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

StockNews.com upgraded shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) from a sell rating to a hold rating in a report issued on Friday.

Several other brokerages also recently commented on BPMC. Guggenheim increased their price target on Blueprint Medicines from $130.00 to $138.00 and gave the company a "buy" rating in a report on Friday, August 2nd. HC Wainwright reiterated a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, October 31st. Morgan Stanley boosted their target price on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Friday, July 12th. Barclays raised their price target on Blueprint Medicines from $75.00 to $105.00 and gave the company an "equal weight" rating in a research report on Monday, July 29th. Finally, Baird R W upgraded Blueprint Medicines to a "strong-buy" rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.39.

Blueprint Medicines Stock Down 0.6 %

Shares of BPMC stock traded down $0.56 on Friday, hitting $100.83. The company's stock had a trading volume of 625,068 shares, compared to its average volume of 696,243. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of -47.79 and a beta of 0.59. Blueprint Medicines has a fifty-two week low of $56.74 and a fifty-two week high of $121.90. The firm's fifty day moving average price is $89.21 and its 200-day moving average price is $98.74. 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 quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analysts' expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business's quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.20) earnings per share. Research analysts anticipate that Blueprint Medicines will post -3.61 EPS for the current year.

Insider Buying and Selling

In other news, insider Fouad Namouni sold 3,633 shares of the business's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares of the company's stock, valued at $6,169,332.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new stake in Blueprint Medicines during the 1st quarter worth approximately $474,000. Hsbc Holdings PLC acquired a new stake in shares of Blueprint Medicines during the second quarter worth $1,060,000. Comerica Bank raised its holdings in shares of Blueprint Medicines by 2,582.9% during the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company's stock worth $1,028,000 after acquiring an additional 10,435 shares during the period. Federated Hermes Inc. lifted its position in Blueprint Medicines by 27.8% in the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company's stock valued at $6,721,000 after acquiring an additional 13,579 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Blueprint Medicines by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company's stock worth $2,337,000 after purchasing an additional 9,819 shares during the period.

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.