Blueprint Medicines (NASDAQ:BPMC) Downgraded to "Hold" Rating by Scotiabank

Scotiabank lowered shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) from a strong-buy rating to a hold rating in a research note published on Monday morning, MarketBeat.com reports. The firm currently has $135.00 target price on the biotechnology company's stock.

Other analysts also recently issued reports about the stock. Wedbush reissued a "neutral" rating and issued a $129.00 target price (up from $128.00) on shares of Blueprint Medicines in a research report on Monday. Wall Street Zen raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. HC Wainwright reissued a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, May 2nd. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Fifteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $125.59.

Blueprint Medicines Stock Up 0.4%

BPMC stock traded up $0.50 during trading hours on Monday, hitting $128.10. The company's stock had a trading volume of 8,923,089 shares, compared to its average volume of 1,083,617. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $8.27 billion, a PE ratio of -118.61 and a beta of 0.83. Blueprint Medicines has a 12 month low of $73.04 and a 12 month high of $128.15. The stock has a 50 day moving average price of $93.96 and a two-hundred day moving average price of $95.39.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The business had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business's revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, equities research analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,752 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the sale, the insider now directly owns 16,944 shares of the company's stock, valued at $1,747,434.72. This represents a 13.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the completion of the sale, the director now directly owns 146,630 shares of the company's stock, valued at approximately $14,830,158.20. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,574 shares of company stock valued at $1,465,528 in the last ninety days. Company insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently bought and sold shares of BPMC. Avoro Capital Advisors LLC bought a new stake in Blueprint Medicines in the 4th quarter valued at $103,356,000. Siren L.L.C. bought a new position in shares of Blueprint Medicines during the 1st quarter worth about $64,273,000. Norges Bank bought a new position in shares of Blueprint Medicines during the 4th quarter worth about $62,028,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Blueprint Medicines by 86.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,302,810 shares of the biotechnology company's stock worth $115,312,000 after acquiring an additional 605,783 shares during the period. Finally, Braidwell LP bought a new position in shares of Blueprint Medicines during the 1st quarter worth about $38,942,000.

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.