Blueprint Medicines’ (BPMC) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $125.00 target price on the biotechnology company’s stock.

Several other analysts also recently issued reports on the company. 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 research note on Thursday, October 31st. Wedbush reiterated an “outperform” rating and set a $124.00 price target (down previously from $135.00) on shares of Blueprint Medicines in a research note on Monday. JPMorgan Chase & Co. started coverage on Blueprint Medicines in a research note on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price for the company. Stephens restated an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Monday. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.72.

Blueprint Medicines Trading Up 2.3 %

BPMC opened at $104.89 on Wednesday. The stock has a 50-day moving average of $93.85 and a 200-day moving average of $95.36. Blueprint Medicines has a 52-week low of $72.24 and a 52-week high of $121.90. 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 (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping 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% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.20) EPS. Equities analysts forecast that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, CEO Kate Haviland sold 2,353 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the completion of the transaction, the director now directly owns 157,557 shares of the company’s stock, valued at approximately $14,143,891.89. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,970 shares of company stock valued at $2,914,246. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently modified their holdings of BPMC. Federated Hermes Inc. grew its position in Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after acquiring an additional 13,579 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Blueprint Medicines during the 2nd quarter worth approximately $18,273,000. Citizens Financial Group Inc. RI bought a new stake in Blueprint Medicines during the 2nd quarter worth approximately $423,000. Renaissance Technologies LLC grew its position in Blueprint Medicines by 132.4% during the 2nd quarter. Renaissance Technologies LLC now owns 110,400 shares of the biotechnology company’s stock worth $11,899,000 after acquiring an additional 62,900 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Blueprint Medicines during the 2nd quarter worth approximately $1,113,000.

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.