Blueprint Medicines (NASDAQ:BPMC) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a report released on Monday.

Several other equities analysts also recently issued reports on BPMC. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Piper Sandler increased their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.83.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $89.92 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines has a 1 year low of $80.68 and a 1 year high of $121.90. The company has a market capitalization of $5.75 billion, a PE ratio of -83.26 and a beta of 0.62. The company has a fifty day moving average of $99.50 and a two-hundred day moving average of $94.34.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. As a group, analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares of the company’s stock, valued at approximately $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $14,143,891.89. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,427 shares of company stock valued at $4,837,801. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BPMC. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Blueprint Medicines by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,291 shares of the biotechnology company’s stock worth $212,000 after purchasing an additional 422 shares in the last quarter. US Bancorp DE increased its stake in shares of Blueprint Medicines by 147.6% during the 3rd quarter. US Bancorp DE now owns 11,971 shares of the biotechnology company’s stock worth $1,107,000 after purchasing an additional 7,137 shares in the last quarter. M&G PLC purchased a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $9,101,000. Covestor Ltd increased its stake in shares of Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $999,000.

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.