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

Needham & Company LLC reiterated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Friday morning,Benzinga reports. They currently have a $135.00 target price on the biotechnology company’s stock.

A number of other equities analysts also recently weighed in on BPMC. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. UBS Group started coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. Robert W. Baird raised their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.11.

Blueprint Medicines Trading Up 1.7 %

Blueprint Medicines stock opened at $90.18 on Friday. 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 firm has a 50-day moving average of $89.67 and a 200-day moving average of $98.82. The company has a market cap of $5.73 billion, a price-to-earnings ratio of -42.74 and a beta of 0.59. Blueprint Medicines has a one year low of $63.50 and a one year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million during 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 business’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.20) earnings per share. On average, equities analysts expect that Blueprint Medicines will post -3.61 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its holdings in shares of Blueprint Medicines by 5.3% during the 2nd quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 109 shares in the last quarter. Van ECK Associates Corp grew its stake in Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after buying an additional 131 shares in the last quarter. EFG Asset Management North America Corp. increased its holdings in Blueprint Medicines by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after buying an additional 132 shares during the period. Pallas Capital Advisors LLC increased its holdings in Blueprint Medicines by 3.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after buying an additional 176 shares during the period. Finally, US Bancorp DE raised its position in shares of Blueprint Medicines by 5.2% in the 1st quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 183 shares in 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.