Blueprint Medicines (NASDAQ:BPMC) Earns Market Perform Rating from JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Tuesday morning,Benzinga reports.

BPMC has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, May 2nd. Scotiabank cut shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating and set a $135.00 price target on the stock. in a report on Monday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $129.00 price target (down previously from $130.00) on shares of Blueprint Medicines in a report on Monday. Stephens reiterated an “equal weight” rating and issued a $135.00 target price (down from $150.00) on shares of Blueprint Medicines in a research report on Tuesday. Finally, Wedbush reiterated a “neutral” rating and issued a $129.00 target price (up from $128.00) on shares of Blueprint Medicines in a research report on Monday. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.38.

Blueprint Medicines Trading Down 0.1%

Blueprint Medicines stock opened at $127.60 on Tuesday. The stock has a market cap of $8.24 billion, a P/E ratio of -118.15 and a beta of 0.83. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $128.15. The firm’s fifty day moving average price is $93.17 and its 200-day moving average price is $95.16. 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 (NASDAQ:BPMC) last released 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). The firm had revenue of $149.41 million during 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 company’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 EPS. Equities research analysts forecast that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the sale, the director now owns 146,630 shares of the company’s stock, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,574 shares of company stock worth $1,465,528 over the last three months. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in shares of Blueprint Medicines by 6.2% during the first quarter. Rhumbline Advisers now owns 91,933 shares of the biotechnology company’s stock worth $8,137,000 after purchasing an additional 5,402 shares during the period. Strs Ohio purchased a new stake in shares of Blueprint Medicines during the first quarter worth about $593,000. Intech Investment Management LLC boosted its holdings in shares of Blueprint Medicines by 26.7% during the first quarter. Intech Investment Management LLC now owns 40,014 shares of the biotechnology company’s stock worth $3,542,000 after purchasing an additional 8,443 shares during the period. SCS Capital Management LLC purchased a new stake in shares of Blueprint Medicines during the first quarter worth about $1,342,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Blueprint Medicines by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,411 shares of the biotechnology company’s stock worth $21,633,000 after purchasing an additional 4,465 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.