Blueprint Medicines (NASDAQ:BPMC) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a research report sent to investors on Thursday.

BPMC has been the topic of several other reports. Wells Fargo & Company cut their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group began coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday. Barclays raised their price target on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, Robert W. Baird increased their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.39.

Blueprint Medicines Price Performance

Shares of BPMC stock traded up $1.19 during mid-day trading on Thursday, reaching $88.70. The company’s stock had a trading volume of 43,036 shares, compared to its average volume of 691,982. The firm’s 50-day moving average is $88.86 and its two-hundred day moving average is $98.35. The company has a market cap of $5.62 billion, a P/E ratio of -41.47 and a beta of 0.58. Blueprint Medicines has a 1-year low of $56.74 and a 1-year high of $121.90. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 118.86% and a negative net margin of 29.48%. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same quarter in the prior year, the business posted ($2.20) EPS. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. On average, research analysts predict that Blueprint Medicines will post -3.82 earnings per share for the current year.

Insider Activity at Blueprint Medicines

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

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines during the 2nd quarter worth about $27,000. Covestor Ltd lifted its position in Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 291 shares during the last quarter. Headlands Technologies LLC lifted its position in Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 342 shares during the last quarter. Natixis bought a new stake in shares of Blueprint Medicines during the first quarter worth approximately $73,000. Finally, CWM LLC grew its position in shares of Blueprint Medicines by 114.6% in the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 590 shares during the last quarter.

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.