Stephens Downgrades Blueprint Medicines (NASDAQ:BPMC) to Hold

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) was downgraded by analysts at Stephens from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, MarketBeat.com reports. They presently have a $135.00 price objective on the biotechnology company's stock, down from their previous price objective of $150.00. Stephens' price target points to a potential upside of 5.59% from the company's previous close.

A number of other brokerages have also recently weighed in on BPMC. Wolfe Research started coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They set an "outperform" rating for the company. JMP Securities reiterated a "market outperform" rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a "buy" rating and a $135.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, May 2nd. Finally, Wedbush downgraded shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and upped their target price for the stock from $128.00 to $129.00 in a research note on Monday. Seventeen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $129.35.

Blueprint Medicines Trading Down 0.0%

Blueprint Medicines stock traded down $0.05 during midday trading on Tuesday, hitting $127.85. 3,067,543 shares of the stock were exchanged, compared to its average volume of 1,110,342. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $128.24. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of -118.38 and a beta of 0.83. The stock's 50-day simple moving average is $95.59 and its 200 day simple moving average is $95.88. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The company had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. During the same quarter in the prior year, the business earned $1.40 earnings per share. Blueprint Medicines's revenue was up 55.5% on a year-over-year basis. On average, equities analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Buying and Selling

In other news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction dated 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 directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This represents a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ariel Hurley sold 2,752 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $103.13, for a total value of $283,813.76. Following the transaction, the insider now directly owns 16,944 shares of the company's stock, valued at approximately $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,574 shares of company stock valued at $1,465,528 in the last three months. 4.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Blueprint Medicines during the 4th quarter worth about $65,000. Thematics Asset Management acquired a new position in shares of Blueprint Medicines during the 4th quarter worth about $72,000. Covestor Ltd boosted its position in shares of Blueprint Medicines by 62.7% during the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after acquiring an additional 375 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Blueprint Medicines during the 1st quarter worth about $87,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $88,000.

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.