Blueprint Medicines (NASDAQ:BPMC) Stock Rating Lowered by Citizens Jmp

Citizens Jmp lowered shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. restated a "neutral" rating and issued a $129.00 price target (down previously from $130.00) on shares of Blueprint Medicines in a research report on Monday. HC Wainwright restated a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, May 2nd. Wedbush reaffirmed a "neutral" rating and issued a $129.00 price target (up previously from $128.00) on shares of Blueprint Medicines in a report on Monday. Morgan Stanley started coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price objective for the company. Finally, Wolfe Research downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Sixteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Blueprint Medicines currently has an average rating of "Hold" and an average target price of $129.71.

Blueprint Medicines Stock Performance

BPMC traded down $0.20 during trading on Tuesday, hitting $127.90. The stock had a trading volume of 4,442,001 shares, compared to its average volume of 1,097,046. Blueprint Medicines has a twelve month low of $73.04 and a twelve month high of $128.36. The firm has a market capitalization of $8.26 billion, a P/E ratio of -118.42 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. The company's 50-day moving average price is $93.96 and its 200 day moving average price is $95.39.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.19% and a negative return on equity of 77.49%. The firm had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same quarter in the previous year, the business earned $1.40 EPS. Blueprint Medicines's revenue for the quarter was up 55.5% on a year-over-year basis. On average, equities research analysts forecast that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 5,000 shares of the business's 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 directly owns 146,630 shares of the company's stock, valued at $14,830,158.20. The trade was a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ariel Hurley sold 2,752 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $103.13, for a total value of $283,813.76. Following the sale, the insider now owns 16,944 shares of the company's stock, valued at approximately $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. Insiders sold a total of 14,574 shares of company stock valued at $1,465,528 in the last 90 days. 4.21% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Blueprint Medicines during the fourth quarter valued at approximately $65,000. Thematics Asset Management acquired a new stake in Blueprint Medicines in the 4th quarter valued at $72,000. Covestor Ltd increased its holdings in Blueprint Medicines by 62.7% in the 4th 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 Blueprint Medicines in the first quarter valued at about $87,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Blueprint Medicines during the fourth quarter worth 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.