Blueprint Medicines’ (BPMC) “Buy” Rating Reiterated at Guggenheim

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reiterated by equities researchers at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports.

Several other analysts have also recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Monday. Wells Fargo & Company lowered their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a research note on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Stock Up 0.5 %

NASDAQ:BPMC traded up $0.52 on Wednesday, reaching $95.91. The stock had a trading volume of 163,295 shares, compared to its average volume of 682,676. The company has a 50-day moving average of $91.77 and a 200 day moving average of $97.65. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The stock has a market cap of $6.09 billion, a P/E ratio of -45.25 and a beta of 0.59. Blueprint Medicines has a 12-month low of $72.24 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Blueprint Medicines’s quarterly revenue was up 126.5% on a year-over-year basis. During the same period in the prior year, the company posted ($2.20) EPS. On average, research analysts predict that Blueprint Medicines will post -3.68 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the transaction, the chief executive officer now owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,260 shares of company stock valued at $768,057 in the last 90 days. 4.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after buying an additional 265 shares during the last quarter. Synovus Financial Corp boosted its position in Blueprint Medicines by 4.0% in the 3rd quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company’s stock valued at $2,224,000 after buying an additional 922 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Blueprint Medicines in the 3rd quarter worth about $202,000. Teachers Retirement System of The State of Kentucky increased its stake in Blueprint Medicines by 23.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company’s stock valued at $1,528,000 after purchasing an additional 3,162 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Blueprint Medicines by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after acquiring an additional 20,703 shares during the period.

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.