Blueprint Medicines (NASDAQ:BPMC) Receives “Buy” Rating from Needham & Company LLC

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Friday, Benzinga reports. They presently have a $97.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 6.91% from the stock’s previous close.

A number of other research analysts have also recently issued reports on BPMC. Wedbush reissued an “outperform” rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research note on Monday, February 5th. HC Wainwright reissued a “buy” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday. JMP Securities reissued a “market outperform” rating and issued a $114.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Barclays lifted their price objective on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Blueprint Medicines from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines has an average rating of “Hold” and a consensus target price of $88.29.

Blueprint Medicines Stock Down 1.7 %

NASDAQ BPMC opened at $90.73 on Friday. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60. Blueprint Medicines has a 1-year low of $43.89 and a 1-year high of $101.00. The company has a 50 day moving average of $90.73 and a 200-day moving average of $78.51. The company has a market cap of $5.55 billion, a price-to-earnings ratio of -10.85 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The company had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same period in the previous year, the business earned ($2.65) earnings per share. The firm’s quarterly revenue was up 85.5% on a year-over-year basis. On average, equities research analysts expect that Blueprint Medicines will post -5.41 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Christopher K. Murray sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the transaction, the insider now owns 24,495 shares in the company, valued at $2,449,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Christopher K. Murray sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the transaction, the insider now owns 24,495 shares in the company, valued at $2,449,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares in the company, valued at approximately $3,406,425.10. The disclosure for this sale can be found here. Insiders have sold a total of 92,289 shares of company stock worth $8,314,163 over the last quarter. Company insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Blueprint Medicines by 0.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after purchasing an additional 145 shares during the period. Van ECK Associates Corp raised its holdings in shares of Blueprint Medicines by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after purchasing an additional 247 shares during the period. Diversified Trust Co increased its position in shares of Blueprint Medicines by 2.9% during the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after acquiring an additional 318 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 329 shares in 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.