Blueprint Medicines (NASDAQ:BPMC) Earns "Buy" Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $135.00 target price on the biotechnology company's stock.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company cut their target price on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Wedbush reaffirmed an "outperform" rating and set a $128.00 price target (up previously from $124.00) on shares of Blueprint Medicines in a research report on Thursday, February 13th. Guggenheim reaffirmed a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Wednesday, January 15th. Finally, StockNews.com raised Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of "Moderate Buy" and an average target price of $123.83.

Blueprint Medicines Trading Down 1.6 %

NASDAQ:BPMC traded down $1.46 during mid-day trading on Friday, hitting $92.48. The company had a trading volume of 1,266,347 shares, compared to its average volume of 1,051,476. Blueprint Medicines has a fifty-two week low of $80.42 and a fifty-two week high of $121.90. The business's fifty day moving average is $99.54 and its two-hundred day moving average is $94.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The firm has a market cap of $5.88 billion, a P/E ratio of -43.83 and a beta of 0.62.

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

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ariel Hurley sold 1,819 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the transaction, the insider now owns 14,967 shares of the company's stock, valued at approximately $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. Insiders sold a total of 49,851 shares of company stock worth $4,984,696 over the last ninety days. 4.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Blueprint Medicines by 5.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,946 shares of the biotechnology company's stock worth $20,928,000 after acquiring an additional 12,035 shares during the period. Woodline Partners LP boosted its stake in shares of Blueprint Medicines by 19.1% during the 4th quarter. Woodline Partners LP now owns 540,192 shares of the biotechnology company's stock worth $47,116,000 after acquiring an additional 86,614 shares during the period. Zimmer Partners LP boosted its stake in shares of Blueprint Medicines by 59.5% during the 4th quarter. Zimmer Partners LP now owns 33,650 shares of the biotechnology company's stock worth $2,935,000 after acquiring an additional 12,550 shares during the period. Tema Etfs LLC bought a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $1,960,000. Finally, Sherbrooke Park Advisers LLC boosted its stake in shares of Blueprint Medicines by 8.4% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company's stock worth $294,000 after acquiring an additional 261 shares during the period.

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.