Blueprint Medicines (NASDAQ:BPMC) Rating Increased to Market Perform at Leerink Partnrs

Leerink Partnrs upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from an underperform rating to a market perform rating in a research note published on Monday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Blueprint Medicines’ Q2 2024 earnings at ($1.10) EPS, Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($3.82) EPS, FY2025 earnings at $1.71 EPS, FY2026 earnings at $4.42 EPS and FY2027 earnings at $5.34 EPS.

Other equities analysts also recently issued research reports about the company. Citigroup boosted their target price on Blueprint Medicines from $65.00 to $76.00 and gave the stock a sell rating in a research note on Friday, May 3rd. The Goldman Sachs Group upped their price objective on Blueprint Medicines from $121.00 to $168.00 and gave the company a buy rating in a research note on Monday. SVB Leerink raised shares of Blueprint Medicines from an underperform rating to a market perform rating and boosted their price target for the stock from $50.00 to $97.00 in a report on Monday. Piper Sandler raised their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus increased their target price on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of Hold and a consensus price target of $100.31.

Blueprint Medicines Trading Down 0.4 %

Shares of Blueprint Medicines stock opened at $108.34 on Monday. The company has a market capitalization of $6.63 billion, a P/E ratio of -22.52 and a beta of 0.65. The stock has a fifty day simple moving average of $92.74 and a 200 day simple moving average of $82.19. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $110.93. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The firm had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same quarter in the prior year, the business posted ($2.65) EPS. The business’s revenue was up 85.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,406,425.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction 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 completion of the sale, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Landsittel sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total value of $1,050,000.00. Following the completion of the transaction, the chief financial officer now owns 47,286 shares in the company, valued at $4,965,030. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,123 shares of company stock valued at $9,554,679. Corporate insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Blueprint Medicines by 0.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after buying an additional 145 shares in the last quarter. US Bancorp DE raised its stake in shares of Blueprint Medicines by 5.2% during the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock worth $353,000 after acquiring an additional 183 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 193 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Blueprint Medicines by 1.7% in the 4th 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 in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Blueprint Medicines by 2.9% during the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after purchasing an additional 318 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.