Blueprint Medicines’ (BPMC) “Outperform” Rating Reiterated at Wedbush

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $110.00 price objective on the biotechnology company’s stock. Wedbush’s price target suggests a potential upside of 18.08% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Barclays increased their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. HC Wainwright reissued a “buy” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price target on shares of Blueprint Medicines in a report on Friday. JMP Securities reissued a “market outperform” rating and issued a $114.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 10th. Finally, Citigroup increased their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.21.

Blueprint Medicines Price Performance

NASDAQ BPMC traded up $2.43 on Friday, hitting $93.16. The stock had a trading volume of 147,905 shares, compared to its average volume of 756,517. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $101.00. 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 company has a market capitalization of $5.70 billion, a price-to-earnings ratio of -11.20 and a beta of 0.63. The firm has a 50-day moving average of $90.73 and a 200-day moving average of $78.51.

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, topping the consensus estimate of ($2.04) by $0.22. The business had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.65) EPS. Equities analysts expect that Blueprint Medicines will post -5.41 EPS for the current year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the transaction, the director now owns 176,050 shares in the company, valued at approximately $15,365,644. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Blueprint Medicines news, EVP Tracey L. Mccain sold 5,194 shares of Blueprint Medicines stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $471,043.86. Following the completion of the sale, the executive vice president now directly owns 60,498 shares in the company, valued at $5,486,563.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the sale, the director now owns 176,050 shares of the company’s stock, valued at $15,365,644. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock worth $8,314,163 in the last quarter. Corporate insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Blueprint Medicines by 0.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after buying an additional 145 shares during the period. Van ECK Associates Corp boosted its position in shares of Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Blueprint Medicines by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after buying an additional 247 shares in the last quarter. Diversified Trust Co boosted its position in shares of Blueprint Medicines by 2.9% in the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after buying an additional 318 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Blueprint Medicines by 63.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after buying an additional 329 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.