Blueprint Medicines (NASDAQ:BPMC) Rating Increased to Hold at StockNews.com

Blueprint Medicines (NASDAQ:BPMC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

BPMC has been the topic of several other reports. JPMorgan Chase & Co. increased their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Scotiabank began coverage on Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price for the company. Wolfe Research assumed coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They set an “outperform” rating for the company. Needham & Company LLC decreased their price objective on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.22.

Blueprint Medicines Stock Up 5.4 %

BPMC opened at $104.64 on Friday. The company has a fifty day moving average of $87.69 and a two-hundred day moving average of $93.33. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $121.90. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of -96.89 and a beta of 0.83.

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

Insider Buying and Selling at Blueprint Medicines

In other 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 value of $216,075.48. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares of the company’s stock, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avoro Capital Advisors LLC purchased a new position in shares of Blueprint Medicines in the fourth quarter valued at approximately $103,356,000. Norges Bank acquired a new position in shares of Blueprint Medicines in the fourth quarter worth $62,028,000. Jennison Associates LLC acquired a new position in shares of Blueprint Medicines in the fourth quarter worth $31,417,000. Rock Springs Capital Management LP increased its position in shares of Blueprint Medicines by 42.7% during the fourth quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company’s stock worth $95,672,000 after acquiring an additional 328,123 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after acquiring an additional 316,754 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.