Blueprint Medicines’ (BPMC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $130.00 price target on the biotechnology company’s stock.

A number of other research firms also recently weighed in on BPMC. Oppenheimer upped their target price on Blueprint Medicines from $114.00 to $125.00 and gave the stock an outperform rating in a report on Monday, July 8th. Citigroup upped their target price on Blueprint Medicines from $65.00 to $76.00 and gave the stock a sell rating in a report on Friday, May 3rd. Stephens began coverage on Blueprint Medicines in a report on Tuesday, May 14th. They set an overweight rating and a $140.00 target price on the stock. JMP Securities reiterated a market outperform rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, June 7th. Finally, Barclays upped their price target on Blueprint Medicines from $75.00 to $105.00 and gave the stock an equal weight rating in a research note on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $118.33.

Blueprint Medicines Trading Down 3.0 %

Shares of NASDAQ BPMC traded down $3.04 during midday trading on Thursday, reaching $97.25. The company had a trading volume of 144,251 shares, compared to its average volume of 713,666. Blueprint Medicines has a one year low of $43.89 and a one year high of $121.90. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $108.87 and its 200-day moving average price is $96.99. The stock has a market cap of $6.09 billion, a PE ratio of -20.85 and a beta of 0.63.

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, beating analysts’ consensus estimates of ($1.28) by $0.48. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The company had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. During the same quarter in the previous year, the business earned ($2.19) EPS. Blueprint Medicines’s revenue was up 139.9% compared to the same quarter last year. On average, equities research analysts anticipate that Blueprint Medicines will post -4.67 earnings per share for the current year.

Insider Activity

In other news, insider Debra Durso-Bumpus sold 333 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $111.15, for a total transaction of $37,012.95. Following the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,864,257.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider L. Becker Hewes sold 34,108 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $105.91, for a total transaction of $3,612,378.28. Following the completion of the transaction, the insider now directly owns 36,860 shares in the company, valued at $3,903,842.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Debra Durso-Bumpus sold 333 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $111.15, for a total transaction of $37,012.95. Following the transaction, the insider now owns 43,763 shares of the company’s stock, valued at $4,864,257.45. The disclosure for this sale can be found here. Insiders have sold 130,064 shares of company stock valued at $13,716,726 over the last ninety days. 4.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in Blueprint Medicines during the 2nd quarter valued at about $27,000. Covestor Ltd grew its stake in Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 291 shares in the last quarter. Headlands Technologies LLC grew its stake in Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 342 shares in the last quarter. Natixis purchased a new stake in Blueprint Medicines during the 1st quarter valued at about $73,000. Finally, Van ECK Associates Corp grew its stake in Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 193 shares in 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.