Blueprint Medicines' (BPMC) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) in a report issued on Friday morning,RTT News reports. Wedbush currently has a $128.00 target price on the biotechnology company's stock.

Several other equities research analysts have also issued reports on BPMC. JMP Securities reissued a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. HC Wainwright reaffirmed a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Guggenheim reissued a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Saturday, February 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $123.83.

Remove Ads

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded down $0.37 during midday trading on Friday, reaching $89.38. 1,385,852 shares of the company traded hands, compared to its average volume of 1,018,106. Blueprint Medicines has a 12 month low of $80.68 and a 12 month high of $121.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The business has a 50 day moving average of $99.52 and a two-hundred day moving average of $94.37. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of -82.76 and a beta of 0.62.

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 for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. As a group, research analysts predict that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares of the company's stock, valued at approximately $16,467,430.72. This trade represents a 0.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 14,967 shares of the company's stock, valued at $1,395,822.42. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,224 shares of company stock valued at $4,541,139 over the last quarter. 4.21% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Several hedge funds have recently made changes to their positions in BPMC. Allspring Global Investments Holdings LLC raised its holdings in Blueprint Medicines by 40.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,206 shares of the biotechnology company's stock worth $297,000 after purchasing an additional 927 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Blueprint Medicines by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,291 shares of the biotechnology company's stock valued at $212,000 after buying an additional 422 shares during the period. US Bancorp DE boosted its stake in shares of Blueprint Medicines by 147.6% in the third quarter. US Bancorp DE now owns 11,971 shares of the biotechnology company's stock valued at $1,107,000 after buying an additional 7,137 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in Blueprint Medicines by 3.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 288,540 shares of the biotechnology company's stock worth $26,690,000 after acquiring an additional 10,207 shares during the period. Finally, Emerald Advisers LLC raised its position in Blueprint Medicines by 10.2% in the third quarter. Emerald Advisers LLC now owns 375,866 shares of the biotechnology company's stock worth $34,768,000 after acquiring an additional 34,666 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.