Blueprint Medicines Co. (NASDAQ:BPMC) Given Average Rating of “Moderate Buy” by Brokerages

Blueprint Medicines Co. (NASDAQ:BPMC) has been assigned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $122.11.

A number of equities analysts recently commented on BPMC shares. Robert W. Baird lifted their price target on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday. Wells Fargo & Company dropped their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a report on Thursday. They set an “overweight” rating and a $126.00 target price on the stock.

Blueprint Medicines Stock Down 7.3 %

Shares of NASDAQ BPMC opened at $88.69 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’s 50-day moving average is $89.59 and its two-hundred day moving average is $98.86. Blueprint Medicines has a 12-month low of $62.56 and a 12-month high of $121.90. The company has a market capitalization of $5.63 billion, a PE ratio of -42.03 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results 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. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the company earned ($2.20) EPS. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. Equities analysts anticipate that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction on Thursday, October 3rd. The shares were 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 owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.21% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new position in Blueprint Medicines during the second quarter valued at $1,060,000. Comerica Bank grew its position in Blueprint Medicines by 2,582.9% during the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after purchasing an additional 10,435 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Blueprint Medicines by 27.8% in the second quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after buying an additional 13,579 shares during the last quarter. SG Americas Securities LLC grew its holdings in Blueprint Medicines by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock valued at $2,337,000 after buying an additional 9,819 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Blueprint Medicines by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after purchasing an additional 195,007 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.