Wedbush Reiterates “Outperform” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reiterated by Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $110.00 price objective on the biotechnology company’s stock. Wedbush’s target price would indicate a potential upside of 18.28% from the company’s previous close.

BPMC has been the topic of a number of other reports. Stifel Nicolaus raised their price target on Blueprint Medicines from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Needham & Company LLC reissued a “buy” rating and set a $97.00 price target on shares of Blueprint Medicines in a report on Friday. Citigroup raised their price target on Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a report on Friday, February 16th. JMP Securities reissued a “market outperform” rating and set a $114.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 10th. Finally, HC Wainwright reissued a “buy” rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Friday. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $91.57.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $93.00 on Friday. Blueprint Medicines has a 1-year low of $43.89 and a 1-year high of $101.00. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. The business’s fifty day moving average price is $90.79 and its two-hundred day moving average price is $79.00. The firm has a market capitalization of $5.69 billion, a PE ratio of -11.12 and a beta of 0.63.

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

Insider Activity at Blueprint Medicines

In related news, CEO Kate Haviland sold 12,464 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $1,130,360.16. Following the transaction, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at approximately $13,891,622.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $15,365,644. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kate Haviland sold 12,464 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $1,130,360.16. Following the completion of the transaction, the chief executive officer now directly owns 153,177 shares in the company, valued at $13,891,622.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,289 shares of company stock valued at $8,314,163. Corporate insiders own 3.88% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several institutional investors have recently modified their holdings of BPMC. SG Americas Securities LLC grew its holdings in shares of Blueprint Medicines by 1,436.4% during the 3rd quarter. SG Americas Securities LLC now owns 33,478 shares of the biotechnology company’s stock worth $1,681,000 after purchasing an additional 31,299 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in Blueprint Medicines by 2.1% in the 3rd quarter. Peregrine Capital Management LLC now owns 146,663 shares of the biotechnology company’s stock valued at $7,365,000 after buying an additional 3,074 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Blueprint Medicines by 33.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 32,484 shares of the biotechnology company’s stock valued at $1,631,000 after buying an additional 8,131 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Blueprint Medicines by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company’s stock valued at $13,396,000 after buying an additional 4,127 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in Blueprint Medicines by 0.9% in the 3rd quarter. Brown Advisory Inc. now owns 641,039 shares of the biotechnology company’s stock valued at $32,193,000 after buying an additional 5,843 shares in the last quarter.

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.