Blueprint Medicines' (BPMC) Buy Rating Reiterated at HC Wainwright

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company's stock. HC Wainwright's target price would suggest a potential upside of 32.57% from the company's current price.

BPMC has been the subject of several other research reports. Wedbush restated an "outperform" rating and issued a $128.00 price target on shares of Blueprint Medicines in a report on Thursday. Morgan Stanley began coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price target for the company. Needham & Company LLC decreased their price target on shares of Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Piper Sandler upped their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Finally, Scotiabank began coverage on Blueprint Medicines in a research report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Blueprint Medicines currently has a consensus rating of "Moderate Buy" and an average target price of $127.22.

Blueprint Medicines Price Performance

Blueprint Medicines stock traded down $2.81 during midday trading on Friday, reaching $101.83. 1,146,173 shares of the company were exchanged, compared to its average volume of 774,135. The firm's 50-day simple moving average is $87.69 and its 200-day simple moving average is $93.38. Blueprint Medicines has a 1 year low of $73.04 and a 1 year high of $121.90. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of -94.29 and a beta of 0.83. 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 issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The firm had revenue of $149.41 million for the quarter, compared to analysts' expectations of $158.31 million. During the same quarter last year, the firm earned $1.40 earnings per share. The business's quarterly revenue was up 55.5% compared to the same quarter last year. On average, analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was 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 of the company's stock, valued at $6,581,655.32. This represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors have recently modified their holdings of BPMC. Crestwood Advisors Group LLC acquired a new position in Blueprint Medicines in the first quarter worth $675,000. Massachusetts Financial Services Co. MA increased its stake in shares of Blueprint Medicines by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 270,996 shares of the biotechnology company's stock valued at $23,986,000 after acquiring an additional 1,006 shares during the period. CWM LLC lifted its holdings in shares of Blueprint Medicines by 62.3% in the first quarter. CWM LLC now owns 5,321 shares of the biotechnology company's stock valued at $471,000 after buying an additional 2,042 shares during the period. Stephens Inc. AR lifted its holdings in Blueprint Medicines by 38.0% in the 1st quarter. Stephens Inc. AR now owns 5,084 shares of the biotechnology company's stock valued at $450,000 after acquiring an additional 1,400 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Blueprint Medicines by 1.5% during the first quarter. New York State Common Retirement Fund now owns 19,820 shares of the biotechnology company's stock worth $1,754,000 after buying an additional 300 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.