Blueprint Medicines (NASDAQ:BPMC) Given “Market Outperform” Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Monday,Benzinga reports. They currently have a $125.00 target price on the biotechnology company’s stock.

BPMC has been the topic of several other reports. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Robert W. Baird upped their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Barclays raised their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Stock Up 1.7 %

Blueprint Medicines stock opened at $90.18 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The stock has a market capitalization of $5.73 billion, a PE ratio of -42.74 and a beta of 0.59. The business has a 50 day simple moving average of $89.67 and a 200-day simple moving average of $98.82. Blueprint Medicines has a 12 month low of $63.50 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) 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 net margin of 29.48% and a negative return on equity of 112.30%. The firm’s revenue was up 126.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.20) EPS. On average, analysts anticipate that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Blueprint Medicines by 23.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company’s stock valued at $1,528,000 after buying an additional 3,162 shares during the period. Geode Capital Management LLC grew its position in Blueprint Medicines by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock valued at $136,942,000 after acquiring an additional 20,703 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Blueprint Medicines by 13.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 22,557 shares of the biotechnology company’s stock worth $2,087,000 after purchasing an additional 2,741 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Blueprint Medicines by 27.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,662 shares of the biotechnology company’s stock valued at $246,000 after purchasing an additional 576 shares during the period. Finally, Zimmer Partners LP acquired a new position in shares of Blueprint Medicines in the third quarter valued at approximately $1,952,000.

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.