Blueprint Medicines (NASDAQ:BPMC) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Tuesday morning, Marketbeat reports. The firm issued an outperform rating on the biotechnology company’s stock.

A number of other analysts also recently commented on BPMC. JPMorgan Chase & Co. boosted their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and set a $128.00 target price on shares of Blueprint Medicines in a research report on Friday, February 28th. Scotiabank started coverage on Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price target for the company. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Finally, Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines Stock Down 2.2 %

Blueprint Medicines stock opened at $88.47 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines has a 1-year low of $80.68 and a 1-year high of $121.90. The company has a market cap of $5.65 billion, a PE ratio of -81.92 and a beta of 0.58. The stock’s 50 day moving average price is $99.45 and its 200 day moving average price is $93.92.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, sell-side analysts predict that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $102.28, for a total value of $511,400.00. Following the completion of the sale, the director now owns 157,557 shares of the company’s stock, valued at $16,114,929.96. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ariel Hurley sold 2,250 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $100.00, for a total value of $225,000.00. Following the completion of the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,496,700. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,334 shares of company stock worth $3,103,512 over the last three months. 4.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently modified their holdings of BPMC. Avoro Capital Advisors LLC purchased a new stake in shares of Blueprint Medicines in the fourth quarter worth about $103,356,000. Wellington Management Group LLP boosted its holdings in Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after purchasing an additional 729,055 shares during the last quarter. Norges Bank purchased a new position in Blueprint Medicines in the fourth quarter valued at about $62,028,000. State Street Corp boosted its holdings in Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after purchasing an additional 385,818 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in Blueprint Medicines in the fourth quarter valued at about $31,417,000.

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.