Blueprint Medicines (NASDAQ:BPMC) Now Covered by Analysts at Wolfe Research

Stock analysts at Wolfe Research began coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating on the biotechnology company’s stock.

BPMC has been the subject of several other reports. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Scotiabank initiated coverage on shares of Blueprint Medicines in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $128.00 target price on shares of Blueprint Medicines in a report on Friday, February 28th. Piper Sandler lifted their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.70.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $92.14 on Tuesday. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines has a 52-week low of $80.68 and a 52-week high of $121.90. The company has a 50-day simple moving average of $99.59 and a 200-day simple moving average of $94.03. The company has a market capitalization of $5.89 billion, a PE ratio of -85.31 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Equities research analysts predict that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the transaction, the director now owns 157,557 shares of the company’s stock, valued at $14,143,891.89. This trade represents a 8.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $100.00, for a total value of $225,000.00. Following the completion of the transaction, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,608 shares of company stock worth $4,668,161. 4.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in Blueprint Medicines in the third quarter worth about $32,000. R Squared Ltd bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $51,000. Headlands Technologies LLC acquired a new position in Blueprint Medicines during the 4th quarter valued at approximately $65,000. Thematics Asset Management bought a new position in Blueprint Medicines during the 4th quarter worth $72,000. Finally, Covestor Ltd lifted its stake in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 375 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.