Blueprint Medicines (NASDAQ:BPMC) Earns Buy Rating from HC Wainwright

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $135.00 price target on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 41.82% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Stephens reissued an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Wells Fargo & Company cut their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Piper Sandler upped their price objective 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. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their price target on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $95.19 on Friday. The stock has a market cap of $6.05 billion, a P/E ratio of -45.11 and a beta of 0.62. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a twelve month low of $72.24 and a twelve month high of $121.90. The company’s 50-day simple moving average is $99.65 and its 200 day simple moving average is $94.77.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. As a group, research analysts forecast that Blueprint Medicines will post -3.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the completion of the sale, the director now directly owns 152,396 shares of the company’s stock, valued at $16,691,933.88. The trade was a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kate Haviland sold 2,353 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, the chief executive officer now directly owns 150,824 shares in the company, valued at $14,569,598.40. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,851 shares of company stock valued at $4,984,696 over the last ninety days. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Management LLC boosted its stake in Blueprint Medicines by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 38,099 shares of the biotechnology company’s stock worth $3,323,000 after acquiring an additional 1,830 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Blueprint Medicines by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,208 shares of the biotechnology company’s stock worth $3,507,000 after purchasing an additional 1,200 shares during the period. Alpha DNA Investment Management LLC bought a new position in shares of Blueprint Medicines during the fourth quarter worth $445,000. Canada Pension Plan Investment Board bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at $1,727,000. Finally, XTX Topco Ltd raised its stake in Blueprint Medicines by 406.6% during the 4th quarter. XTX Topco Ltd now owns 11,146 shares of the biotechnology company’s stock worth $972,000 after buying an additional 8,946 shares during the period.

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.