Blueprint Medicines (NASDAQ:BPMC) Rating Increased to Market Perform at SVB Leerink

Blueprint Medicines (NASDAQ:BPMC) was upgraded by equities research analysts at SVB Leerink from an “underperform” rating to a “market perform” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $97.00 target price on the biotechnology company’s stock, up from their previous target price of $50.00. SVB Leerink’s price objective indicates a potential downside of 10.64% from the company’s current price.

A number of other research firms also recently commented on BPMC. Stifel Nicolaus raised their target price on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, April 26th. HC Wainwright raised their target price on shares of Blueprint Medicines from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Piper Sandler lifted their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blueprint Medicines currently has an average rating of “Hold” and an average target price of $100.31.

Blueprint Medicines Stock Up 2.2 %

NASDAQ:BPMC opened at $108.55 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The firm has a market cap of $6.64 billion, a PE ratio of -22.57 and a beta of 0.65. The company has a 50-day moving average of $92.17 and a 200 day moving average of $81.81. Blueprint Medicines has a 1-year low of $43.89 and a 1-year high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. The business had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter last year, the firm posted ($2.65) EPS. As a group, research analysts anticipate that Blueprint Medicines will post -5.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Ariel Hurley sold 1,834 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the sale, the insider now directly owns 14,913 shares in the company, valued at approximately $1,549,162.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Blueprint Medicines news, CEO Kate Haviland sold 12,464 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the completion of the sale, the chief executive officer now directly owns 153,177 shares in the company, valued at approximately $13,891,622.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ariel Hurley sold 1,834 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total transaction of $190,515.92. Following the sale, the insider now owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,123 shares of company stock valued at $9,554,679. Insiders own 3.88% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently added to or reduced their stakes in the company. Readystate Asset Management LP acquired a new position in shares of Blueprint Medicines in the fourth quarter worth about $3,692,000. American Century Companies Inc. grew its holdings in Blueprint Medicines by 5.2% in the third quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock valued at $33,696,000 after purchasing an additional 33,243 shares during the period. Diversified Trust Co increased its position in shares of Blueprint Medicines by 2.9% in the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after buying an additional 318 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Blueprint Medicines by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after buying an additional 757 shares during the period. Finally, Rafferty Asset Management LLC lifted its position in shares of Blueprint Medicines by 17.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock valued at $8,371,000 after buying an additional 24,693 shares in 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.