Blueprint Medicines (NASDAQ:BPMC) Earns Outperform Rating from Analysts at Wolfe Research

Equities research analysts at Wolfe Research assumed coverage on shares of Blueprint Medicines (NASDAQ:BPMC - Get Free Report) in a report released on Tuesday, Marketbeat reports. The firm set an "outperform" rating on the biotechnology company's stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research note on Monday, March 3rd. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They set a "buy" rating and a $135.00 price objective for the company. Scotiabank began coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, Guggenheim reissued a "buy" rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines presently has an average rating of "Moderate Buy" and a consensus price target of $124.95.

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Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded up $0.25 on Tuesday, hitting $88.72. 1,840,670 shares of the company were exchanged, compared to its average volume of 708,936. Blueprint Medicines has a 1-year low of $80.68 and a 1-year high of $121.90. The stock's 50 day moving average price is $99.47 and its 200 day moving average price is $93.88. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $5.67 billion, a P/E ratio of -82.15 and a beta of 0.58.

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

Insider Transactions at Blueprint Medicines

In other news, insider Ariel Hurley sold 3,203 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares of the company's stock, valued at $1,692,167.40. The trade was a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Albers sold 15,161 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was 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 of the company's stock, valued at $16,691,933.88. This represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,334 shares of company stock valued at $3,103,512 over the last 90 days. Corporate insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in shares of Blueprint Medicines by 4.9% during the fourth quarter. California State Teachers Retirement System now owns 59,259 shares of the biotechnology company's stock worth $5,169,000 after purchasing an additional 2,742 shares in the last quarter. Mackenzie Financial Corp boosted its position in Blueprint Medicines by 99.6% during the fourth quarter. Mackenzie Financial Corp now owns 14,177 shares of the biotechnology company's stock worth $1,237,000 after acquiring an additional 7,076 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Blueprint Medicines during the fourth quarter worth about $116,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Blueprint Medicines by 5.3% during the fourth 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 last quarter. Finally, Woodline Partners LP boosted its position in Blueprint Medicines by 19.1% during the fourth 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 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.