Blueprint Medicines (NASDAQ:BPMC) Downgraded by Citizens Jmp to "Hold"

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

BPMC has been the subject of several other research reports. 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. Wall Street Zen raised Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. HC Wainwright restated a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, May 2nd. Wedbush lowered shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and boosted their target price for the company from $128.00 to $129.00 in a report on Monday, June 2nd. Finally, 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. Seventeen research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $129.35.

Blueprint Medicines Stock Performance

BPMC stock traded down $0.05 during midday trading on Tuesday, hitting $127.85. 3,067,543 shares of the stock traded hands, compared to its average volume of 1,113,701. Blueprint Medicines has a 1-year low of $73.04 and a 1-year high of $128.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The stock's fifty day simple moving average is $95.59 and its 200-day simple moving average is $95.88. The firm has a market cap of $8.26 billion, a P/E ratio of -118.38 and a beta of 0.84.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced 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). 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 analysts' expectations of $158.31 million. During the same quarter last year, the business earned $1.40 EPS. The company's quarterly revenue was up 55.5% on a year-over-year basis. On average, analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ariel Hurley sold 2,752 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 16,944 shares of the company's stock, valued at $1,747,434.72. This trade represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,574 shares of company stock valued at $1,465,528. 4.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

Several large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Blueprint Medicines during the 4th quarter worth $65,000. Thematics Asset Management bought a new stake in shares of Blueprint Medicines during the 4th quarter worth about $72,000. Covestor Ltd lifted its stake in shares of Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after acquiring an additional 375 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Blueprint Medicines in the first quarter valued at approximately $87,000. Finally, Asset Management One Co. Ltd. bought a new position in shares of Blueprint Medicines in the fourth quarter valued at approximately $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.