Blueprint Medicines (NASDAQ:BPMC) Receives Overweight Rating from Stephens

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "overweight" rating reaffirmed by investment analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $140.00 price objective on the biotechnology company's stock. Stephens' target price indicates a potential upside of 60.55% from the company's current price.

Several other brokerages have also recently issued reports on BPMC. StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Guggenheim reiterated a "buy" rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. HC Wainwright restated a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Wells Fargo & Company cut their price target on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Finally, JMP Securities restated a "market outperform" rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.33.

Blueprint Medicines Stock Down 0.0 %

BPMC traded down $0.02 during trading on Thursday, hitting $87.20. The company had a trading volume of 329,706 shares, compared to its average volume of 683,720. Blueprint Medicines has a 1-year low of $72.24 and a 1-year high of $121.90. 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 company has a market cap of $5.54 billion, a PE ratio of -41.33 and a beta of 0.59. The business has a 50-day moving average of $92.84 and a 200-day moving average of $96.20.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same quarter in the prior year, the business posted ($2.20) EPS. The company's revenue for the quarter was up 126.5% on a year-over-year basis. As a group, analysts forecast that Blueprint Medicines will post -3.68 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction 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 transaction, the chief operating officer now directly owns 71,657 shares of the company's stock, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ariel Hurley sold 1,819 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,720 shares of company stock worth $2,177,846. 4.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several large investors have recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth $32,000. Covestor Ltd lifted its holdings in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 403 shares during the last quarter. Van ECK Associates Corp boosted its position in Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after purchasing an additional 131 shares during the period. Quantbot Technologies LP bought a new position in shares of Blueprint Medicines in the third quarter valued at approximately $108,000. Finally, Values First Advisors Inc. acquired a new stake in shares of Blueprint Medicines in the third quarter worth $122,000.

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.