Blueprint Medicines (NASDAQ:BPMC) Downgraded by TD Cowen to Hold

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) was downgraded by equities researchers at TD Cowen from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Wolfe Research downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Wedbush cut shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and lifted their target price for the company from $128.00 to $129.00 in a research note on Monday, June 2nd. Wall Street Zen upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Jefferies Financial Group started coverage on Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 price objective for the company. Finally, Scotiabank cut Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 target price on the stock. in a report on Monday, June 2nd. Seventeen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $129.35.

Blueprint Medicines Stock Down 0.0%

Shares of NASDAQ BPMC traded down $0.05 during mid-day trading on Tuesday, reaching $127.85. The company had a trading volume of 3,067,543 shares, compared to its average volume of 1,113,701. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines has a twelve month low of $73.04 and a twelve month high of $128.24. The stock's 50 day moving average is $95.59 and its 200-day moving average is $95.88. The stock has a market capitalization of $8.26 billion, a PE ratio of -118.38 and a beta of 0.84.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. 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 business posted $1.40 EPS. As a group, equities analysts anticipate that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 5,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total value 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 $14,830,158.20. This represents a 3.30% decrease in their position. The sale 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 that occurred on 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 sale, the insider now owns 16,944 shares in the company, valued at $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,574 shares of company stock valued at $1,465,528. Company insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently made changes to their positions in BPMC. KBC Group NV increased its holdings in shares of Blueprint Medicines by 63.9% in the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock worth $229,000 after acquiring an additional 1,023 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Blueprint Medicines during the fourth quarter worth $31,417,000. Stephens Inc. AR acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $321,000. Values First Advisors Inc. lifted its holdings in shares of Blueprint Medicines by 277.9% in the fourth quarter. Values First Advisors Inc. now owns 4,970 shares of the biotechnology company's stock valued at $433,000 after purchasing an additional 3,655 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $97,000 after acquiring an additional 363 shares in the last quarter.

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.