Blueprint Medicines’ (BPMC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a $133.00 price objective on the biotechnology company’s stock.

Several other research analysts have also issued reports on the company. Morgan Stanley upped their target price on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Oppenheimer upped their price objective on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays upped their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Guggenheim lifted their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $120.39.

Blueprint Medicines Stock Up 3.6 %

Shares of Blueprint Medicines stock opened at $90.70 on Wednesday. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. The company has a market cap of $5.75 billion, a P/E ratio of -42.99 and a beta of 0.58. The firm’s 50 day moving average price is $88.79 and its 200-day moving average price is $98.39. Blueprint Medicines has a 52-week low of $56.74 and a 52-week high of $121.90.

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. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 118.86%. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period in the previous year, the company earned ($2.20) earnings per share. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. On average, sell-side analysts predict that Blueprint Medicines will post -3.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Philina Lee sold 41,913 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares of the company’s stock, valued at $3,236,395.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Triad Wealth Partners LLC purchased a new stake in Blueprint Medicines during the 2nd quarter worth approximately $27,000. Covestor Ltd raised its position in shares of Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 291 shares during the last quarter. Headlands Technologies LLC boosted its position in Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 342 shares during the last quarter. Natixis purchased a new stake in Blueprint Medicines during the 1st quarter valued at about $73,000. Finally, CWM LLC grew its position in shares of Blueprint Medicines by 114.6% in the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 590 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.