UBS Group Initiates Coverage on Blueprint Medicines (NASDAQ:BPMC)

UBS Group assumed coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued a neutral rating and a $88.00 target price on the biotechnology company’s stock.

A number of other research firms have also recently weighed in on BPMC. Morgan Stanley upped their price target on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Robert W. Baird increased their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Guggenheim increased their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Blueprint Medicines in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average price target of $118.22.

Blueprint Medicines Trading Down 0.7 %

Shares of NASDAQ:BPMC opened at $82.47 on Thursday. The company has a market capitalization of $5.16 billion, a PE ratio of -17.15 and a beta of 0.58. Blueprint Medicines has a 12-month low of $47.66 and a 12-month high of $121.90. The business has a 50 day moving average of $89.55 and a two-hundred day moving average of $98.59. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The firm had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. During the same period in the prior year, the firm posted ($2.19) earnings per share. The firm’s quarterly revenue was up 139.9% compared to the same quarter last year. As a group, analysts forecast that Blueprint Medicines will post -3.99 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares of the company’s stock, valued at $3,236,395.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Fouad Namouni sold 3,633 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by company insiders.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Blueprint Medicines by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after purchasing an additional 195,007 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after acquiring an additional 821,868 shares in the last quarter. American Century Companies Inc. increased its position in shares of Blueprint Medicines by 4.2% during the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock worth $86,519,000 after acquiring an additional 32,600 shares during the period. Millennium Management LLC raised its stake in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after acquiring an additional 529,566 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its holdings in Blueprint Medicines by 7.0% in the second quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock valued at $54,194,000 after purchasing an additional 32,694 shares during the period.

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.