Wells Fargo & Company Issues Pessimistic Forecast for Blueprint Medicines (NASDAQ:BPMC) Stock Price

Blueprint Medicines (NASDAQ:BPMC) had its price objective trimmed by Wells Fargo & Company from $153.00 to $151.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

BPMC has been the topic of a number of other reports. Guggenheim boosted their price target on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Barclays raised their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Robert W. Baird boosted their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley raised their price target on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.39.

Blueprint Medicines Trading Up 1.4 %

Shares of BPMC stock traded up $1.24 during trading hours on Thursday, reaching $88.75. The company’s stock had a trading volume of 59,019 shares, compared to its average volume of 692,058. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $5.62 billion, a P/E ratio of -41.47 and a beta of 0.58. The firm’s fifty day simple moving average is $88.86 and its 200 day simple moving average is $98.35. Blueprint Medicines has a one year low of $56.74 and a one year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating the consensus estimate 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 business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same quarter last year, the firm posted ($2.20) earnings per share. The company’s revenue for the quarter was up 126.5% on a year-over-year basis. Equities research analysts expect that Blueprint Medicines will post -3.82 EPS for the current year.

Insider Activity

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BPMC. Triad Wealth Partners LLC purchased a new stake in Blueprint Medicines in the second quarter valued at approximately $27,000. Covestor Ltd grew its stake in shares of 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 purchasing an additional 291 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 342 shares in the last quarter. Natixis purchased a new stake in Blueprint Medicines during the first quarter worth approximately $73,000. Finally, CWM LLC raised its holdings in Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares in 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.