Blueprint Medicines (NASDAQ:BPMC) Receives Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) in a research note released on Tuesday,Benzinga reports.

Several other equities research analysts have also recently issued reports on BPMC. HC Wainwright reiterated a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, May 2nd. JPMorgan Chase & Co. restated a "neutral" rating and set a $129.00 target price (down from $130.00) on shares of Blueprint Medicines in a research note on Monday. Stephens cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $150.00 to $135.00 in a research note on Tuesday. Jefferies Financial Group assumed coverage on Blueprint Medicines in a research note on Monday, March 17th. They set a "buy" rating and a $135.00 target price for the company. Finally, Needham & Company LLC cut Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 target price for the company. in a research note on Monday. Seventeen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $129.35.

Blueprint Medicines Price Performance

Shares of BPMC stock traded down $0.05 during trading on Tuesday, hitting $127.85. The company had a trading volume of 3,067,543 shares, compared to its average volume of 1,110,342. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The firm has a market capitalization of $8.26 billion, a P/E ratio of -118.38 and a beta of 0.83. The stock's 50-day moving average price is $95.59 and its 200 day moving average price is $95.88. Blueprint Medicines has a one year low of $73.04 and a one year high of $128.24.

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 (EPS) 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 the consensus estimate 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 quarter last year, the firm posted $1.40 earnings per share. Equities analysts expect that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ariel Hurley sold 2,752 shares of the 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 sale, the insider now owns 16,944 shares of the company's stock, valued at $1,747,434.72. The trade was a 13.97% 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 worth $1,465,528. Corporate insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $65,000. Thematics Asset Management acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $72,000. Covestor Ltd increased 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 valued at $85,000 after buying an additional 375 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Blueprint Medicines in the first quarter valued at about $87,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $88,000.

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.