Blueprint Medicines (NASDAQ:BPMC) Rating Reiterated by Wedbush

Wedbush reissued their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report issued on Friday, Benzinga reports. Wedbush currently has a $110.00 target price on the biotechnology company’s stock.

Several other equities analysts have also recently commented on the company. Needham & Company LLC reiterated a buy rating and set a $97.00 target price on shares of Blueprint Medicines in a research note on Friday. JMP Securities reissued a market outperform rating and set a $114.00 price objective on shares of Blueprint Medicines in a report on Wednesday, April 10th. Stifel Nicolaus increased their price target on shares of Blueprint Medicines from $95.00 to $97.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. HC Wainwright reiterated a buy rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Friday. Finally, Citigroup upped their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a research note on Friday, February 16th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $91.57.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $93.10 on Friday. The firm’s fifty day simple moving average is $90.85 and its 200 day simple moving average is $79.52. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $101.00. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of -11.14 and a beta of 0.63.

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

Insider Buying and Selling

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the transaction, the director now owns 176,050 shares of the company’s stock, valued at approximately $15,365,644. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Kate Haviland sold 12,464 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $1,130,360.16. Following the completion of the sale, the chief executive officer now owns 153,177 shares in the company, valued at $13,891,622.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the transaction, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The disclosure for this sale can be found here. Insiders sold 92,289 shares of company stock valued at $8,314,163 over the last 90 days. 3.88% 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 bought and sold shares of BPMC. Norges Bank bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $55,893,000. Polar Capital Holdings Plc increased its holdings in shares of Blueprint Medicines by 108.0% in the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after buying an additional 540,000 shares in the last quarter. Rock Springs Capital Management LP lifted its position in shares of Blueprint Medicines by 22.8% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after acquiring an additional 498,622 shares during the last quarter. Avidity Partners Management LP boosted its stake in shares of Blueprint Medicines by 81.1% during the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after acquiring an additional 336,600 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Blueprint Medicines by 2,788.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock worth $24,873,000 after acquiring an additional 260,321 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.