Blueprint Medicines Co. (NASDAQ:BPMC) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-one analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $122.11.

BPMC has been the subject of a number of analyst reports. Guggenheim reissued a "buy" rating on shares of Blueprint Medicines in a report on Wednesday. Wedbush restated an "outperform" rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Thursday, November 14th. Wells Fargo & Company lowered their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Needham & Company LLC reissued a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Monday.

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction 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. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the transaction, the chief executive officer now owns 150,824 shares in the company, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,260 shares of company stock worth $768,057. Company insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in shares of Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock valued at $366,726,000 after buying an additional 729,055 shares during the period. State Street Corp increased its position in Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock worth $255,827,000 after purchasing an additional 385,818 shares during the period. Geode Capital Management LLC raised its holdings in Blueprint Medicines by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company's stock worth $136,942,000 after purchasing an additional 20,703 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Blueprint Medicines by 4.2% in the 2nd quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company's stock valued at $86,519,000 after purchasing an additional 32,600 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company's stock worth $67,646,000 after buying an additional 529,566 shares during the last quarter.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock traded down $0.92 during trading on Wednesday, reaching $94.47. The company's stock had a trading volume of 540,884 shares, compared to its average volume of 684,289. The business has a 50 day moving average price of $91.85 and a 200-day moving average price of $97.62. Blueprint Medicines has a 12-month low of $72.24 and a 12-month high of $121.90. The company has a market capitalization of $6.00 billion, a P/E ratio of -44.77 and a beta of 0.59. 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 released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping 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 firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same quarter in the previous year, the firm earned ($2.20) earnings per share. The firm's revenue was up 126.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Blueprint Medicines will post -3.68 EPS for the current year.

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.