Blueprint Medicines (NASDAQ:BPMC) Rating Increased to Market Perform at SVB Leerink

SVB Leerink upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from an underperform rating to a market perform rating in a report published on Monday, Marketbeat.com reports. The firm currently has $97.00 price target on the biotechnology company’s stock, up from their previous price target of $50.00.

Other equities analysts have also issued reports about the stock. HC Wainwright boosted their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a buy rating in a report on Friday, May 3rd. Wedbush restated an outperform rating and issued a $110.00 price target on shares of Blueprint Medicines in a research note on Friday, April 26th. Barclays increased their price objective on Blueprint Medicines from $70.00 to $75.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. Needham & Company LLC reissued a buy rating and issued a $97.00 target price on shares of Blueprint Medicines in a research report on Thursday, May 2nd. Finally, JMP Securities raised their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company a market outperform rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $100.31.

Blueprint Medicines Trading Down 0.4 %

Blueprint Medicines stock opened at $108.34 on Monday. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $110.93. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of -22.52 and a beta of 0.65. The business’s fifty day simple moving average is $92.74 and its two-hundred day simple moving average is $82.19. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. Blueprint Medicines’s revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.65) EPS. As a group, equities analysts predict that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the sale, the director now owns 176,050 shares of the company’s stock, valued at $15,365,644. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Landsittel sold 10,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at $4,965,030. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,123 shares of company stock valued at $9,554,679. 3.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Blueprint Medicines by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock valued at $564,045,000 after acquiring an additional 147,827 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Blueprint Medicines by 3.2% in the third quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock worth $255,144,000 after purchasing an additional 156,807 shares during the last quarter. Rock Springs Capital Management LP lifted its position in shares of Blueprint Medicines by 22.8% in the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock worth $134,855,000 after buying an additional 498,622 shares in the last quarter. Polar Capital Holdings Plc boosted its stake in Blueprint Medicines by 108.0% during the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after buying an additional 540,000 shares during the last quarter. Finally, Avidity Partners Management LP grew its holdings in Blueprint Medicines by 81.1% during the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after buying an additional 336,600 shares in the last quarter.

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.