Blueprint Medicines (NASDAQ:BPMC) Given Market Outperform Rating at JMP Securities

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a report released on Friday,Benzinga reports. They presently have a $125.00 target price on the biotechnology company’s stock. JMP Securities’ price target suggests a potential upside of 33.14% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and set a $128.00 price target (up from $124.00) on shares of Blueprint Medicines in a report on Thursday. JPMorgan Chase & Co. increased their price target on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Stephens reaffirmed an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research report on Thursday, January 2nd. UBS Group initiated coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.83.

Blueprint Medicines Trading Down 1.4 %

Shares of Blueprint Medicines stock traded down $1.30 on Friday, hitting $93.89. The stock had a trading volume of 76,764 shares, compared to its average volume of 1,004,135. The stock has a 50 day moving average of $99.65 and a 200 day moving average of $94.77. Blueprint Medicines has a twelve month low of $77.57 and a twelve month high of $121.90. The firm has a market capitalization of $5.96 billion, a P/E ratio of -44.52 and a beta of 0.62. 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 (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts expect that Blueprint Medicines will post -3.63 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the sale, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. The trade was a 9.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction that occurred 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 sale, the chief executive officer now owns 150,824 shares in the company, valued at $14,569,598.40. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,851 shares of company stock valued at $4,984,696. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Pallas Capital Advisors LLC raised its stake in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after purchasing an additional 176 shares during the last quarter. Torray Investment Partners LLC increased its position in Blueprint Medicines by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after acquiring an additional 186 shares during the last quarter. Franklin Resources Inc. increased its position in Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after acquiring an additional 265 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Blueprint Medicines by 4.4% during the fourth quarter. Ameritas Investment Partners Inc. now owns 6,652 shares of the biotechnology company’s stock valued at $580,000 after acquiring an additional 283 shares during the last quarter. Finally, Pitcairn Co. increased its position in Blueprint Medicines by 2.8% during the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock valued at $925,000 after acquiring an additional 293 shares during the last quarter.

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.