Blueprint Medicines Co. (NASDAQ:BPMC) Receives Average Recommendation of “Moderate Buy” from Analysts

Blueprint Medicines Co. (NASDAQ:BPMC) has been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $126.56.

BPMC has been the subject of several research analyst reports. Morgan Stanley began coverage on Blueprint Medicines in a research report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 price target for the company. Wolfe Research assumed coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They issued an “outperform” rating on the stock. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, Wedbush restated an “outperform” rating and set a $128.00 price target on shares of Blueprint Medicines in a research note on Thursday, May 1st.

Blueprint Medicines Trading Down 1.9%

NASDAQ:BPMC opened at $97.51 on Friday. Blueprint Medicines has a 52 week low of $73.04 and a 52 week high of $121.90. The firm has a 50-day moving average price of $89.12 and a two-hundred day moving average price of $94.07. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of -90.29 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The business had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The business’s revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 earnings per share. On average, equities analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other news, insider Ariel Hurley sold 3,203 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares of the company’s stock, valued at $1,692,167.40. This trade represents a 14.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the transaction, the chief operating officer now owns 66,992 shares of the company’s stock, valued at approximately $6,816,436. This trade represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,503 shares of company stock worth $1,027,931. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Blueprint Medicines in the fourth quarter valued at approximately $51,000. Headlands Technologies LLC bought a new position in Blueprint Medicines in the 4th quarter valued at $65,000. Thematics Asset Management bought a new position in Blueprint Medicines in the 4th quarter valued at $72,000. Covestor Ltd grew its position in shares of Blueprint Medicines by 62.7% during the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after purchasing an additional 375 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Blueprint Medicines in the first quarter worth $87,000.

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.