Blueprint Medicines (NASDAQ:BPMC) Stock Rating Reaffirmed by HC Wainwright

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They currently have a $125.00 price target on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 34.41% from the company’s current price.

Several other equities research analysts have also issued reports on BPMC. Citigroup raised their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a report on Friday, February 16th. JMP Securities restated a “market outperform” rating and issued a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Wedbush restated an “outperform” rating and issued a $97.00 target price on shares of Blueprint Medicines in a report on Monday, February 5th. Stifel Nicolaus lifted their price objective on shares of Blueprint Medicines from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Finally, Barclays lifted their price objective on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.57.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC opened at $93.00 on Friday. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $101.00. The stock has a market capitalization of $5.69 billion, a P/E ratio of -11.12 and a beta of 0.63. The firm has a fifty day simple moving average of $90.79 and a two-hundred day simple moving average of $79.00. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60.

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

Insider Activity

In other news, EVP Tracey L. Mccain sold 5,194 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $471,043.86. Following the completion of the sale, the executive vice president now owns 60,498 shares in the company, valued at approximately $5,486,563.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Tracey L. Mccain sold 5,194 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $471,043.86. Following the completion of the sale, the executive vice president now owns 60,498 shares in the company, valued at approximately $5,486,563.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now directly owns 24,495 shares in the company, valued at approximately $2,449,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,289 shares of company stock worth $8,314,163. 3.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Peregrine Capital Management LLC grew its position in shares of Blueprint Medicines by 2.0% in the 1st quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company’s stock worth $8,877,000 after buying an additional 1,810 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Blueprint Medicines by 8.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,929 shares of the biotechnology company’s stock worth $3,503,000 after buying an additional 2,884 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Blueprint Medicines in the 1st quarter worth approximately $218,000. Diversified Trust Co grew its position in shares of Blueprint Medicines by 3.6% in the 1st quarter. Diversified Trust Co now owns 14,472 shares of the biotechnology company’s stock worth $1,373,000 after buying an additional 498 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Blueprint Medicines in the 4th quarter worth approximately $9,768,000.

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.