Blueprint Medicines (NASDAQ:BPMC) Coverage Initiated at Scotiabank

Scotiabank initiated coverage on shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) in a report published on Friday, MarketBeat reports. The brokerage issued a sector outperform rating and a $150.00 price target on the biotechnology company's stock.

A number of other brokerages also recently weighed in on BPMC. StockNews.com downgraded shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a report on Monday, March 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $133.00 price objective on shares of Blueprint Medicines in a research note on Thursday, February 13th. Wedbush reaffirmed an "outperform" rating and set a $128.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 28th. Piper Sandler upped their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Blueprint Medicines presently has an average rating of "Moderate Buy" and a consensus target price of $125.21.

Remove Ads

Blueprint Medicines Price Performance

NASDAQ BPMC traded down $1.42 on Friday, reaching $87.12. The company's stock had a trading volume of 908,608 shares, compared to its average volume of 1,021,582. Blueprint Medicines has a twelve month low of $80.68 and a twelve month high of $121.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The stock has a market cap of $5.57 billion, a PE ratio of -80.67 and a beta of 0.62. The firm's 50 day moving average is $99.38 and its two-hundred day moving average is $94.22.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. As a group, sell-side analysts predict that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Transactions at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,161 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the sale, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the sale, the insider now owns 14,967 shares in the company, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,427 shares of company stock valued at $4,837,801 over the last three months. 4.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Blueprint Medicines by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock worth $590,905,000 after acquiring an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Blueprint Medicines by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock valued at $495,331,000 after buying an additional 291,822 shares during the last quarter. Wellington Management Group LLP increased its stake in Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after buying an additional 316,754 shares during the last quarter. State Street Corp increased its stake in Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock valued at $255,827,000 after buying an additional 385,818 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock valued at $169,616,000 after buying an additional 269,896 shares during 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.