Blueprint Medicines (NASDAQ:BPMC) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a sell rating to a hold rating in a report released on Friday.

A number of other analysts have also recently commented on BPMC. Wedbush reiterated an outperform rating and issued a $110.00 price target on shares of Blueprint Medicines in a research note on Friday, April 26th. JMP Securities raised their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company a market outperform rating in a research note on Friday. Needham & Company LLC reissued a buy rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Thursday. Stifel Nicolaus raised their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, April 26th. Finally, HC Wainwright boosted their target price on Blueprint Medicines from $125.00 to $135.00 and gave the stock a buy rating in a report on Friday. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines presently has a consensus rating of Hold and a consensus price target of $94.87.

Blueprint Medicines Stock Up 0.2 %

Blueprint Medicines stock traded up $0.19 during mid-day trading on Friday, reaching $107.19. The company’s stock had a trading volume of 1,004,153 shares, compared to its average volume of 698,730. The business’s 50 day simple moving average is $91.77 and its 200 day simple moving average is $80.52. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.22. The firm had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative return on equity of 215.07% and a negative net margin of 102.15%. The business’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.65) earnings per share. Equities analysts forecast that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christopher K. Murray sold 621 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blueprint Medicines news, CEO Kate Haviland sold 12,464 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $1,130,360.16. Following the transaction, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at approximately $13,891,622.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now directly owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The disclosure for this sale can be found here. Insiders sold 92,289 shares of company stock worth $8,314,163 in the last quarter. 3.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Blueprint Medicines by 63.4% in 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 during the last quarter. Cutler Group LLC CA lifted its stake in Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 944 shares during the last quarter. Compass Wealth Management LLC acquired a new stake in Blueprint Medicines in the fourth quarter valued at approximately $69,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Blueprint Medicines by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after buying an additional 757 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake 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 worth $80,000 after buying an additional 193 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.