Blueprint Medicines (NASDAQ:BPMC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note published on Thursday morning, Benzinga reports. They currently have a $97.00 price objective on the biotechnology company’s stock.

A number of other research firms also recently issued reports on BPMC. JMP Securities reissued a market outperform rating and set a $114.00 price target on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Stifel Nicolaus boosted their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a research note on Friday, April 26th. Citigroup increased their target price on Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a research note on Friday, February 16th. HC Wainwright reissued a buy rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, April 26th. Finally, Wedbush reaffirmed an outperform rating and issued a $110.00 price objective on shares of Blueprint Medicines in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $94.87.

Blueprint Medicines Trading Up 0.2 %

Shares of BPMC opened at $107.19 on Thursday. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $110.93. The stock has a fifty day moving average of $91.77 and a two-hundred day moving average of $80.52. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. The company has a market capitalization of $6.56 billion, a PE ratio of -12.82 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. The firm had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.65) earnings per share. As a group, analysts forecast that Blueprint Medicines will post -5.41 EPS for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now directly owns 36,374 shares in the company, valued at $3,406,425.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $15,365,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the sale, the insider now owns 36,374 shares in the company, valued at approximately $3,406,425.10. The disclosure for this sale can be found here. Insiders sold a total of 92,289 shares of company stock valued at $8,314,163 in the last quarter. Insiders own 3.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Blueprint Medicines by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock valued at $564,045,000 after buying an additional 147,827 shares during the period. Wellington Management Group LLP lifted its position in 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 period. Rock Springs Capital Management LP boosted its stake in Blueprint Medicines by 22.8% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after purchasing 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 in the last quarter. Finally, Avidity Partners Management LP raised its position in Blueprint Medicines by 81.1% in the third quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after acquiring an additional 336,600 shares in 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.