Blueprint Medicines (NASDAQ:BPMC) Receives “Outperform” Rating from Wedbush

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report released on Friday, Benzinga reports. They currently have a $110.00 price target on the biotechnology company’s stock. Wedbush’s target price points to a potential upside of 18.08% from the company’s current price.

A number of other equities research analysts also recently commented on BPMC. HC Wainwright reiterated a “buy” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday. Stifel Nicolaus increased their target price on shares of Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. JMP Securities reaffirmed a “market outperform” rating and set a $114.00 price target on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Citigroup lifted their price target on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research note on Friday, February 16th. Finally, Barclays boosted their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.21.

Blueprint Medicines Stock Performance

NASDAQ BPMC traded up $2.43 during trading on Friday, hitting $93.16. The company’s stock had a trading volume of 147,905 shares, compared to its average volume of 756,517. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The firm has a 50 day moving average price of $90.73 and a 200 day moving average price of $78.51. The firm has a market cap of $5.70 billion, a P/E ratio of -11.20 and a beta of 0.63. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The company had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same quarter last year, the firm earned ($2.65) EPS. Blueprint Medicines’s revenue for the quarter was up 85.5% compared to the same quarter last year. Equities research analysts forecast that Blueprint Medicines will post -5.41 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the completion of the transaction, the chief financial officer now owns 47,286 shares in the company, valued at approximately $4,492,170. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the sale, the insider now directly owns 36,374 shares in the company, valued at $3,406,425.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,289 shares of company stock valued at $8,314,163. Corporate insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Blueprint Medicines by 8.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 36,929 shares of the biotechnology company’s stock worth $3,503,000 after purchasing an additional 2,884 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Blueprint Medicines during the 1st quarter worth approximately $218,000. Diversified Trust Co boosted its stake in shares of Blueprint Medicines by 3.6% during the 1st quarter. Diversified Trust Co now owns 14,472 shares of the biotechnology company’s stock worth $1,373,000 after acquiring an additional 498 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $9,768,000. Finally, Vanguard Group Inc. boosted its stake in shares of Blueprint Medicines by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock worth $564,045,000 after acquiring an additional 147,827 shares during the period.

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.