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

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research note issued to investors on Thursday,RTT News reports. They presently have a $135.00 price target on the biotechnology company’s stock. Wedbush’s price objective would suggest a potential upside of 52.22% from the stock’s current price.

A number of other research firms also recently weighed in on BPMC. Needham & Company LLC restated a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a research note on Wednesday, October 30th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. HC Wainwright restated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, October 31st. Robert W. Baird upped their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Barclays increased their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Stock Down 7.3 %

Blueprint Medicines stock opened at $88.69 on Thursday. The stock has a market capitalization of $5.63 billion, a PE ratio of -42.03 and a beta of 0.59. Blueprint Medicines has a twelve month low of $62.56 and a twelve month high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $89.59 and a 200-day moving average of $98.86.

Blueprint Medicines (NASDAQ:BPMC) last announced its 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 net margin of 29.48% and a negative return on equity of 112.30%. 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 company posted ($2.20) earnings per share. The firm’s revenue was up 126.5% on a year-over-year basis. On average, equities research analysts anticipate that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Blueprint Medicines during the first quarter valued at approximately $218,000. SG Americas Securities LLC grew its position in shares of Blueprint Medicines by 117.6% in the first quarter. SG Americas Securities LLC now owns 11,865 shares of the biotechnology company’s stock valued at $1,126,000 after purchasing an additional 6,412 shares during the last quarter. Swiss National Bank grew its position in shares of Blueprint Medicines by 0.4% in the first quarter. Swiss National Bank now owns 114,000 shares of the biotechnology company’s stock valued at $10,814,000 after purchasing an additional 500 shares during the last quarter. Sei Investments Co. grew its position in Blueprint Medicines by 36.6% during the first quarter. Sei Investments Co. now owns 45,913 shares of the biotechnology company’s stock worth $4,355,000 after buying an additional 12,311 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares in 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.