Blueprint Medicines (NASDAQ:BPMC) Upgraded by StockNews.com to “Hold” Rating

Blueprint Medicines (NASDAQ:BPMC) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also weighed in on BPMC. Stephens restated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Piper Sandler boosted their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Wedbush restated an “outperform” rating and set a $128.00 price objective (up previously from $124.00) on shares of Blueprint Medicines in a research report on Thursday, February 13th. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $92.25 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines has a 52 week low of $80.42 and a 52 week high of $121.90. The stock has a market capitalization of $5.90 billion, a P/E ratio of -85.42 and a beta of 0.62. The stock has a fifty day moving average of $99.55 and a 200-day moving average of $94.43.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In related news, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the sale, the chief executive officer now owns 150,824 shares in the company, valued at $14,569,598.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey W. Albers sold 15,161 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total value of $1,660,584.33. Following the sale, the director now owns 152,396 shares in the company, valued at approximately $16,691,933.88. The trade was a 9.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,851 shares of company stock worth $4,984,696. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Blueprint Medicines during the 3rd quarter valued at about $32,000. R Squared Ltd acquired a new position in Blueprint Medicines during the 4th quarter worth approximately $51,000. Covestor Ltd raised its stake in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after buying an additional 403 shares during the period. Headlands Technologies LLC acquired a new position in Blueprint Medicines during the 4th quarter worth approximately $65,000. Finally, Thematics Asset Management acquired a new position in Blueprint Medicines during the 4th quarter worth approximately $72,000.

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.