Blueprint Medicines Co. (NASDAQ:BPMC) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) have received a consensus rating of "Moderate Buy" from the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $91.57.

BPMC has been the subject of several recent analyst reports. Barclays upped their price target on Blueprint Medicines from $58.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 13th. Citigroup raised their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a "sell" rating in a research note on Friday, February 16th. Wedbush reiterated an "outperform" rating and issued a $110.00 price target on shares of Blueprint Medicines in a research note on Friday. JMP Securities reiterated a "market outperform" rating and issued a $114.00 price target on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Finally, HC Wainwright reiterated a "buy" rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Friday.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded down $1.76 during trading hours on Tuesday, reaching $91.34. 529,234 shares of the company traded hands, compared to its average volume of 759,405. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $101.00. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. The company has a market cap of $5.59 billion, a P/E ratio of -10.93 and a beta of 0.63. The firm has a 50-day moving average price of $90.85 and a 200 day moving average price of $79.52.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts' consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm had revenue of $71.96 million for the quarter, compared to analysts' expectations of $67.34 million. During the same period in the previous year, the firm earned ($2.65) EPS. The business's quarterly revenue was up 85.5% on a year-over-year basis. As a group, sell-side analysts predict that Blueprint Medicines will post -5.41 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Christopher K. Murray sold 5,000 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 24,495 shares in the company, valued at approximately $2,449,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Christina Rossi sold 6,070 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $550,488.30. Following the transaction, the chief operating officer now directly owns 64,306 shares in the company, valued at approximately $5,831,911.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher K. Murray sold 5,000 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the transaction, the insider now owns 24,495 shares in the company, valued at $2,449,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,289 shares of company stock worth $8,314,163. 3.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in Blueprint Medicines in the 1st quarter worth about $218,000. Principal Financial Group Inc. grew its stake in Blueprint Medicines by 331.9% in the 1st quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company's stock worth $5,945,000 after acquiring an additional 48,160 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Blueprint Medicines by 67.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,777 shares of the biotechnology company's stock worth $1,117,000 after acquiring an additional 4,745 shares in the last quarter. Peregrine Capital Management LLC grew its stake in Blueprint Medicines by 2.0% in the 1st quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company's stock worth $8,877,000 after acquiring an additional 1,810 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Blueprint Medicines by 8.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,929 shares of the biotechnology company's stock worth $3,503,000 after acquiring an additional 2,884 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.