Blueprint Medicines (NASDAQ:BPMC) Upgraded by Wall Street Zen to "Hold" Rating

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "hold" rating in a research report issued on Friday.

Several other equities research analysts also recently commented on the stock. Citizens Jmp downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Wolfe Research downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and decreased their target price for the stock from $143.00 to $129.00 in a research report on Tuesday, June 17th. Citigroup raised shares of Blueprint Medicines from a "strong sell" rating to a "hold" rating and boosted their target price for the stock from $83.00 to $129.00 in a research report on Wednesday, June 4th. Finally, UBS Group boosted their target price on shares of Blueprint Medicines from $88.00 to $129.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Eighteen equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $128.25.

Blueprint Medicines Stock Up 0.2%

BPMC traded up $0.20 during midday trading on Friday, hitting $129.48. The company had a trading volume of 2,980,900 shares, compared to its average volume of 1,535,192. Blueprint Medicines has a 52 week low of $73.04 and a 52 week high of $129.65. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of -52.42 and a beta of 0.89. The stock's 50 day moving average price is $120.01 and its 200 day moving average price is $103.13.

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). The business had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The company's revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 earnings per share. On average, research analysts anticipate that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Percy H. Carter sold 1,051 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $128.25, for a total transaction of $134,790.75. Following the sale, the insider directly owned 53,155 shares in the company, valued at approximately $6,817,128.75. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $283,813.76. Following the sale, the insider owned 16,944 shares in the company, valued at $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 have sold 13,351 shares of company stock valued at $1,384,244 in the last three months. Insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently modified their holdings of BPMC. Avoro Capital Advisors LLC purchased a new stake in shares of Blueprint Medicines during the 4th quarter valued at approximately $103,356,000. Syquant Capital Sas purchased a new stake in shares of Blueprint Medicines during the 2nd quarter valued at approximately $103,262,000. Siren L.L.C. purchased a new stake in shares of Blueprint Medicines during the 1st quarter valued at approximately $64,273,000. Norges Bank bought a new stake in Blueprint Medicines during the 4th quarter worth approximately $62,028,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Blueprint Medicines by 86.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,302,810 shares of the biotechnology company's stock worth $115,312,000 after acquiring an additional 605,783 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.

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