Blueprint Medicines (NASDAQ:BPMC) Earns “Buy” Rating from HC Wainwright

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $135.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 52.22% from the stock’s current price.

A number of other analysts also recently commented on BPMC. Robert W. Baird boosted their price objective on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a research note on Wednesday, October 30th. UBS Group initiated coverage on Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on Blueprint Medicines in a research report on Thursday. They set an “overweight” rating and a $126.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.11.

Blueprint Medicines Trading Down 7.3 %

Shares of Blueprint Medicines stock opened at $88.69 on Friday. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -42.03 and a beta of 0.59. Blueprint Medicines has a 52-week low of $62.56 and a 52-week high of $121.90. The company’s 50-day simple moving average is $89.59 and its 200-day simple moving average is $98.91. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. During the same period in the prior year, the business posted ($2.20) EPS. The company’s revenue for the quarter was up 126.5% on a year-over-year basis. As a group, equities research analysts anticipate that Blueprint Medicines will post -3.61 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.21% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in Blueprint Medicines in the second quarter valued at approximately $27,000. Covestor Ltd increased its position in shares of Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 291 shares in the last quarter. Quarry LP purchased a new position in shares of Blueprint Medicines in the 3rd quarter valued at $32,000. Headlands Technologies LLC lifted its holdings in shares of Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 342 shares in the last quarter. Finally, Natixis purchased a new stake in Blueprint Medicines during the 1st quarter worth $73,000.

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.