Blueprint Medicines' (BPMC) "Neutral" Rating Reiterated at Wedbush

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Wedbush in a research report issued on Monday, MarketBeat reports. They currently have a $129.00 price objective on the biotechnology company's stock, up from their prior price objective of $128.00. Wedbush's price objective suggests a potential upside of 1.10% from the company's current price.

Several other research firms have also issued reports on BPMC. JPMorgan Chase & Co. upped their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Needham & Company LLC lowered Blueprint Medicines from a "moderate buy" rating to a "hold" rating and set a $130.00 target price on the stock. in a report on Monday. Wolfe Research started coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They set an "outperform" rating on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Jefferies Financial Group assumed coverage on Blueprint Medicines in a research report on Monday, March 17th. They set a "buy" rating and a $135.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $125.38.

Blueprint Medicines Trading Down 0.1%

Shares of NASDAQ BPMC traded down $0.19 during midday trading on Monday, hitting $127.60. The stock had a trading volume of 20,102,612 shares, compared to its average volume of 1,049,647. The company's 50-day simple moving average is $92.42 and its 200 day simple moving average is $94.93. The firm has a market cap of $8.24 billion, a P/E ratio of -118.15 and a beta of 0.83. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $128.21. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results 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). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The business had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same period in the previous year, the firm posted $1.40 earnings per share. The firm's revenue was up 55.5% on a year-over-year basis. Research analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the sale, the chief operating officer now directly owns 66,992 shares in the company, valued at approximately $6,816,436. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $283,813.76. Following the completion of the sale, the insider now owns 16,944 shares of the company's stock, valued at approximately $1,747,434.72. This trade 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 have sold 14,574 shares of company stock valued at $1,465,528. 4.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Blueprint Medicines during the fourth quarter worth about $65,000. Thematics Asset Management acquired a new stake in shares of Blueprint Medicines in the fourth quarter worth approximately $72,000. Covestor Ltd boosted its stake in shares of Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after acquiring an additional 375 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Blueprint Medicines during the first quarter worth $87,000. Finally, Asset Management One Co. Ltd. acquired a new position in Blueprint Medicines during the fourth quarter worth $88,000.

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.