Blueprint Medicines (NASDAQ:BPMC) Receives New Coverage from Analysts at UBS Group

Research analysts at UBS Group began coverage on shares of Blueprint Medicines (NASDAQ:BPMC - Get Free Report) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage set a "neutral" rating and a $88.00 price target on the biotechnology company's stock. UBS Group's price target would suggest a potential upside of 5.91% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. Baird R W raised Blueprint Medicines to a "strong-buy" rating in a report on Friday, August 2nd. Morgan Stanley upped their target price on Blueprint Medicines from $110.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Friday, July 12th. Needham & Company LLC reissued a "buy" rating and issued a $130.00 price target on shares of Blueprint Medicines in a research note on Thursday, August 1st. Oppenheimer upped their price objective on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an "outperform" rating in a research report on Monday, July 8th. Finally, Guggenheim lifted their target price 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.22.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded down $1.31 during trading on Thursday, hitting $83.09. 679,643 shares of the stock traded hands, compared to its average volume of 687,654. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average price of $90.02 and a two-hundred day moving average price of $98.66. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $121.90. The company has a market cap of $5.20 billion, a price-to-earnings ratio of -16.99 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, beating analysts' consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The company had revenue of $138.20 million during the quarter, compared to analysts' expectations of $104.02 million. During the same quarter in the previous year, the company earned ($2.19) earnings per share. The firm's revenue for the quarter was up 139.9% on a year-over-year basis. As a group, equities analysts predict that Blueprint Medicines will post -3.99 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Philina Lee sold 41,913 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. This trade represents 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. Also, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently modified their holdings of BPMC. Triad Wealth Partners LLC acquired a new position in Blueprint Medicines in the second quarter valued at about $27,000. Covestor Ltd boosted its position in shares of Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 291 shares during the period. Headlands Technologies LLC increased its holdings 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 purchasing an additional 342 shares during the last quarter. Natixis acquired a new position in Blueprint Medicines during the first quarter worth $73,000. Finally, CWM LLC boosted its position in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock worth $119,000 after buying an additional 590 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.