Wolfe Research Initiates Coverage on Blueprint Medicines (NASDAQ:BPMC)

Wolfe Research assumed coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Wedbush restated an “outperform” rating and set a $128.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 28th. Jefferies Financial Group began coverage on Blueprint Medicines in a research report on Monday. They set a “buy” rating and a $135.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines Trading Down 2.2 %

Shares of BPMC opened at $88.47 on Tuesday. The stock has a 50-day moving average price of $99.45 and a 200 day moving average price of $93.92. Blueprint Medicines has a one year low of $80.68 and a one year high of $121.90. The company has a market capitalization of $5.65 billion, a P/E ratio of -81.92 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Sell-side analysts forecast that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,250 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the completion of the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares of the company’s stock, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,334 shares of company stock valued at $3,103,512. 4.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in shares of Blueprint Medicines by 4.9% during the 4th quarter. California State Teachers Retirement System now owns 59,259 shares of the biotechnology company’s stock worth $5,169,000 after acquiring an additional 2,742 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Blueprint Medicines by 99.6% during the 4th quarter. Mackenzie Financial Corp now owns 14,177 shares of the biotechnology company’s stock worth $1,237,000 after acquiring an additional 7,076 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Blueprint Medicines during the 4th quarter worth $116,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Blueprint Medicines by 5.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,946 shares of the biotechnology company’s stock worth $20,928,000 after acquiring an additional 12,035 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in shares of Blueprint Medicines by 19.1% during the 4th quarter. Woodline Partners LP now owns 540,192 shares of the biotechnology company’s stock worth $47,116,000 after acquiring an additional 86,614 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.