Blueprint Medicines' (BPMC) Outperform Rating Reaffirmed at Wedbush

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Wedbush in a research report issued to clients and investors on Thursday,RTT News reports. They presently have a $128.00 target price on the biotechnology company's stock, up from their previous target price of $124.00. Wedbush's price target would indicate a potential upside of 36.26% from the stock's current price.

BPMC has been the topic of several other reports. UBS Group started coverage on Blueprint Medicines in a research note on Thursday, October 24th. They issued a "neutral" rating and a $88.00 target price on the stock. Guggenheim restated a "buy" rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Piper Sandler boosted their target price on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Stephens reiterated an "overweight" rating and set a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, HC Wainwright reiterated a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $123.83.

Blueprint Medicines Stock Performance

Shares of BPMC traded down $1.25 during mid-day trading on Thursday, hitting $93.94. The stock had a trading volume of 1,260,678 shares, compared to its average volume of 950,529. The firm has a market cap of $5.97 billion, a P/E ratio of -44.52 and a beta of 0.62. The business has a fifty day moving average price of $99.60 and a 200-day moving average price of $94.43. 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 has a 52 week low of $77.57 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) 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%. On average, equities research analysts expect that Blueprint Medicines will post -3.63 EPS for the current year.

Insider Buying and Selling

In other news, Director Jeffrey W. Albers sold 15,000 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the completion of the transaction, the director now directly owns 157,557 shares in the company, valued at approximately $14,143,891.89. This represents a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kate Haviland sold 1,446 shares of the company's stock in a transaction dated 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 owns 149,378 shares of the company's stock, valued at $16,467,430.72. The trade was a 0.96 % 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 owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of BPMC. Quarry LP purchased a new stake in Blueprint Medicines during the 3rd quarter valued at about $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines during the 4th quarter valued at about $51,000. Covestor Ltd boosted its holdings in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock valued at $55,000 after acquiring an additional 403 shares during the period. Headlands Technologies LLC purchased a new stake in Blueprint Medicines during the 4th quarter valued at about $65,000. Finally, Thematics Asset Management purchased a new stake in Blueprint Medicines during the 4th quarter valued at about $72,000.

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.