Blueprint Medicines (NASDAQ:BPMC) Upgraded at SVB Leerink

Blueprint Medicines (NASDAQ:BPMC) was upgraded by equities researchers at SVB Leerink from an “underperform” rating to a “market perform” rating in a report released on Monday, Briefing.com reports. The brokerage currently has a $97.00 target price on the biotechnology company’s stock, up from their prior target price of $50.00. SVB Leerink’s price objective would indicate a potential downside of 9.51% from the stock’s previous close.

Several other brokerages have also commented on BPMC. Piper Sandler increased their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a “neutral” rating in a research report on Friday. HC Wainwright lifted their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus raised their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $97.00 price objective on shares of Blueprint Medicines in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.00.

Blueprint Medicines Stock Up 0.2 %

NASDAQ:BPMC opened at $107.19 on Monday. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $110.93. The stock has a market capitalization of $6.56 billion, a P/E ratio of -22.28 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The company’s 50-day simple moving average is $91.77 and its 200-day simple moving average is $80.95.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. The business 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%. The company’s revenue was up 85.5% compared to the same quarter last year. During the same period last year, the business earned ($2.65) EPS. On average, equities analysts anticipate that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, CEO Kate Haviland sold 12,464 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the completion of the transaction, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at $13,891,622.13. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the completion of the sale, the chief financial officer now owns 47,286 shares in the company, valued at $4,492,170. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kate Haviland sold 12,464 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $1,130,360.16. Following the completion of the sale, the chief executive officer now owns 153,177 shares of the company’s stock, valued at approximately $13,891,622.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Blueprint Medicines by 0.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after buying an additional 145 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Blueprint Medicines by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 193 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after purchasing an additional 247 shares during the last quarter. Diversified Trust Co raised its stake in shares of Blueprint Medicines by 2.9% during the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after purchasing an additional 318 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 329 shares during 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.