Blueprint Medicines (NASDAQ:BPMC) Raised to Hold at StockNews.com

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Friday.

BPMC has been the topic of a number of other research reports. Stifel Nicolaus lifted their target price on Blueprint Medicines from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, April 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research note on Thursday. JMP Securities lifted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock a "market outperform" rating in a research note on Friday. Barclays upped their price target on shares of Blueprint Medicines from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Wedbush reissued an "outperform" rating and issued a $110.00 price objective on shares of Blueprint Medicines in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines presently has an average rating of "Hold" and a consensus price target of $94.87.

Blueprint Medicines Stock Performance

BPMC stock traded up $0.19 during mid-day trading on Friday, hitting $107.19. 991,766 shares of the company were exchanged, compared to its average volume of 778,131. Blueprint Medicines has a 1-year low of $43.89 and a 1-year high of $110.93. The business has a 50 day simple moving average of $91.42 and a 200-day simple moving average of $80.11. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $6.56 billion, a PE ratio of -12.82 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) 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 period in the previous year, the company posted ($2.65) earnings per share. On average, equities analysts forecast that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Activity

In other news, CEO Kate Haviland sold 12,464 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $1,130,360.16. Following the transaction, the chief executive officer now owns 153,177 shares in the company, valued at $13,891,622.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Tracey L. Mccain sold 5,194 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $471,043.86. Following the completion of the sale, the executive vice president now directly owns 60,498 shares of the company's stock, valued at approximately $5,486,563.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kate Haviland sold 12,464 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the completion of the transaction, the chief executive officer now directly owns 153,177 shares in the company, valued at $13,891,622.13. The disclosure for this sale can be found here. Insiders sold 92,289 shares of company stock worth $8,314,163 over the last three months. 3.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors have recently bought and sold shares of BPMC. Norges Bank bought a new position in Blueprint Medicines during the fourth quarter worth about $55,893,000. Polar Capital Holdings Plc grew its stake in Blueprint Medicines by 108.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company's stock valued at $52,229,000 after buying an additional 540,000 shares in the last quarter. Rock Springs Capital Management LP raised its holdings in Blueprint Medicines by 22.8% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company's stock valued at $134,855,000 after acquiring an additional 498,622 shares during the period. Avidity Partners Management LP lifted its position in shares of Blueprint Medicines by 81.1% during the third quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company's stock worth $37,745,000 after acquiring an additional 336,600 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Blueprint Medicines by 2,788.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company's stock worth $24,873,000 after acquiring an additional 260,321 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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