of 0.58. Blueprint Medicines has a 52-week low of $80.68 and a 52-week high of $121.90. The firm has a 50-day moving average price of $99.59 and a 200 day moving average price of $94.03. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Equities research analysts expect that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now owns 18,270 shares in the company, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey W. Albers sold 15,000 shares of Blueprint Medicines stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the transaction, the director now owns 157,557 shares in the company, valued at approximately $14,143,891.89. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,608 shares of company stock worth $4,668,161. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 valued at $590,905,000 after purchasing an additional 91,450 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Blueprint Medicines by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock valued at $495,331,000 after acquiring an additional 291,822 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Blueprint Medicines by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after acquiring an additional 316,754 shares in the last quarter. State Street Corp lifted its holdings in shares of Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after acquiring an additional 385,818 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Blueprint Medicines by 16.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock valued at $169,616,000 after acquiring 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.