Blueprint Medicines Co. (NASDAQ:BPMC) Given Consensus Rating of “Moderate Buy” by Analysts

Blueprint Medicines Co. (NASDAQ:BPMC) has earned a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $123.33.

A number of brokerages have weighed in on BPMC. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Thursday, November 14th. UBS Group initiated coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Finally, Wells Fargo & Company dropped their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st.

Insider Transactions at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 157,557 shares in the company, valued at $14,143,891.89. This trade represents a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction that occurred on 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 owns 14,967 shares in the company, valued at $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,720 shares of company stock worth $2,177,846. 4.21% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after purchasing an additional 729,055 shares during the period. State Street Corp boosted its position in shares of 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 purchasing an additional 385,818 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Blueprint Medicines by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after buying an additional 20,703 shares during the last quarter. American Century Companies Inc. increased its position in Blueprint Medicines by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after buying an additional 32,600 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after buying an additional 529,566 shares during the last quarter.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $88.35 on Friday. The company has a 50 day moving average of $93.04 and a 200 day moving average of $95.96. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The stock has a market cap of $5.61 billion, a P/E ratio of -41.87 and a beta of 0.61. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same period in the previous year, the business earned ($2.20) EPS. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. As a group, sell-side analysts forecast that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

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.