JMP Securities Reiterates "Market Perform" Rating for Blueprint Medicines (NASDAQ:BPMC)

JMP Securities reaffirmed their market perform rating on shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) in a report issued on Tuesday morning,Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. 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 price target on the stock. Wedbush restated a "neutral" rating and issued a $129.00 price objective (up previously from $128.00) on shares of Blueprint Medicines in a research report on Monday. Scotiabank cut shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and set a $135.00 price objective for the company. in a research report on Monday. Finally, HC Wainwright restated a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, May 2nd. Fifteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $125.59.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC traded up $0.50 during trading on Tuesday, reaching $128.10. The company had a trading volume of 8,923,089 shares, compared to its average volume of 1,083,617. The firm's fifty day moving average is $93.17 and its 200 day moving average is $95.16. The firm has a market capitalization of $8.27 billion, a PE ratio of -118.61 and a beta of 0.83. Blueprint Medicines has a twelve month low of $73.04 and a twelve month high of $128.15. 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 (NASDAQ:BPMC - Get Free Report) last released its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) 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 business had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. During the same period in the prior year, the company earned $1.40 earnings per share. The firm's revenue for the quarter was up 55.5% on a year-over-year basis. On average, equities analysts forecast that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the firm'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 transaction, the director now directly owns 146,630 shares of the company's stock, valued at approximately $14,830,158.20. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,574 shares of company stock valued at $1,465,528 over the last ninety days. Insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock worth $590,905,000 after acquiring an additional 91,450 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Blueprint Medicines by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock worth $495,331,000 after acquiring an additional 291,822 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 acquiring an additional 316,754 shares during the last quarter. 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 worth $169,616,000 after acquiring an additional 269,896 shares during the last quarter. 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 worth $129,996,000 after acquiring an additional 9,914 shares during the last quarter.

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.