Blueprint Medicines (NASDAQ:BPMC) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) from a hold rating to a sell rating in a research note released on Friday.

Other equities analysts have also issued research reports about the company. UBS Group started coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a "neutral" rating and a $88.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Wedbush reissued an "outperform" rating and issued a $128.00 target price (up previously from $124.00) on shares of Blueprint Medicines in a research report on Thursday, February 13th. Piper Sandler raised their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.83.

Blueprint Medicines Stock Performance

BPMC stock traded down $1.46 during midday trading on Friday, reaching $92.48. 1,266,347 shares of the company were exchanged, compared to its average volume of 1,051,476. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of -43.83 and a beta of 0.62. The business has a 50-day moving average price of $99.54 and a two-hundred day moving average price of $94.40. Blueprint Medicines has a one year low of $80.42 and a one 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.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) 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%. Equities research analysts forecast that Blueprint Medicines will post -3.63 EPS for the current year.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the transaction, the chief operating officer now owns 71,657 shares of the company's stock, valued at $6,814,580.70. This represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total value of $1,660,584.33. Following the sale, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. The trade was a 9.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,851 shares of company stock worth $4,984,696. Insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pallas Capital Advisors LLC increased its stake in shares of Blueprint Medicines by 3.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company's stock valued at $523,000 after acquiring an additional 176 shares in the last quarter. Torray Investment Partners LLC grew its holdings in Blueprint Medicines by 1.1% in the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company's stock worth $1,439,000 after purchasing an additional 186 shares during the period. Sherbrooke Park Advisers LLC increased its stake in Blueprint Medicines by 8.4% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company's stock valued at $294,000 after purchasing an additional 261 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Blueprint Medicines by 0.7% during 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 during the period. Finally, Summit Investment Advisors Inc. boosted its position in shares of Blueprint Medicines by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company's stock worth $580,000 after purchasing an additional 283 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.