Blueprint Medicines (NASDAQ:BPMC) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report report published on Thursday,RTT News reports. The firm currently has a $135.00 target price on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. Guggenheim raised their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a research report on Wednesday, October 30th. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird boosted their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC traded down $4.98 during trading on Thursday, reaching $90.67. The company had a trading volume of 434,871 shares, compared to its average volume of 690,384. The firm’s fifty day moving average is $89.55 and its 200 day moving average is $98.89. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The firm has a market capitalization of $5.76 billion, a PE ratio of -44.81 and a beta of 0.59. Blueprint Medicines has a twelve month low of $62.56 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. During the same period last year, the firm earned ($2.20) EPS. The firm’s revenue for the quarter was up 126.5% on a year-over-year basis. On average, equities analysts forecast that Blueprint Medicines will post -3.61 EPS for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several large investors have recently made changes to their positions in BPMC. Hsbc Holdings PLC acquired a new stake in Blueprint Medicines in the 2nd quarter worth approximately $1,060,000. Comerica Bank lifted its stake in shares of Blueprint Medicines by 2,582.9% in the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after buying an additional 10,435 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after buying an additional 13,579 shares during the period. SG Americas Securities LLC grew its stake in Blueprint Medicines by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock valued at $2,337,000 after buying an additional 9,819 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after acquiring an additional 195,007 shares during the period.

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.