By otakuyassine3@gmail.com 
Wedbush reaffirmed their outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC – Free Report) in a research report report published on Monday morning, Marketbeat.com reports. They currently have a $124.00 price target on the biotechnology company’s stock, down from their prior price target of $135.00.
Several other research firms have also recently weighed in on BPMC. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Monday, December 9th. Stephens reiterated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. UBS Group began coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.72.
View Our Latest Report on BPMC
Blueprint Medicines Price Performance
Blueprint Medicines stock opened at $104.89 on Monday. The firm has a market capitalization of $6.66 billion, a P/E ratio of -49.71 and a beta of 0.61. Blueprint Medicines has a 1 year low of $72.24 and a 1 year high of $121.90. The business has a 50-day moving average of $93.75 and a 200-day moving average of $95.29. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.
Blueprint Medicines (NASDAQ:BPMC – Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.20) EPS. On average, equities analysts anticipate that Blueprint Medicines will post -3.68 EPS for the current year.
Insider Transactions at Blueprint Medicines
In other news, insider Ariel Hurley sold 1,819 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the sale, the insider now owns 14,967 shares in the company, valued at $1,395,822.42. This represents a 10.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the sale, the chief executive officer now owns 150,824 shares in the company, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,970 shares of company stock worth $2,914,246 in the last 90 days. Corporate insiders own 4.21% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $32,000. Covestor Ltd increased its holdings in shares of Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 403 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $108,000. Values First Advisors Inc. acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $122,000. Finally, CWM LLC increased its holdings in shares of Blueprint Medicines by 69.2% during the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 765 shares during the last quarter.
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.
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