Blueprint Medicines’ (BPMC) “Buy” Rating Reaffirmed at HC Wainwright

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 41.14% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Thursday. Robert W. Baird upped their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. UBS Group started coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price target for the company. Guggenheim upped their target price on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company dropped 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 report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Trading Down 1.3 %

Shares of Blueprint Medicines stock opened at $95.65 on Friday. Blueprint Medicines has a 12-month low of $62.56 and a 12-month high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $89.55 and its 200-day moving average is $98.89. The stock has a market cap of $6.08 billion, a P/E ratio of -45.33 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data 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 company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same period last year, the firm posted ($2.20) earnings per share. The business’s revenue was up 126.5% on a year-over-year basis. Equities research analysts predict that Blueprint Medicines will post -3.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value 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. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Blueprint Medicines in the first quarter worth $218,000. Swiss National Bank raised its holdings in shares of Blueprint Medicines by 0.4% in the 1st quarter. Swiss National Bank now owns 114,000 shares of the biotechnology company’s stock valued at $10,814,000 after acquiring an additional 500 shares in the last quarter. Sei Investments Co. boosted its position in shares of Blueprint Medicines by 36.6% during the 1st quarter. Sei Investments Co. now owns 45,913 shares of the biotechnology company’s stock valued at $4,355,000 after acquiring an additional 12,311 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Blueprint Medicines by 44.3% in the first quarter. Russell Investments Group Ltd. now owns 57,714 shares of the biotechnology company’s stock valued at $5,475,000 after purchasing an additional 17,712 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.