Blueprint Medicines’ (BPMC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Friday, Benzinga reports. Needham & Company LLC currently has a $97.00 price target on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus raised their price objective on Blueprint Medicines from $95.00 to $97.00 and gave the company a buy rating in a research report on Tuesday, January 9th. Barclays boosted their price objective on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an equal weight rating in a research note on Tuesday, February 13th. Wedbush reaffirmed an outperform rating and set a $97.00 target price on shares of Blueprint Medicines in a research note on Monday, February 5th. Citigroup boosted their price target on Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a research report on Friday, February 16th. Finally, JMP Securities reaffirmed a market outperform rating and set a $114.00 price objective on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines currently has an average rating of Hold and an average target price of $91.57.

Blueprint Medicines Stock Up 2.5 %

NASDAQ:BPMC opened at $93.00 on Friday. The company has a 50-day moving average price of $90.79 and a 200-day moving average price of $78.80. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same period last year, the business posted ($2.65) earnings per share. Blueprint Medicines’s quarterly revenue was up 85.5% compared to the same quarter last year. On average, research analysts expect that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In related news, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 24,495 shares in the company, valued at $2,449,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the sale, the insider now owns 24,495 shares in the company, valued at approximately $2,449,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock worth $8,314,163 in the last 90 days. 3.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of BPMC. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Blueprint Medicines by 0.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock worth $3,451,000 after purchasing an additional 145 shares in the last quarter. Van ECK Associates Corp grew its holdings in Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 193 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after buying an additional 247 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Blueprint Medicines by 2.9% in the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after buying an additional 318 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 329 shares during the last quarter.

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.