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 note released on Wednesday morning, Benzinga reports. They currently have a $133.00 price objective on the biotechnology company’s stock.

Several other research firms have also recently issued reports on BPMC. Morgan Stanley lifted their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Guggenheim increased their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Oppenheimer boosted their target price on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, UBS Group assumed coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.39.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC opened at $90.70 on Wednesday. The stock has a market cap of $5.75 billion, a PE ratio of -42.99 and a beta of 0.58. Blueprint Medicines has a 1 year low of $56.74 and a 1 year high of $121.90. The firm has a fifty day moving average price of $88.79 and a 200-day moving average price of $98.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 118.86% and a negative net margin of 29.48%. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same quarter in the prior year, the business posted ($2.20) EPS. Blueprint Medicines’s revenue for the quarter was up 126.5% compared to the same quarter last year. Equities analysts anticipate that Blueprint Medicines will post -3.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Blueprint Medicines during the 1st quarter worth about $218,000. Principal Financial Group Inc. boosted its stake in shares of Blueprint Medicines by 331.9% during the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock valued at $5,945,000 after purchasing an additional 48,160 shares in the last quarter. SG Americas Securities LLC increased its holdings in Blueprint Medicines by 117.6% during the first quarter. SG Americas Securities LLC now owns 11,865 shares of the biotechnology company’s stock valued at $1,126,000 after buying an additional 6,412 shares during the period. Swiss National Bank raised its stake in Blueprint Medicines by 0.4% in the first quarter. Swiss National Bank now owns 114,000 shares of the biotechnology company’s stock worth $10,814,000 after buying an additional 500 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Blueprint Medicines during the first quarter worth $474,000.

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.