Needham & Company LLC Has Lowered Expectations for Blueprint Medicines (NASDAQ:BPMC) Stock Price

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) had its price objective decreased by stock analysts at Needham & Company LLC from $133.00 to $130.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's price objective would suggest a potential upside of 48.95% from the company's current price.

Several other analysts have also recently weighed in on the company. Wolfe Research initiated coverage on Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating on the stock. Stephens restated an "overweight" rating and issued a $140.00 target price on shares of Blueprint Medicines in a research report on Thursday, January 2nd. JMP Securities reiterated a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Morgan Stanley assumed coverage on Blueprint Medicines in a report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 target price for the company. Finally, Wedbush reissued an "outperform" rating and set a $128.00 price target on shares of Blueprint Medicines in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $124.53.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded down $0.38 during midday trading on Monday, reaching $87.28. 332,943 shares of the company traded hands, compared to its average volume of 768,329. Blueprint Medicines has a 12 month low of $73.04 and a 12 month high of $121.90. The firm's fifty day moving average price is $87.57 and its two-hundred day moving average price is $93.18. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of -80.74 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. On average, equities analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Activity

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. The trade was a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the transaction, the chief operating officer now owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd bought a new position in Blueprint Medicines in the 4th quarter worth approximately $51,000. Headlands Technologies LLC purchased a new position in Blueprint Medicines during the fourth quarter valued at $65,000. Thematics Asset Management purchased a new stake in Blueprint Medicines in the 4th quarter worth $72,000. Covestor Ltd boosted its holdings in shares of Blueprint Medicines by 62.7% during the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 375 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines during the fourth quarter valued at about $88,000.

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.

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