Blueprint Medicines (NASDAQ:BPMC) Raised to “Market Perform” at Leerink Partnrs

Leerink Partnrs upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from an underperform rating to a market perform rating in a research report sent to investors on Monday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Blueprint Medicines’ FY2027 earnings at $5.34 EPS.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group increased their target price on shares of Blueprint Medicines from $121.00 to $168.00 and gave the company a buy rating in a research report on Monday. SVB Leerink raised shares of Blueprint Medicines from an underperform rating to a market perform rating and raised their target price for the stock from $50.00 to $97.00 in a research note on Monday. Needham & Company LLC restated a buy rating and issued a $97.00 price target on shares of Blueprint Medicines in a research report on Thursday, May 2nd. JMP Securities lifted their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the stock a market outperform rating in a research report on Friday. Finally, Stifel Nicolaus upped their target price on Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $100.31.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $106.25 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The firm has a market cap of $6.50 billion, a PE ratio of -22.09 and a beta of 0.65. Blueprint Medicines has a one year low of $43.89 and a one year high of $110.93. The firm has a fifty day moving average of $92.00 and a 200 day moving average of $81.38.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The business had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. During the same quarter last year, the business posted ($2.65) earnings per share. The business’s quarterly revenue was up 85.5% compared to the same quarter last year. As a group, research analysts predict that Blueprint Medicines will post -5.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the sale, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the transaction, the director now owns 176,050 shares of the company’s stock, valued at approximately $15,365,644. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,123 shares of company stock valued at $9,554,679. Company insiders own 3.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Compass Wealth Management LLC acquired a new stake in Blueprint Medicines in the 4th quarter valued at about $69,000. PNC Financial Services Group Inc. lifted its stake in Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 329 shares during the last quarter. Van ECK Associates Corp grew its holdings in Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 193 shares in the last quarter. Cutler Group LLC CA grew its holdings in Blueprint Medicines by 1,685.7% during the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 944 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Blueprint Medicines in the 4th quarter valued at approximately $95,000.

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.