Blueprint Medicines’ (BPMC) “Buy” Rating Reiterated at Guggenheim

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports.

A number of other research analysts have also commented on BPMC. UBS Group began coverage on Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Wells Fargo & Company decreased their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Monday. Finally, StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.11.

Blueprint Medicines Price Performance

Shares of BPMC traded up $0.52 during midday trading on Wednesday, reaching $95.91. The stock had a trading volume of 163,295 shares, compared to its average volume of 682,676. The firm’s 50 day moving average price is $91.77 and its 200-day moving average price is $97.65. The company has a market capitalization of $6.09 billion, a P/E ratio of -45.25 and a beta of 0.59. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90. 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 (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Blueprint Medicines’s revenue was up 126.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.20) earnings per share. On average, analysts forecast that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the sale, the chief operating officer now owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,260 shares of company stock worth $768,057. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new position in shares of Blueprint Medicines in the 2nd quarter worth $1,060,000. Federated Hermes Inc. boosted its stake in shares of Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after acquiring an additional 13,579 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Blueprint Medicines by 82.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock valued at $2,337,000 after purchasing an additional 9,819 shares during the period. Massachusetts Financial Services Co. MA grew its position in Blueprint Medicines by 48.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock worth $23,332,000 after acquiring an additional 82,693 shares in the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in shares of Blueprint Medicines in the second quarter worth approximately $4,377,000.

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.