JMP Securities Reaffirms Market Outperform Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a report released on Friday,Benzinga reports. They currently have a $125.00 price objective on the biotechnology company’s stock. JMP Securities’ price objective would suggest a potential upside of 33.06% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a research report on Thursday. Stephens restated an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research report on Thursday, January 2nd. HC Wainwright reiterated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday. Wedbush restated an “outperform” rating and issued a $128.00 price objective (up from $124.00) on shares of Blueprint Medicines in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Two analysts have 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Stock Down 1.3 %

Shares of NASDAQ:BPMC opened at $93.94 on Friday. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The firm has a market cap of $5.97 billion, a P/E ratio of -44.52 and a beta of 0.62. Blueprint Medicines has a 12 month low of $77.57 and a 12 month high of $121.90. The company’s 50-day moving average price is $99.61 and its two-hundred day moving average price is $94.57.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. As a group, research analysts forecast that Blueprint Medicines will post -3.63 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,161 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total value of $1,660,584.33. Following the completion of the transaction, the director now directly owns 152,396 shares of the company’s stock, valued at approximately $16,691,933.88. This represents a 9.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares in the company, valued at $14,569,598.40. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,851 shares of company stock valued at $4,984,696 over the last 90 days. 4.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC lifted its stake in Blueprint Medicines by 69.2% in the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 765 shares in the last quarter. Creative Planning raised its holdings in shares of Blueprint Medicines by 6.8% in the third quarter. Creative Planning now owns 13,194 shares of the biotechnology company’s stock valued at $1,220,000 after purchasing an additional 843 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Blueprint Medicines by 748.9% in the third quarter. NBC Securities Inc. now owns 2,725 shares of the biotechnology company’s stock worth $252,000 after purchasing an additional 2,404 shares in the last quarter. Teamwork Financial Advisors LLC acquired a new position in Blueprint Medicines during the third quarter worth $250,000. Finally, Allspring Global Investments Holdings LLC grew its position in Blueprint Medicines by 40.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,206 shares of the biotechnology company’s stock valued at $297,000 after purchasing an additional 927 shares in the last quarter.

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.