JMP Securities Reaffirms Market Outperform Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "market outperform" rating reiterated by analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $125.00 price target on the biotechnology company's stock. JMP Securities' price target would indicate a potential upside of 38.61% from the stock's current price.

Several other equities analysts also recently issued reports on the company. Baird R W raised Blueprint Medicines to a "strong-buy" rating in a research report on Friday, August 2nd. Guggenheim raised their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Robert W. Baird upped their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. UBS Group assumed coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a "neutral" rating and a $88.00 price target for the company. Finally, Barclays lifted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an "equal weight" rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.11.

Blueprint Medicines Trading Up 1.7 %

NASDAQ BPMC traded up $1.49 during trading hours on Monday, hitting $90.18. 628,448 shares of the company were exchanged, compared to its average volume of 692,643. The stock has a market cap of $5.73 billion, a PE ratio of -42.74 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. The stock has a 50-day moving average price of $89.67 and a 200 day moving average price of $98.82. Blueprint Medicines has a 52 week low of $63.50 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $127.56 million. During the same period in the prior year, the business posted ($2.20) earnings per share. The business's revenue for the quarter was up 126.5% on a year-over-year basis. Analysts forecast that Blueprint Medicines will post -3.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its position in shares of Blueprint Medicines by 23.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company's stock worth $1,528,000 after buying an additional 3,162 shares during the period. Geode Capital Management LLC boosted its position in Blueprint Medicines by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company's stock valued at $136,942,000 after buying an additional 20,703 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Blueprint Medicines by 13.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 22,557 shares of the biotechnology company's stock valued at $2,087,000 after purchasing an additional 2,741 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Blueprint Medicines by 27.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,662 shares of the biotechnology company's stock worth $246,000 after acquiring an additional 576 shares in the last quarter. Finally, Zimmer Partners LP bought a new stake in Blueprint Medicines in the third quarter valued at about $1,952,000.

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.