Blueprint Medicines' (BPMC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $133.00 price target on the biotechnology company's stock.

A number of other research firms also recently commented on BPMC. Wells Fargo & Company dropped their price target on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. StockNews.com raised Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Guggenheim reaffirmed a "buy" rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Wednesday, January 15th. Finally, Stephens reaffirmed an "overweight" rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.83.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock traded down $1.25 during trading on Thursday, reaching $93.94. The company's stock had a trading volume of 1,260,678 shares, compared to its average volume of 950,529. The business's 50-day moving average price is $99.61 and its 200-day moving average price is $94.48. The firm has a market cap of $5.97 billion, a PE ratio of -44.52 and a beta of 0.62. Blueprint Medicines has a 52 week low of $77.57 and a 52 week 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.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Equities analysts forecast that Blueprint Medicines will post -3.63 earnings per share for the current year.

Insider Activity

In related news, insider Ariel Hurley sold 1,819 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the sale, the insider now directly owns 14,967 shares in the company, valued at $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now owns 71,657 shares in the company, valued at $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,851 shares of company stock valued at $4,984,696 over the last quarter. 4.21% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $32,000. R Squared Ltd bought a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $51,000. Covestor Ltd boosted its holdings in shares of Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after buying an additional 403 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $65,000. Finally, Thematics Asset Management bought a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $72,000.

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.