Blueprint Medicines (NASDAQ:BPMC) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a research report sent to investors on Monday.

BPMC has been the topic of a number of other research reports. Stephens reiterated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. Piper Sandler lifted their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a report on Thursday, February 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $128.00 price target on shares of Blueprint Medicines in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Stock Up 0.6 %

Shares of NASDAQ BPMC opened at $89.92 on Monday. Blueprint Medicines has a 1 year low of $80.68 and a 1 year high of $121.90. The firm’s 50 day moving average price is $99.50 and its 200 day moving average price is $94.34. The firm has a market cap of $5.75 billion, a P/E ratio of -83.26 and a beta of 0.62. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. As a group, sell-side analysts anticipate that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares of the company’s stock, valued at $16,467,430.72. The trade was a 0.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the completion of the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,395,822.42. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,427 shares of company stock valued at $4,837,801 in the last quarter. Company insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter worth about $32,000. R Squared Ltd bought a new stake in shares of Blueprint Medicines in the 4th quarter worth about $51,000. Covestor Ltd increased its position in shares of Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter worth about $65,000. Finally, Thematics Asset Management bought a new stake in shares of Blueprint Medicines in the 4th quarter worth about $72,000.

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.