Blueprint Medicines’ (BPMC) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note published on Friday,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company’s stock.

BPMC has been the subject of a number of other reports. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective for the company. Robert W. Baird boosted their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a report on Wednesday, October 30th. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Guggenheim boosted their target price on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.11.

Blueprint Medicines Trading Up 1.7 %

NASDAQ:BPMC opened at $90.18 on Friday. The company has a market cap of $5.73 billion, a P/E ratio of -42.74 and a beta of 0.59. Blueprint Medicines has a 1 year low of $63.50 and a 1 year high of $121.90. 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 stock’s fifty day moving average price is $89.67 and its two-hundred day moving average price is $98.82.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Blueprint Medicines

A number of large investors have recently bought and sold shares of the stock. Triad Wealth Partners LLC bought a new position in shares of Blueprint Medicines in the second quarter worth approximately $27,000. Covestor Ltd increased its position in shares of 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 acquiring an additional 291 shares during the period. Quarry LP purchased a new position in shares of Blueprint Medicines in the third quarter valued at about $32,000. Headlands Technologies LLC raised its stake in shares of Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 342 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Blueprint Medicines during the first quarter worth about $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.