Blueprint Medicines (NASDAQ:BPMC) Stock Rating Lowered by Stephens

Blueprint Medicines (NASDAQ:BPMC) was downgraded by Stephens from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $135.00 price objective on the biotechnology company’s stock, down from their previous price objective of $150.00. Stephens’ price objective would indicate a potential upside of 5.39% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Morgan Stanley initiated coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $129.00 price objective (down previously from $130.00) on shares of Blueprint Medicines in a research report on Monday. Wolfe Research initiated coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They set an “outperform” rating for the company. Needham & Company LLC downgraded shares of Blueprint Medicines from a “moderate buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research report on Monday. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Fifteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines has an average rating of “Hold” and an average target price of $125.59.

Blueprint Medicines Stock Up 0.4%

BPMC stock opened at $128.10 on Tuesday. The company has a fifty day moving average price of $93.96 and a 200 day moving average price of $95.39. Blueprint Medicines has a 12 month low of $73.04 and a 12 month high of $128.15. The company has a market cap of $8.27 billion, a price-to-earnings ratio of -118.61 and a beta of 0.83. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS 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 last year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 55.5% compared to the same quarter last year. Sell-side analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the sale, the insider now directly owns 16,944 shares of the company’s stock, valued at approximately $1,747,434.72. This represents a 13.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the 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 completion of the sale, the director now directly owns 146,630 shares in the company, 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 have sold a total of 14,574 shares of company stock valued at $1,465,528 in the last ninety days. 4.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in Blueprint Medicines by 6.2% in the 1st quarter. Rhumbline Advisers now owns 91,933 shares of the biotechnology company’s stock valued at $8,137,000 after acquiring an additional 5,402 shares during the last quarter. Strs Ohio acquired a new stake in Blueprint Medicines in the 1st quarter valued at about $593,000. Intech Investment Management LLC grew its stake in Blueprint Medicines by 26.7% in the 1st quarter. Intech Investment Management LLC now owns 40,014 shares of the biotechnology company’s stock valued at $3,542,000 after acquiring an additional 8,443 shares during the last quarter. SCS Capital Management LLC acquired a new stake in Blueprint Medicines in the 1st quarter valued at about $1,342,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Blueprint Medicines by 1.9% during the 1st 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 last quarter.

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.