Needham & Company LLC Downgrades Blueprint Medicines (NASDAQ:BPMC) to Hold

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) was downgraded by stock analysts at Needham & Company LLC from a "moderate buy" rating to a "hold" rating in a research report issued on Monday, Marketbeat reports. They currently have a $130.00 target price on the biotechnology company's stock. Needham & Company LLC's price objective indicates a potential upside of 1.62% from the stock's current price.

Several other equities research analysts also recently commented on the stock. Wall Street Zen raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Jefferies Financial Group started coverage on Blueprint Medicines in a research note on Monday, March 17th. They issued a "buy" rating and a $135.00 price objective for the company. Morgan Stanley began coverage on Blueprint Medicines in a research report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 target price on the stock. Finally, Scotiabank assumed coverage on Blueprint Medicines in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 price target for the company. Sixteen 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $129.71.

Blueprint Medicines Trading Down 0.1%

Shares of Blueprint Medicines stock traded down $0.18 during trading on Monday, hitting $127.93. The company's stock had a trading volume of 3,177,303 shares, compared to its average volume of 1,696,674. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of -118.45 and a beta of 0.83. 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 has a 52 week low of $73.04 and a 52 week high of $128.24. 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 issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The company's quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 EPS. Equities research analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, insider Ariel Hurley sold 2,752 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the transaction, the insider now owns 16,944 shares in the company, valued at $1,747,434.72. The trade was 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 Blueprint Medicines 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 owns 146,630 shares in the company, valued at approximately $14,830,158.20. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,574 shares of company stock valued at $1,465,528. Insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

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