Blueprint Medicines Co. (NASDAQ:BPMC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $124.95.

Several brokerages have recently issued reports on BPMC. JMP Securities reissued a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $133.00 price target on shares of Blueprint Medicines in a research report on Thursday, February 13th. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Piper Sandler boosted their target price on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, Scotiabank initiated coverage on shares of Blueprint Medicines in a research report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price target on the stock.

Blueprint Medicines Price Performance

BPMC stock opened at $93.08 on Friday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -86.18 and a beta of 0.58. The stock’s fifty day simple moving average is $99.12 and its 200-day simple moving average is $93.97. Blueprint Medicines has a 52-week low of $80.68 and a 52-week high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. 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 net margin of 13.19% and a negative return on equity of 77.49%. Equities research analysts expect that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Activity at Blueprint Medicines

In other news, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction that occurred 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 approximately $16,467,430.72. The trade was a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.14, for a total value of $250,458.36. Following the sale, the chief operating officer now directly owns 67,109 shares in the company, valued at approximately $7,391,385.26. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,334 shares of company stock valued at $3,103,512 over the last three months. 4.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently bought and sold shares of BPMC. Empirical Asset Management LLC acquired a new position in Blueprint Medicines in the fourth quarter valued at approximately $2,348,000. Stephens Inc. AR bought a new position in Blueprint Medicines during the 4th quarter worth $321,000. Massachusetts Financial Services Co. MA increased 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 buying an additional 82,693 shares during the period. Bank of New York Mellon Corp lifted its stake in Blueprint Medicines by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock valued at $26,465,000 after buying an additional 7,101 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Blueprint Medicines by 63.9% during the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 1,023 shares during the period.

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.