HC Wainwright Reaffirms “Buy” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 43.71% from the stock’s previous close.

BPMC has been the subject of several other reports. Wedbush reiterated an “outperform” rating and set a $128.00 price objective (up from $124.00) on shares of Blueprint Medicines in a research note on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Piper Sandler raised their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. 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. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.83.

Blueprint Medicines Trading Down 1.3 %

Shares of BPMC opened at $93.94 on Friday. Blueprint Medicines has a twelve month low of $77.57 and a twelve month high of $121.90. The firm has a market capitalization of $5.97 billion, a P/E ratio of -44.52 and a beta of 0.62. 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’s fifty day simple moving average is $99.61 and its 200 day simple moving average is $94.57.

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

Insider Buying and Selling at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the sale, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,851 shares of company stock worth $4,984,696 in the last ninety days. 4.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Blueprint Medicines by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock worth $590,905,000 after acquiring an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Blueprint Medicines by 5.4% in the fourth 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 during the period. Wellington Management Group LLP grew its holdings in shares of Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after purchasing an additional 316,754 shares during the last quarter. State Street Corp raised its position 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 worth $255,827,000 after purchasing an additional 385,818 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in shares of Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after purchasing an additional 269,896 shares during 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.