Blueprint Medicines Co. (NASDAQ:BPMC) Receives Average Rating of “Moderate Buy” from Brokerages

Blueprint Medicines Co. (NASDAQ:BPMC) has been assigned an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $123.56.

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Piper Sandler upped their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Wednesday, January 15th. HC Wainwright restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Finally, Wedbush restated an “outperform” rating and issued a $124.00 target price (down from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $111.50 on Thursday. Blueprint Medicines has a one year low of $72.24 and a one year high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The company has a 50 day moving average price of $98.13 and a 200 day moving average price of $95.03. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of -52.84 and a beta of 0.61.

Insider Transactions at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,161 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total value of $1,660,584.33. Following the sale, the director now owns 152,396 shares of the company’s stock, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares in the company, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,851 shares of company stock worth $4,984,696. 4.21% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

A number of large investors have recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in shares of Blueprint Medicines by 19.2% in the 4th quarter. Handelsbanken Fonder AB now owns 18,651 shares of the biotechnology company’s stock worth $1,627,000 after acquiring an additional 3,000 shares during the period. Ieq Capital LLC acquired a new position in Blueprint Medicines during the 4th quarter valued at about $886,000. Peregrine Capital Management LLC increased its stake in Blueprint Medicines by 1.8% during the 4th quarter. Peregrine Capital Management LLC now owns 98,812 shares of the biotechnology company’s stock valued at $8,618,000 after buying an additional 1,761 shares during the period. Venturi Wealth Management LLC acquired a new position in Blueprint Medicines during the 4th quarter valued at about $131,000. Finally, Truist Financial Corp acquired a new position in Blueprint Medicines during the 4th quarter valued at about $221,000.

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.