Blueprint Medicines (NASDAQ:BPMC) Coverage Initiated at Morgan Stanley

Investment analysts at Morgan Stanley began coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set an “equal weight” rating and a $100.00 price target on the biotechnology company’s stock. Morgan Stanley’s price objective points to a potential upside of 12.71% from the stock’s previous close.

A number of other analysts have also weighed in on BPMC. JPMorgan Chase & Co. raised their target price on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and issued a $128.00 price target on shares of Blueprint Medicines in a report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a report on Thursday, February 13th. Stephens reiterated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. Finally, Wolfe Research initiated coverage on Blueprint Medicines in a report on Tuesday. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.95.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $88.72 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The stock has a fifty day moving average price of $99.47 and a two-hundred day moving average price of $93.88. Blueprint Medicines has a 52-week low of $80.68 and a 52-week high of $121.90. The firm has a market capitalization of $5.67 billion, a P/E ratio of -82.15 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, insider Ariel Hurley sold 2,250 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the sale, the insider now owns 14,967 shares in the company, valued at $1,496,700. This represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were 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 in the company, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,334 shares of company stock valued at $3,103,512. Company insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Torray Investment Partners LLC increased its position in shares of Blueprint Medicines by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after acquiring an additional 186 shares during the last quarter. Sherbrooke Park Advisers LLC lifted its holdings in Blueprint Medicines by 8.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company’s stock worth $294,000 after acquiring an additional 261 shares during the period. Franklin Resources Inc. lifted its holdings in Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after acquiring an additional 265 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Blueprint Medicines by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock worth $580,000 after acquiring an additional 283 shares during the period. Finally, Pitcairn Co. lifted its holdings in Blueprint Medicines by 2.8% during the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock worth $925,000 after acquiring an additional 293 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.