Blueprint Medicines’ (BPMC) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note issued to investors on Thursday morning,RTT News reports. Wedbush currently has a $135.00 price target on the biotechnology company’s stock.

Other analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Thursday, October 31st. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Barclays increased their target price on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Needham & Company LLC restated a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a research report on Wednesday, October 30th. Finally, Robert W. Baird upped their price target on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Trading Down 7.3 %

Shares of BPMC opened at $88.69 on Thursday. The stock’s fifty day simple moving average is $89.59 and its 200-day simple moving average is $98.91. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $5.63 billion, a PE ratio of -42.03 and a beta of 0.59. Blueprint Medicines has a 12-month low of $62.56 and a 12-month high of $121.90.

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

Insider Activity at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.21% of the stock is owned by insiders.

Institutional Trading of Blueprint Medicines

Several institutional investors and hedge funds have recently bought and sold shares of BPMC. Triad Wealth Partners LLC bought a new stake in Blueprint Medicines during the second quarter worth $27,000. Covestor Ltd increased its stake in shares of Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 291 shares during the last quarter. Quarry LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter valued at about $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 acquired a new position in Blueprint Medicines during the first quarter worth approximately $73,000.

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.