Blueprint Medicines (NASDAQ:BPMC) Raised to Hold at Citigroup

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) was upgraded by stock analysts at Citigroup from a "strong sell" rating to a "hold" rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $129.00 target price on the biotechnology company's stock, up from their prior target price of $83.00. Citigroup's price objective would indicate a potential upside of 0.90% from the company's current price.

A number of other brokerages also recently weighed in on BPMC. Citizens Jmp downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They set a "buy" rating and a $135.00 price objective for the company. TD Cowen lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. JMP Securities reiterated a "market perform" rating on shares of Blueprint Medicines in a research report on Tuesday. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $129.00 target price (down from $130.00) on shares of Blueprint Medicines in a research report on Monday, June 2nd. Seventeen 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 company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $129.35.

Blueprint Medicines Stock Performance

NASDAQ BPMC traded down $0.05 on Wednesday, hitting $127.85. 3,067,543 shares of the stock traded hands, compared to its average volume of 1,113,701. The business's fifty day moving average is $95.59 and its two-hundred day moving average is $95.88. Blueprint Medicines has a 12 month low of $73.04 and a 12 month high of $128.24. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of -118.38 and a beta of 0.84. 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 posted 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 company had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. During the same period in the previous year, the business earned $1.40 earnings per share. Blueprint Medicines's revenue was up 55.5% on a year-over-year basis. As a group, equities analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the sale, the chief operating officer now directly owns 66,992 shares in the company, valued at approximately $6,816,436. This trade represents a 3.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 approximately $14,830,158.20. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,574 shares of company stock worth $1,465,528 in the last 90 days. Insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in Blueprint Medicines in the 4th quarter valued at $65,000. Thematics Asset Management bought a new position in Blueprint Medicines in the 4th quarter valued at $72,000. Covestor Ltd grew its stake in 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Blueprint Medicines during the 1st quarter valued at $87,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines in 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.