Blueprint Medicines' (BPMC) "Outperform" Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) in a research note issued to investors on Monday morning, Marketbeat reports. They currently have a $124.00 target price on the biotechnology company's stock, down from their prior target price of $135.00.

BPMC has been the topic of several other reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Monday. Guggenheim reaffirmed a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. JMP Securities reissued a "market outperform" rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an "overweight" rating and a $126.00 price target 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 one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.72.

Blueprint Medicines Trading Up 18.2 %

Shares of NASDAQ BPMC traded up $15.93 during trading hours on Monday, reaching $103.36. The stock had a trading volume of 2,141,935 shares, compared to its average volume of 937,533. The business's fifty day moving average price is $93.65 and its two-hundred day moving average price is $95.33. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of -48.99 and a beta of 0.61. Blueprint Medicines has a 52-week low of $72.24 and a 52-week high of $121.90. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. During the same period in the previous year, the company posted ($2.20) earnings per share. The firm's quarterly revenue was up 126.5% on a year-over-year basis. Analysts expect that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares in the company, valued at $14,569,598.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ariel Hurley sold 1,819 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares in the company, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,720 shares of company stock worth $2,177,846. Corporate insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank boosted its position in shares of Blueprint Medicines by 5.3% during the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company's stock worth $232,000 after buying an additional 109 shares during the period. Pallas Capital Advisors LLC increased its stake in Blueprint Medicines by 3.2% during the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company's stock worth $523,000 after purchasing an additional 176 shares during the period. Clarus Wealth Advisors lifted its position in shares of Blueprint Medicines by 8.6% during the third quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company's stock worth $231,000 after purchasing an additional 206 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Blueprint Medicines by 5.2% in the second quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company's stock valued at $527,000 after purchasing an additional 243 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock valued at $3,259,000 after purchasing an additional 265 shares in the last quarter.

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.