Blueprint Medicines (NASDAQ:BPMC) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $126.00 price objective on the biotechnology company’s stock.

BPMC has been the subject of a number of other research reports. Guggenheim raised their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, October 31st. Wells Fargo & Company reduced their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Robert W. Baird raised their price objective on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, UBS Group assumed coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.11.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $88.69 on Thursday. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -42.03 and a beta of 0.59. Blueprint Medicines has a one year low of $62.56 and a one year high of $121.90. The company has a 50-day simple moving average of $89.59 and a 200-day simple moving average of $98.94. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the prior year, the business earned ($2.20) earnings per share. The company’s quarterly revenue was up 126.5% compared to the same quarter last year. On average, analysts predict that Blueprint Medicines will post -3.61 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.21% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new position in Blueprint Medicines in the second quarter valued at about $1,060,000. Comerica Bank grew its position in Blueprint Medicines by 2,582.9% in the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock valued at $1,028,000 after buying an additional 10,435 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after purchasing an additional 13,579 shares during the period. SG Americas Securities LLC raised its position in Blueprint Medicines by 82.8% in the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock worth $2,337,000 after acquiring an additional 9,819 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Blueprint Medicines by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after purchasing an additional 195,007 shares during 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.