HC Wainwright Reiterates Buy Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company's stock. HC Wainwright's price target points to a potential upside of 52.22% from the stock's current price.

BPMC has been the subject of a number of other research reports. StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Barclays raised their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, July 29th. Wedbush reiterated an "outperform" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a report on Thursday. They set an "overweight" rating and a $126.00 price target for the company. Finally, Baird R W upgraded shares of Blueprint Medicines to a "strong-buy" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.11.

Blueprint Medicines Stock Performance

NASDAQ BPMC traded down $6.96 on Friday, hitting $88.69. 999,989 shares of the stock were exchanged, compared to its average volume of 692,930. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The business's fifty day moving average is $89.55 and its 200 day moving average is $98.89. Blueprint Medicines has a 52 week low of $62.56 and a 52 week high of $121.90. The company has a market capitalization of $5.63 billion, a PE ratio of -42.28 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business's revenue for the quarter was up 126.5% on a year-over-year basis. During the same period in the prior year, the company posted ($2.20) earnings per share. Research analysts anticipate that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

Insider Activity

In related news, insider Fouad Namouni sold 3,633 shares of the firm'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 sale, the insider now directly owns 69,070 shares of the company's stock, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently bought and sold shares of BPMC. Price T Rowe Associates Inc. MD lifted its position in shares of Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company's stock valued at $592,954,000 after acquiring an additional 821,868 shares in the last quarter. Millennium Management LLC lifted its position in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company's stock valued at $67,646,000 after acquiring an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Blueprint Medicines by 200,159.4% in the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company's stock valued at $54,176,000 after acquiring an additional 502,400 shares in the last quarter. State Street Corp lifted its position in shares of Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock valued at $255,827,000 after acquiring an additional 385,818 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Blueprint Medicines by 161.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company's stock valued at $45,888,000 after acquiring an additional 306,079 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.