Blueprint Medicines' (BPMC) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Monday,Benzinga reports. They currently have a $129.00 price objective on the biotechnology company's stock, down from their prior price objective of $130.00. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 0.70% from the stock's previous close.

A number of other research firms have also issued reports on BPMC. Wedbush reissued a "neutral" rating and set a $129.00 target price (up from $128.00) on shares of Blueprint Medicines in a research note on Monday. Needham & Company LLC lowered shares of Blueprint Medicines from a "moderate buy" rating to a "hold" rating and set a $130.00 price target for the company. in a research note on Monday. Scotiabank lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and set a $135.00 price target for the company. in a research note on Monday. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They issued a "buy" rating and a $135.00 price target for the company. Finally, Wolfe Research initiated coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They issued an "outperform" rating for the company. Fifteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Blueprint Medicines currently has an average rating of "Hold" and a consensus target price of $125.59.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded up $0.50 during midday trading on Monday, reaching $128.10. 8,923,089 shares of the stock traded hands, compared to its average volume of 1,083,617. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average price of $93.96 and a two-hundred day moving average price of $95.39. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of -118.61 and a beta of 0.83. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $128.15.

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). 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 13.19% and a negative return on equity of 77.49%. The company's revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 earnings per share. On average, equities research analysts forecast that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $100.51, for a total transaction of $228,559.74. Following the sale, the chief operating officer now owns 64,718 shares in the company, valued at $6,504,806.18. The trade was a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction that occurred 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 owns 146,630 shares in the company, valued at $14,830,158.20. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,574 shares of company stock worth $1,465,528 in the last ninety days. 4.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Blueprint Medicines by 5.4% during the fourth 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 acquiring an additional 291,822 shares during the period. Wellington Management Group LLP raised its holdings in shares of Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after acquiring an additional 316,754 shares during the period. William Blair Investment Management LLC increased 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 valued at $169,616,000 after buying an additional 269,896 shares during the period. Finally, Geode Capital Management LLC increased its stake in Blueprint Medicines by 0.7% in 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 buying an additional 9,914 shares during the period.

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.