Guggenheim Downgrades Blueprint Medicines (NASDAQ:BPMC) to Hold

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) was downgraded by equities research analysts at Guggenheim from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday, MarketBeat reports.

Several other research analysts have also issued reports on the stock. Stephens lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from $150.00 to $135.00 in a research note on Tuesday, June 3rd. 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. Needham & Company LLC lowered shares of Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 price target for the company. in a research note on Monday, June 2nd. Wedbush downgraded shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $128.00 to $129.00 in a report on Monday, June 2nd. Finally, JMP Securities reissued a "market perform" rating on shares of Blueprint Medicines in a report on Tuesday, June 3rd. Seventeen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Blueprint Medicines presently has an average rating of "Hold" and an average price target of $129.35.

Blueprint Medicines Trading Down 0.0%

BPMC traded down $0.05 during trading on Tuesday, hitting $127.85. 3,067,543 shares of the stock traded hands, compared to its average volume of 1,113,701. The firm has a market capitalization of $8.26 billion, a P/E ratio of -118.38 and a beta of 0.84. 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 firm has a 50-day moving average of $95.59 and a 200 day moving average of $95.88. Blueprint Medicines has a 12-month low of $73.04 and a 12-month high of $128.24.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted 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 return on equity of 77.49% and a negative net margin of 13.19%. The company had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. During the same period in the prior year, the business posted $1.40 earnings per share. The company's revenue for the quarter was up 55.5% on a year-over-year basis. Equities research analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Buying and Selling

In related news, insider Ariel Hurley sold 2,752 shares of the business's 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 sale, the insider now owns 16,944 shares in the company, valued at approximately $1,747,434.72. The trade was a 13.97% 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 the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $101.75, for a total transaction of $231,379.50. Following the transaction, the chief operating officer now owns 66,992 shares in the company, valued at $6,816,436. This trade represents a 3.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,574 shares of company stock worth $1,465,528. Insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

Large investors have recently made changes to their positions in the stock. Intrust Bank NA lifted its stake in Blueprint Medicines by 3.4% in the first quarter. Intrust Bank NA now owns 3,557 shares of the biotechnology company's stock worth $315,000 after acquiring an additional 118 shares during the period. Fifth Third Bancorp increased its holdings in shares of Blueprint Medicines by 4.7% during the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock valued at $285,000 after acquiring an additional 146 shares in the last quarter. Covestor Ltd increased its holdings in shares of Blueprint Medicines by 15.9% during the first quarter. Covestor Ltd now owns 1,128 shares of the biotechnology company's stock valued at $100,000 after acquiring an additional 155 shares in the last quarter. Torray Investment Partners LLC increased its holdings in shares of Blueprint Medicines by 1.1% during the first quarter. Torray Investment Partners LLC now owns 16,679 shares of the biotechnology company's stock valued at $1,476,000 after acquiring an additional 180 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Blueprint Medicines by 25.0% during the first quarter. Headlands Technologies LLC now owns 936 shares of the biotechnology company's stock valued at $83,000 after acquiring an additional 187 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.