HC Wainwright Reaffirms “Buy” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $135.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 41.82% from the stock’s current price.

Several other equities analysts have also recently weighed in on BPMC. Wells Fargo & Company lowered their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Piper Sandler boosted their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Wedbush reiterated an “outperform” rating and issued a $128.00 target price (up previously from $124.00) on shares of Blueprint Medicines in a research report on Thursday. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Wednesday, January 15th. Finally, StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Trading Down 8.1 %

Blueprint Medicines stock opened at $95.19 on Friday. The company has a 50 day moving average price of $99.65 and a 200 day moving average price of $94.77. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of -45.11 and a beta of 0.62.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Research analysts forecast that Blueprint Medicines will post -3.63 EPS for the current year.

Insider Buying and Selling

In other 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 sale, the insider now owns 14,967 shares in the company, valued at approximately $1,395,822.42. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 15,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the transaction, the director now directly owns 157,557 shares in the company, valued at $14,143,891.89. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,851 shares of company stock worth $4,984,696 in the last quarter. 4.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Blueprint Medicines by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock valued at $590,905,000 after buying an additional 91,450 shares during the period. Wellington Management Group LLP raised its holdings in Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after acquiring an additional 316,754 shares in the last quarter. State Street Corp lifted its position in shares of Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Blueprint Medicines by 16.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after purchasing an additional 269,896 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Blueprint Medicines by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company’s stock worth $129,996,000 after purchasing an additional 9,914 shares in the last quarter.

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.