Guggenheim Reiterates Buy Rating for Blueprint Medicines (NASDAQ:BPMC)

Guggenheim reiterated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Wednesday,Benzinga reports.

A number of other equities analysts have also commented on BPMC. 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 price target for the company. UBS Group began coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price for the company. Wells Fargo & Company decreased their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. Finally, Wedbush restated an “outperform” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.11.

Blueprint Medicines Trading Down 1.0 %

Shares of BPMC opened at $94.47 on Wednesday. The firm has a market cap of $6.00 billion, a P/E ratio of -44.77 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines has a 1 year low of $72.24 and a 1 year high of $121.90. The company has a 50 day simple moving average of $91.85 and a two-hundred day simple moving average of $97.62.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share 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 analysts’ expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines’s quarterly revenue was up 126.5% on a year-over-year basis. During the same period last year, the company posted ($2.20) earnings per share. On average, equities analysts expect that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the transaction, the chief executive officer now owns 150,824 shares in the company, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,260 shares of company stock worth $768,057. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently added to or reduced their stakes in the business. Triad Wealth Partners LLC bought a new stake in shares of Blueprint Medicines in the 2nd quarter valued at about $27,000. Quarry LP bought a new position in Blueprint Medicines in the third quarter worth approximately $32,000. Covestor Ltd lifted its holdings in Blueprint Medicines by 206.7% during the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after buying an additional 403 shares during the period. CWM LLC boosted its position in Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 590 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after acquiring an additional 131 shares during the period.

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.