Blueprint Medicines' (BPMC) "Market Outperform" Rating Reiterated at JMP Securities

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "market outperform" rating reissued by stock analysts at JMP Securities in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $125.00 price objective on the biotechnology company's stock. JMP Securities' price objective would indicate a potential upside of 35.16% from the company's previous close.

Several other analysts have also recently commented on BPMC. Piper Sandler lifted their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a report on Monday, January 27th. StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, November 8th. UBS Group began coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a "neutral" rating and a $88.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday. Finally, Wells Fargo & Company dropped their price objective on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $123.83.

Blueprint Medicines Trading Down 1.6 %

NASDAQ BPMC traded down $1.46 during mid-day trading on Friday, reaching $92.48. 1,266,347 shares of the stock were exchanged, compared to its average volume of 1,051,476. The stock has a market capitalization of $5.88 billion, a PE ratio of -43.83 and a beta of 0.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines has a 1-year low of $80.42 and a 1-year high of $121.90. The business's fifty day simple moving average is $99.54 and its 200 day simple moving average is $94.40.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. On average, research analysts anticipate that Blueprint Medicines will post -3.63 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, CEO Kate Haviland sold 2,353 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 150,824 shares of the company's stock, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines 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 in the company, valued at $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,851 shares of company stock valued at $4,984,696. Corporate insiders own 4.21% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Empirical Asset Management LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter worth about $2,348,000. Massachusetts Financial Services Co. MA grew its stake in Blueprint Medicines by 48.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company's stock worth $23,332,000 after purchasing an additional 82,693 shares in the last quarter. Stephens Inc. AR bought a new stake in Blueprint Medicines in the fourth quarter valued at about $321,000. Entropy Technologies LP acquired a new stake in Blueprint Medicines during the third quarter valued at approximately $999,000. Finally, KBC Group NV lifted its holdings in Blueprint Medicines by 63.9% during the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock worth $229,000 after buying an additional 1,023 shares during 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.