Blueprint Medicines (NASDAQ:BPMC) Rating Increased to Hold at Citigroup

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) was upgraded by research analysts at Citigroup from a "strong sell" rating to a "hold" rating in a report released on Wednesday, Marketbeat reports. The brokerage currently has a $129.00 price objective on the biotechnology company's stock, up from their previous price objective of $83.00. Citigroup's target price would indicate a potential upside of 0.86% from the stock's current price.

A number of other brokerages have also issued reports on BPMC. Jefferies Financial Group started 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. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $129.00 target price (down previously from $130.00) on shares of Blueprint Medicines in a research note on Monday. Needham & Company LLC lowered shares of Blueprint Medicines from a "moderate buy" rating to a "hold" rating and set a $130.00 target price for the company. in a research note on Monday. Citizens Jmp lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, JMP Securities reiterated a "market perform" rating on shares of Blueprint Medicines in a research note on Tuesday. Sixteen 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $129.71.

Blueprint Medicines Stock Down 0.2%

Shares of BPMC traded down $0.20 during mid-day trading on Wednesday, reaching $127.90. 4,442,001 shares of the stock traded hands, compared to its average volume of 1,099,582. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of -118.42 and a beta of 0.83. The stock has a fifty day simple moving average of $93.96 and a 200 day simple moving average of $95.39. Blueprint Medicines has a 12-month low of $73.04 and a 12-month high of $128.36. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $149.41 million for the quarter, compared to analysts' expectations of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The company's revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 EPS. Sell-side analysts expect that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the sale, the chief operating officer now directly owns 66,992 shares in the company, valued at approximately $6,816,436. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total value of $505,700.00. Following the sale, the director now owns 146,630 shares in the company, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,574 shares of company stock valued at $1,465,528 over the last 90 days. 4.21% of the stock is currently owned by company insiders.

Institutional Trading of Blueprint Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Blueprint Medicines by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock worth $590,905,000 after buying an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Blueprint Medicines by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock valued at $495,331,000 after purchasing an additional 291,822 shares during the period. Wellington Management Group LLP increased its holdings in shares of Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after purchasing an additional 316,754 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock valued at $169,616,000 after purchasing an additional 269,896 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Blueprint Medicines by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock valued at $129,996,000 after purchasing an additional 9,914 shares during the period.

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.