Blueprint Medicines’ (BPMC) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $97.00 price objective on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on BPMC. Stifel Nicolaus increased their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a research note on Friday, April 26th. Barclays increased their price objective on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an equal weight rating in a research note on Tuesday, February 13th. HC Wainwright reissued a buy rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. JMP Securities reissued a market outperform rating and issued a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Finally, Wedbush reissued an outperform rating and issued a $110.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $94.87.

Blueprint Medicines Price Performance

BPMC opened at $107.19 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. The stock has a market capitalization of $6.56 billion, a P/E ratio of -22.28 and a beta of 0.65. The company’s 50-day simple moving average is $91.77 and its two-hundred day simple moving average is $80.73. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 215.07%. The business had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. During the same quarter in the prior year, the business earned ($2.65) EPS. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. As a group, analysts predict that Blueprint Medicines will post -5.38 EPS for the current year.

Insider Activity at Blueprint Medicines

In related news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 24,495 shares in the company, valued at $2,449,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 24,495 shares of the company’s stock, valued at $2,449,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is owned by corporate insiders.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently bought and sold shares of BPMC. Norges Bank purchased a new stake in shares of Blueprint Medicines during the fourth quarter valued at $55,893,000. Polar Capital Holdings Plc boosted its stake in shares of Blueprint Medicines by 108.0% during the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after purchasing an additional 540,000 shares during the period. Rock Springs Capital Management LP boosted its stake in shares of Blueprint Medicines by 22.8% during the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after purchasing an additional 498,622 shares during the period. Avidity Partners Management LP boosted its stake in shares of Blueprint Medicines by 81.1% during the third quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after purchasing an additional 336,600 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Blueprint Medicines by 2,788.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock valued at $24,873,000 after purchasing an additional 260,321 shares during the period.

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.