Blueprint Medicines’ (BPMC) Overweight Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a $140.00 target price on the biotechnology company’s stock.

A number of other research firms also recently weighed in on BPMC. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, November 14th. Wells Fargo & Company decreased their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. Finally, UBS Group began coverage on Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.33.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $88.35 on Thursday. The firm has a 50 day moving average of $93.04 and a 200-day moving average of $95.96. The stock has a market capitalization of $5.61 billion, a PE ratio of -41.87 and a beta of 0.61. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90.

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

Insiders Place Their Bets

In related news, insider Ariel Hurley sold 1,819 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the sale, the director now directly owns 157,557 shares in the company, valued at approximately $14,143,891.89. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,720 shares of company stock worth $2,177,846 in the last 90 days. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds have recently added to or reduced their stakes in BPMC. Exome Asset Management LLC bought a new stake in Blueprint Medicines in the third quarter worth about $3,395,000. Franklin Resources Inc. raised its holdings in shares of Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after buying an additional 265 shares during the period. Synovus Financial Corp lifted its stake in shares of Blueprint Medicines by 4.0% during the 3rd quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company’s stock worth $2,224,000 after acquiring an additional 922 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Blueprint Medicines during the 3rd quarter worth approximately $202,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Blueprint Medicines by 23.7% during the 3rd 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 acquiring an additional 3,162 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.