Blueprint Medicines (NASDAQ:BPMC) Upgraded to Market Perform at SVB Leerink

SVB Leerink upgraded shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) from an underperform rating to a market perform rating in a research report released on Monday, MarketBeat.com reports. The brokerage currently has $97.00 price target on the biotechnology company's stock, up from their previous price target of $50.00.

BPMC has been the subject of a number of other reports. HC Wainwright lifted their target price on Blueprint Medicines from $125.00 to $135.00 and gave the company a buy rating in a research report on Friday. Needham & Company LLC reiterated a buy rating and issued a $97.00 target price on shares of Blueprint Medicines in a research note on Thursday. Piper Sandler increased their price objective on Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a report on Friday. StockNews.com raised Blueprint Medicines from a sell rating to a hold rating in a research report on Friday. Finally, Barclays upped their price objective on shares of Blueprint Medicines from $70.00 to $75.00 and gave the company an equal weight rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $100.31.

Blueprint Medicines Trading Down 0.9 %

Shares of BPMC traded down $0.94 during trading hours on Monday, reaching $106.25. 803,177 shares of the company traded hands, compared to its average volume of 778,453. The stock's fifty day moving average price is $91.77 and its 200 day moving average price is $80.95. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of -22.14 and a beta of 0.65. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $110.93.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings data 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. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company had revenue of $71.96 million during the quarter, compared to analysts' expectations of $67.34 million. During the same period in the previous year, the company earned ($2.65) EPS. The firm's quarterly revenue was up 85.5% on a year-over-year basis. Sell-side analysts forecast that Blueprint Medicines will post -5.38 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the transaction, the director now owns 176,050 shares of the company's stock, valued at $15,365,644. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Christopher K. Murray sold 621 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the transaction, the insider now owns 36,374 shares of the company's stock, valued at $3,406,425.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $15,365,644. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,123 shares of company stock worth $9,554,679. 3.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BPMC. Allspring Global Investments Holdings LLC acquired a new position in Blueprint Medicines during the 1st quarter valued at approximately $218,000. Principal Financial Group Inc. boosted its holdings in shares of Blueprint Medicines by 331.9% during the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company's stock valued at $5,945,000 after acquiring an additional 48,160 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Blueprint Medicines by 67.5% during the first 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 during the last quarter. Peregrine Capital Management LLC increased its holdings in shares of 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 during the period. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of 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 during the period.

About Blueprint Medicines

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.