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

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $133.00 target price on the biotechnology company's stock. Needham & Company LLC's target price points to a potential upside of 64.52% from the stock's previous close.

Several other brokerages also recently issued reports on BPMC. Wedbush reaffirmed an "outperform" rating and set a $128.00 price target on shares of Blueprint Medicines in a report on Friday, February 28th. Wolfe Research assumed coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They set an "outperform" rating for the company. Scotiabank started coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 price target on the stock. Guggenheim restated a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Finally, HC Wainwright restated a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $124.95.

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Blueprint Medicines Stock Up 0.7 %

Shares of NASDAQ:BPMC traded up $0.57 during midday trading on Tuesday, hitting $80.84. The stock had a trading volume of 1,646,653 shares, compared to its average volume of 763,520. The company has a market cap of $5.17 billion, a P/E ratio of -74.85 and a beta of 0.75. The business's 50-day simple moving average is $90.91 and its 200-day simple moving average is $93.51. Blueprint Medicines has a 12 month low of $73.04 and a 12 month high of $121.90. 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 (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates 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%. On average, sell-side analysts forecast that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kate Haviland sold 1,446 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This represents a 0.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ariel Hurley sold 2,250 shares of the stock in a transaction on Monday, January 13th. The shares were 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 $1,496,700. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,608 shares of company stock worth $3,319,587 in the last ninety days. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empirical Asset Management LLC bought a new position in shares of Blueprint Medicines during the fourth quarter worth about $2,348,000. Stephens Inc. AR acquired a new stake in Blueprint Medicines during the 4th quarter valued at approximately $321,000. Bank of New York Mellon Corp raised its holdings in Blueprint Medicines by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock worth $26,465,000 after purchasing an additional 7,101 shares during the last quarter. KBC Group NV lifted its position in shares of Blueprint Medicines by 63.9% in the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock worth $229,000 after purchasing an additional 1,023 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at $21,104,000.

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.