Blueprint Medicines’ (BPMC) “Overweight” Rating Reiterated at Stephens

Stephens reiterated their overweight rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report published on Thursday morning,Benzinga reports. Stephens currently has a $140.00 price objective on the biotechnology company’s stock.

BPMC has been the topic of a number of other research reports. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. UBS Group started coverage on Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $88.35 on Thursday. The stock has a market cap of $5.61 billion, a PE ratio of -41.87 and a beta of 0.61. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average is $93.04 and its 200 day moving average is $95.96. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company’s quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.20) earnings per share. Research analysts anticipate that Blueprint Medicines will post -3.68 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $95.91, for a total value of $218,099.34. Following the sale, the chief operating officer now directly owns 69,383 shares in the company, valued at approximately $6,654,523.53. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,720 shares of company stock worth $2,177,846 over the last 90 days. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors have recently bought and sold shares of BPMC. Exome Asset Management LLC bought a new stake in Blueprint Medicines during the third quarter worth approximately $3,395,000. Franklin Resources Inc. raised its stake in shares of Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after buying an additional 265 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Blueprint Medicines by 4.0% in the third quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company’s stock valued at $2,224,000 after buying an additional 922 shares during the period. Sanctuary Advisors LLC bought a new position in Blueprint Medicines during the third quarter valued at about $202,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Blueprint Medicines by 23.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company’s stock worth $1,528,000 after acquiring an additional 3,162 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.