Blueprint Medicines Co. (NASDAQ:BPMC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $126.56.

Several equities research analysts have commented on the stock. Piper Sandler raised their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Jefferies Financial Group assumed coverage on Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 price target for the company. Needham & Company LLC decreased their price target on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, April 28th. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They set an “equal weight” rating and a $100.00 target price on the stock.

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares of the company’s stock, valued at approximately $6,581,655.32. The trade was a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares in the company, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,503 shares of company stock worth $1,027,931. 4.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BPMC. Franklin Resources Inc. increased its stake in shares of Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after purchasing an additional 265 shares during the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Blueprint Medicines in the fourth quarter worth about $2,348,000. SG Americas Securities LLC boosted its stake in shares of Blueprint Medicines by 69.7% during the 4th quarter. SG Americas Securities LLC now owns 4,277 shares of the biotechnology company’s stock worth $373,000 after acquiring an additional 1,756 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Blueprint Medicines by 207.5% during the 4th quarter. Fifth Third Bancorp now owns 3,075 shares of the biotechnology company’s stock valued at $268,000 after acquiring an additional 2,075 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Blueprint Medicines by 63.9% in the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 1,023 shares in the last quarter.

Blueprint Medicines Trading Down 1.0 %

NASDAQ:BPMC opened at $97.74 on Friday. The firm has a market capitalization of $6.31 billion, a P/E ratio of -90.50 and a beta of 0.83. The business has a 50 day simple moving average of $88.49 and a 200 day simple moving average of $93.74. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines has a 12-month low of $73.04 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The firm had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The firm’s revenue was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 EPS. Equities research analysts predict that Blueprint Medicines will post -1.28 EPS for the current year.

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.