Blueprint Medicines’ (BPMC) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report released on Friday, Benzinga reports. HC Wainwright currently has a $125.00 price objective on the biotechnology company’s stock.

Several other brokerages have also issued reports on BPMC. JMP Securities reiterated a market outperform rating and issued a $114.00 price target on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Needham & Company LLC reaffirmed a buy rating and issued a $97.00 target price on shares of Blueprint Medicines in a research report on Monday, February 26th. Barclays increased their price target on Blueprint Medicines from $58.00 to $70.00 and gave the company an equal weight rating in a research report on Tuesday, February 13th. Citigroup boosted their price target on Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus increased their price objective on Blueprint Medicines from $95.00 to $97.00 and gave the company a buy rating in a report on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $91.57.

Blueprint Medicines Stock Performance

BPMC opened at $93.00 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. The business’s 50-day moving average price is $90.79 and its two-hundred day moving average price is $78.80. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same quarter in the prior year, the firm posted ($2.65) EPS. The business’s revenue was up 85.5% on a year-over-year basis. On average, equities research analysts anticipate that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In related news, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the transaction, the chief financial officer now owns 47,286 shares in the company, valued at approximately $4,492,170. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Tracey L. Mccain sold 5,194 shares of the firm’s 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 transaction, the executive vice president now directly owns 60,498 shares of the company’s stock, valued at $5,486,563.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Landsittel sold 5,000 shares of Blueprint Medicines stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the completion of the sale, the chief financial officer now owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,289 shares of company stock worth $8,314,163. 3.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Blueprint Medicines by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock worth $564,045,000 after acquiring an additional 147,827 shares during the period. Wellington Management Group LLP raised its stake in Blueprint Medicines by 3.2% in the third quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after purchasing an additional 156,807 shares in the last quarter. Rock Springs Capital Management LP lifted its position in Blueprint Medicines by 22.8% during the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock worth $134,855,000 after purchasing an additional 498,622 shares during the period. Polar Capital Holdings Plc increased its holdings in Blueprint Medicines by 108.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after buying an additional 540,000 shares during the period. Finally, Avidity Partners Management LP lifted its holdings in shares of Blueprint Medicines by 81.1% during the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after acquiring an additional 336,600 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.