Blueprint Medicines (NASDAQ:BPMC) Coverage Initiated at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) in a research report sent to investors on Thursday, MarketBeat reports. The brokerage issued an overweight rating and a $126.00 price objective on the biotechnology company's stock.

Several other research analysts also recently commented on the company. Wells Fargo & Company decreased their price objective on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Guggenheim boosted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Barclays raised their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. Robert W. Baird upped their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Baird R W raised shares of Blueprint Medicines to a "strong-buy" rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $122.00.

Blueprint Medicines Price Performance

Shares of BPMC traded down $1.23 during midday trading on Thursday, reaching $95.65. The stock had a trading volume of 471,836 shares, compared to its average volume of 691,540. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of -45.33 and a beta of 0.59. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 12-month low of $62.56 and a 12-month high of $121.90. The company's 50-day moving average is $89.55 and its 200 day moving average is $98.89.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business's quarterly revenue was up 126.5% on a year-over-year basis. During the same period in the previous year, the business posted ($2.20) EPS. On average, equities analysts predict that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines 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 completion of the transaction, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently modified their holdings of BPMC. Triad Wealth Partners LLC bought a new stake in Blueprint Medicines during the 2nd quarter valued at about $27,000. Covestor Ltd raised its holdings in Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 291 shares during the last quarter. Headlands Technologies LLC lifted its position in Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 342 shares in the last quarter. Natixis purchased a new stake in Blueprint Medicines during the 1st quarter valued at $73,000. Finally, CWM LLC increased its holdings in shares of Blueprint Medicines by 114.6% in the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock worth $119,000 after purchasing an additional 590 shares in the last quarter.

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.