Blueprint Medicines (NASDAQ:BPMC) Receives Market Outperform Rating from JMP Securities

Blueprint Medicines (NASDAQ:BPMC - Get Free Report)'s stock had its "market outperform" rating reaffirmed by research analysts at JMP Securities in a note issued to investors on Wednesday, Benzinga reports. They presently have a $114.00 price objective on the biotechnology company's stock. JMP Securities' target price points to a potential upside of 25.98% from the stock's previous close.

BPMC has been the subject of several other reports. Raymond James raised their price objective on Blueprint Medicines from $85.00 to $100.00 and gave the company a "strong-buy" rating in a research note on Friday, December 22nd. Citigroup raised their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the company a "sell" rating in a research note on Friday, February 16th. Stifel Nicolaus raised their price objective on Blueprint Medicines from $95.00 to $97.00 and gave the company a "buy" rating in a research note on Tuesday, January 9th. Needham & Company LLC reissued a "buy" rating and set a $97.00 price target on shares of Blueprint Medicines in a research note on Monday, February 26th. Finally, Wells Fargo & Company raised their price target on Blueprint Medicines from $86.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 19th. Four research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $85.43.

Blueprint Medicines Price Performance

NASDAQ BPMC traded down $1.71 during trading on Wednesday, hitting $90.49. 569,818 shares of the stock traded hands, compared to its average volume of 784,724. The company has a market capitalization of $5.54 billion, a P/E ratio of -10.82 and a beta of 0.63. The firm has a 50-day simple moving average of $88.18 and a 200-day simple moving average of $75.64. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. Blueprint Medicines has a 12-month low of $42.26 and a 12-month high of $101.00.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $0.22. The business had revenue of $71.96 million during the quarter, compared to analysts' expectations of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter last year, the business posted ($2.65) EPS. As a group, analysts predict that Blueprint Medicines will post -5.42 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 25,000 shares of Blueprint Medicines stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $81.91, for a total value of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $14,420,255.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jeffrey W. Albers sold 25,000 shares of Blueprint Medicines stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $81.91, for a total value of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $14,420,255.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. Insiders sold a total of 117,289 shares of company stock valued at $10,361,913 in the last ninety days. Corporate insiders own 3.88% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPMC. PNC Financial Services Group Inc. grew its stake in Blueprint Medicines by 63.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company's stock worth $43,000 after buying an additional 329 shares during the last quarter. Cutler Group LLC CA lifted its position in Blueprint Medicines by 1,685.7% during the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company's stock worth $50,000 after acquiring an additional 944 shares during the period. Lazard Asset Management LLC acquired a new stake in Blueprint Medicines during the 4th quarter worth about $57,000. Dark Forest Capital Management LP acquired a new stake in Blueprint Medicines during the 1st quarter worth about $63,000. Finally, Compass Wealth Management LLC acquired a new stake in Blueprint Medicines during the 4th quarter worth about $69,000.

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.