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

Needham & Company LLC restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a report released on Thursday, Benzinga reports. Needham & Company LLC currently has a $130.00 price target on the biotechnology company’s stock.

BPMC has been the subject of several other research reports. Leerink Partnrs upgraded Blueprint Medicines from an underperform rating to a market perform rating in a report on Monday, May 6th. Stifel Nicolaus boosted their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, April 26th. SVB Leerink upgraded Blueprint Medicines from an underperform rating to a market perform rating and boosted their price objective for the company from $50.00 to $97.00 in a report on Monday, May 6th. Piper Sandler lifted their target price on Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Finally, StockNews.com raised Blueprint Medicines from a sell rating to a hold rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines has an average rating of Moderate Buy and an average price target of $118.33.

Blueprint Medicines Trading Down 3.0 %

Shares of BPMC traded down $3.04 during mid-day trading on Thursday, reaching $97.25. 144,251 shares of the company were exchanged, compared to its average volume of 713,666. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $121.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The stock has a market capitalization of $6.09 billion, a PE ratio of -20.85 and a beta of 0.63. The business has a 50 day simple moving average of $108.87 and a two-hundred day simple moving average of $96.99.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.48. The business had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The firm’s revenue for the quarter was up 139.9% on a year-over-year basis. During the same period in the previous year, the company posted ($2.19) earnings per share. On average, analysts predict that Blueprint Medicines will post -4.67 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 333 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $111.15, for a total value of $37,012.95. Following the completion of 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 SEC, which is accessible through the SEC website. In other news, insider Percy H. Carter sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total value of $420,520.00. Following the completion of the sale, the insider now owns 41,895 shares in the company, valued at approximately $4,404,421.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Debra Durso-Bumpus sold 333 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $111.15, for a total transaction of $37,012.95. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,864,257.45. The disclosure for this sale can be found here. Insiders sold a total of 130,064 shares of company stock valued at $13,716,726 over the last three months. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of Blueprint Medicines by 331.9% in the 1st quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock worth $5,945,000 after buying an additional 48,160 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $3,692,000. Susquehanna Fundamental Investments LLC purchased a new stake in Blueprint Medicines in the 1st quarter worth $474,000. Vanguard Group Inc. increased its holdings in Blueprint Medicines by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock worth $564,045,000 after acquiring an additional 147,827 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new stake in Blueprint Medicines in the 4th quarter worth $2,212,000.

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.