Blueprint Medicines (NASDAQ:BPMC) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Friday,Benzinga reports. They currently have a $135.00 target price on the biotechnology company’s stock.

Several other research firms also recently issued reports on BPMC. Guggenheim boosted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Thursday. Barclays lifted their price target on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a research report on Thursday. They set an “overweight” rating and a $126.00 target price on the stock. Finally, Robert W. Baird upped their price target on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded down $6.96 during trading hours on Friday, hitting $88.69. 1,001,074 shares of the stock traded hands, compared to its average volume of 692,935. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The firm’s 50 day moving average price is $89.59 and its 200-day moving average price is $98.86. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -42.03 and a beta of 0.59. Blueprint Medicines has a 1 year low of $62.56 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the prior year, the firm posted ($2.20) EPS. Blueprint Medicines’s quarterly revenue was up 126.5% compared to the same quarter last year. As a group, equities analysts expect that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC bought a new position in shares of Blueprint Medicines during the second quarter worth about $27,000. Covestor Ltd boosted its stake in Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 291 shares in the last quarter. Quarry LP bought a new position in Blueprint Medicines in the 3rd quarter valued at approximately $32,000. Headlands Technologies LLC lifted its stake in Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares during the last quarter. Finally, Natixis bought a new position in shares of Blueprint Medicines during the first quarter valued at $73,000.

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.