Blueprint Medicines Corporation (NASDAQ:BPMC) Receives Average Recommendation of "Hold" from Analysts

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty-two brokerages that are covering the stock, Marketbeat Ratings reports. Seventeen equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $128.06.

A number of research analysts recently issued reports on the stock. Scotiabank cut shares of Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 price objective for the company. in a report on Monday, June 2nd. Wall Street Zen upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Morgan Stanley upped their price target on shares of Blueprint Medicines from $102.00 to $129.00 and gave the company an "equal weight" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $129.00 price target (down previously from $130.00) on shares of Blueprint Medicines in a report on Monday, June 2nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Blueprint Medicines in a report on Tuesday, June 3rd.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the company's 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 sale, the director now directly owns 146,630 shares of the company's stock, valued at approximately $14,830,158.20. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 2,752 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider now directly owns 16,944 shares in the company, valued at $1,747,434.72. The trade was a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,300 shares of company stock valued at $1,249,453. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently modified their holdings of the stock. Intrust Bank NA raised its position in shares of Blueprint Medicines by 3.4% in the first quarter. Intrust Bank NA now owns 3,557 shares of the biotechnology company's stock valued at $315,000 after purchasing an additional 118 shares during the period. Fifth Third Bancorp raised its position in shares of Blueprint Medicines by 4.7% in the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock valued at $285,000 after purchasing an additional 146 shares during the period. Covestor Ltd raised its position in shares of Blueprint Medicines by 15.9% in the first quarter. Covestor Ltd now owns 1,128 shares of the biotechnology company's stock valued at $100,000 after purchasing an additional 155 shares during the period. Torray Investment Partners LLC raised its position in shares of Blueprint Medicines by 1.1% in the first quarter. Torray Investment Partners LLC now owns 16,679 shares of the biotechnology company's stock valued at $1,476,000 after purchasing an additional 180 shares during the period. Finally, Headlands Technologies LLC grew its stake in shares of Blueprint Medicines by 25.0% in the first quarter. Headlands Technologies LLC now owns 936 shares of the biotechnology company's stock valued at $83,000 after acquiring an additional 187 shares in the last quarter.

Blueprint Medicines Stock Down 0.0%

Shares of NASDAQ BPMC opened at $128.11 on Friday. The stock has a market cap of $8.27 billion, a P/E ratio of -51.87 and a beta of 0.84. The firm has a 50 day moving average price of $109.27 and a 200 day moving average price of $99.29. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80. Blueprint Medicines has a 52-week low of $73.04 and a 52-week high of $128.45.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The firm had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative net margin of 27.70% and a negative return on equity of 64.60%. The firm's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 EPS. Analysts expect that Blueprint Medicines will post -1.28 EPS for the current year.

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.

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