Blueprint Medicines’ (BPMC) “Buy” Rating Reaffirmed at HC Wainwright

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HC Wainwright restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report issued on Thursday morning, AnalystRatings.com reports. They currently have a $100.00 price target on the biotechnology company’s stock.

A number of other brokerages have also weighed in on BPMC. Morgan Stanley lowered their target price on Blueprint Medicines from $110.00 to $109.00 and set an overweight rating on the stock in a research report on Friday, October 11th. Canaccord Genuity upped their target price on Blueprint Medicines from $105.00 to $120.00 and gave the stock a buy rating in a research report on Friday, August 2nd. BidaskClub raised Blueprint Medicines from a strong sell rating to a sell rating in a research report on Tuesday, October 22nd. Robert W. Baird started coverage on Blueprint Medicines in a research report on Thursday, July 18th. They set an outperform rating and a $120.00 target price on the stock. Finally, ValuEngine lowered Blueprint Medicines from a strong-buy rating to a buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $104.36.

Shares of NASDAQ:BPMC traded up $0.13 during midday trading on Thursday, hitting $73.26. 298,000 shares of the stock were exchanged, compared to its average volume of 459,958. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52. Blueprint Medicines has a 12 month low of $44.58 and a 12 month high of $102.98. The business’s 50-day moving average price is $73.99 and its 200 day moving average price is $82.91. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.59 and a beta of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.19) by $0.26. Blueprint Medicines had a negative return on equity of 80.02% and a negative net margin of 2,258.84%. The company had revenue of $9.14 million for the quarter, compared to analyst estimates of $2.85 million. During the same period in the prior year, the firm earned ($1.66) earnings per share. Blueprint Medicines’s revenue for the quarter was up 734.6% on a year-over-year basis. As a group, sell-side analysts expect that Blueprint Medicines will post -8.22 EPS for the current year.

In related news, insider Ariel Hurley sold 415 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $84.02, for a total value of $34,868.30. Following the completion of the sale, the insider now directly owns 415 shares of the company’s stock, valued at approximately $34,868.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lonnel Coats sold 10,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $82.40, for a total value of $824,000.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $824,000. The disclosure for this sale can be found here. Insiders sold a total of 41,340 shares of company stock valued at $3,365,796 over the last three months. 4.02% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Rockefeller Capital Management L.P. grew its stake in Blueprint Medicines by 4,594.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 798 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 781 shares during the period. Whittier Trust Co. bought a new position in Blueprint Medicines in the 2nd quarter valued at $97,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Blueprint Medicines by 62.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 423 shares during the period. Trexquant Investment LP bought a new position in Blueprint Medicines in the 2nd quarter valued at $203,000. Finally, Flinton Capital Management LLC bought a new position in Blueprint Medicines in the 2nd quarter valued at $211,000. 99.39% of the stock is owned by institutional investors and hedge funds.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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