Blueprint Medicines (NASDAQ:BPMC) Stock Rating Reaffirmed by Needham & Company LLC

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $97.00 target price on the biotechnology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 2.26% from the stock’s previous close.

A number of other analysts have also weighed in on BPMC. Barclays upped their target price on Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Citigroup upped their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a research note on Friday, February 16th. Wedbush reiterated an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a research note on Friday, April 26th. HC Wainwright reissued a “buy” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, April 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines presently has an average rating of “Hold” and a consensus target price of $91.57.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $94.86 on Thursday. The company’s 50-day simple moving average is $90.85 and its two-hundred day simple moving average is $79.82. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. Blueprint Medicines has a one year low of $43.89 and a one year high of $101.00. The company has a market capitalization of $5.81 billion, a P/E ratio of -11.35 and a beta of 0.65.

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

Insiders Place Their Bets

In related news, COO Christina Rossi sold 6,070 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $550,488.30. Following the sale, the chief operating officer now owns 64,306 shares in the company, valued at $5,831,911.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, COO Christina Rossi sold 6,070 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $550,488.30. Following the completion of the transaction, the chief operating officer now directly owns 64,306 shares of the company’s stock, valued at approximately $5,831,911.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $55,893,000. Polar Capital Holdings Plc grew its position in Blueprint Medicines by 108.0% during 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 during the period. Rock Springs Capital Management LP increased its holdings in Blueprint Medicines by 22.8% in the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after buying an additional 498,622 shares in the last quarter. Avidity Partners Management LP increased its holdings in Blueprint Medicines by 81.1% in the third quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after buying an additional 336,600 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Blueprint Medicines by 2,788.1% in the fourth 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 period.

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.