Blueprint Medicines (NASDAQ:BPMC) Rating Lowered to "Hold" at Wolfe Research

Wolfe Research downgraded shares of Blueprint Medicines (NASDAQ:BPMC - Free Report) from a strong-buy rating to a hold rating in a report published on Tuesday, MarketBeat reports.

Several other equities analysts have also commented on BPMC. Wall Street Zen raised Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Wedbush reissued a "neutral" rating and set a $129.00 price objective (up previously from $128.00) on shares of Blueprint Medicines in a research note on Monday. Scotiabank downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and set a $135.00 target price for the company. in a research note on Monday. Morgan Stanley began coverage on Blueprint Medicines in a research report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price target on the stock. Finally, Stephens lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating and reduced their price objective for the company from $150.00 to $135.00 in a research report on Tuesday. Fifteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines has an average rating of "Hold" and a consensus price target of $125.59.

Blueprint Medicines Trading Up 0.4%

NASDAQ BPMC traded up $0.50 during trading on Tuesday, hitting $128.10. The company had a trading volume of 8,923,089 shares, compared to its average volume of 1,083,617. The company's fifty day moving average is $93.17 and its 200-day moving average is $95.16. The company has a market cap of $8.27 billion, a price-to-earnings ratio of -118.61 and a beta of 0.83. 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 has a one year low of $73.04 and a one year high of $128.15.

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

Insider Buying and Selling

In related news, insider Ariel Hurley sold 2,752 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the sale, the insider now directly owns 16,944 shares in the company, valued at approximately $1,747,434.72. The trade was a 13.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $101.75, for a total transaction of $231,379.50. Following the sale, the chief operating officer now directly owns 66,992 shares of the company's stock, valued at approximately $6,816,436. This represents a 3.28% 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 over the last 90 days. Company insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in Blueprint Medicines during the fourth quarter valued at about $65,000. Thematics Asset Management bought a new position in shares of Blueprint Medicines during the 4th quarter valued at approximately $72,000. Covestor Ltd boosted its position in shares of Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after purchasing an additional 375 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Blueprint Medicines in the 1st quarter worth $87,000. Finally, Asset Management One Co. Ltd. bought a new stake in Blueprint Medicines during the 4th quarter valued at approximately $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.