Blueprint Medicines (NASDAQ:BPMC) Earns Equal Weight Rating from Wells Fargo & Company

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "equal weight" rating restated by equities researchers at Wells Fargo & Company in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $129.00 price objective on the biotechnology company's stock, down from their previous price objective of $143.00. Wells Fargo & Company's price objective suggests a potential upside of 0.65% from the company's previous close.

Several other equities research analysts also recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, May 2nd. Citigroup raised shares of Blueprint Medicines from a "strong sell" rating to a "hold" rating and raised their price objective for the stock from $83.00 to $129.00 in a research report on Wednesday, June 4th. Wedbush downgraded shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and boosted their target price for the company from $128.00 to $129.00 in a research report on Monday, June 2nd. Scotiabank downgraded Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 target price for the company. in a research note on Monday, June 2nd. Finally, Wolfe Research lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. Eighteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $128.06.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded down $0.08 during trading hours on Tuesday, hitting $128.17. The company had a trading volume of 197,570 shares, compared to its average volume of 1,215,465. The firm has a 50-day moving average of $101.00 and a 200 day moving average of $97.27. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The firm has a market cap of $8.28 billion, a PE ratio of -118.67 and a beta of 0.84. Blueprint Medicines has a one year low of $73.04 and a one year high of $128.59.

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 (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. During the same quarter last year, the firm earned $1.40 earnings per share. The business's revenue for the quarter was up 55.5% compared to the same quarter last year. On average, sell-side analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of the firm's 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 transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the completion of the transaction, the chief operating officer now directly owns 66,992 shares of the company's stock, valued at $6,816,436. The trade was a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,574 shares of company stock valued at $1,465,528. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Blueprint Medicines by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock valued at $590,905,000 after buying an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD increased its position in Blueprint Medicines by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock valued at $495,331,000 after purchasing an additional 291,822 shares during the period. Wellington Management Group LLP lifted its position in shares of Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock worth $373,421,000 after purchasing an additional 316,754 shares during the period. William Blair Investment Management LLC boosted its stake in Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock worth $169,616,000 after purchasing an additional 269,896 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Blueprint Medicines by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock valued at $129,996,000 after purchasing an additional 9,914 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.

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