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

Needham & Company LLC reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report report published on Monday,Benzinga reports. They currently have a $135.00 price target on the biotechnology company’s stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company dropped their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday, December 9th. Finally, Stephens reissued an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.72.

Blueprint Medicines Trading Up 2.3 %

BPMC stock opened at $104.89 on Monday. The business has a fifty day moving average price of $93.75 and a 200 day moving average price of $95.29. 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 fifty-two week low of $72.24 and a fifty-two week high of $121.90. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of -49.71 and a beta of 0.61.

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, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the previous year, the business posted ($2.20) earnings per share. The firm’s revenue for the quarter was up 126.5% compared to the same quarter last year. Analysts expect that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the sale, the chief operating officer now owns 71,657 shares of the company’s stock, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the transaction, the director now directly owns 157,557 shares of the company’s stock, valued at $14,143,891.89. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,970 shares of company stock worth $2,914,246. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in BPMC. Amalgamated Bank boosted its holdings in Blueprint Medicines by 5.3% during the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 109 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Blueprint Medicines by 3.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after buying an additional 176 shares during the last quarter. Clarus Wealth Advisors grew its holdings in shares of Blueprint Medicines by 8.6% in the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after acquiring an additional 206 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Blueprint Medicines by 5.2% in the second quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company’s stock valued at $527,000 after acquiring an additional 243 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after acquiring an additional 265 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.