Blueprint Medicines (NASDAQ:BPMC) Receives “Buy” Rating from Needham & Company LLC

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $133.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 28.43% from the company’s previous close.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Stephens reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Piper Sandler increased their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. JMP Securities restated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Wednesday, January 15th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $124.00 price target (down previously from $135.00) on shares of Blueprint Medicines in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $123.61.

Blueprint Medicines Price Performance

NASDAQ:BPMC opened at $103.56 on Thursday. The firm’s fifty day moving average is $99.65 and its two-hundred day moving average is $94.77. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of -49.08 and a beta of 0.62. Blueprint Medicines has a one year low of $72.24 and a one year high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Research analysts expect that Blueprint Medicines will post -3.63 EPS for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This represents a 0.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the transaction, the chief operating officer now owns 71,657 shares in the company, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,851 shares of company stock valued at $4,984,696. Corporate insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Blueprint Medicines during the 3rd quarter valued at approximately $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines in the fourth quarter valued at $51,000. Covestor Ltd lifted its stake in shares of Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 403 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Blueprint Medicines during the 4th quarter worth $65,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Blueprint Medicines during the 4th quarter worth about $88,000.

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.