JMP Securities Reaffirms Market Outperform Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a research report issued on Wednesday,Benzinga reports. They currently have a $125.00 target price on the biotechnology company’s stock. JMP Securities’ price objective would suggest a potential upside of 16.70% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. UBS Group began coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Stephens reaffirmed an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Monday. Finally, Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.72.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded up $4.55 during mid-day trading on Wednesday, reaching $107.11. The company’s stock had a trading volume of 139,866 shares, compared to its average volume of 898,497. The company has a market capitalization of $6.80 billion, a P/E ratio of -50.76 and a beta of 0.61. The firm’s fifty day moving average price is $93.65 and its two-hundred day moving average price is $95.33. Blueprint Medicines has a 12-month low of $72.24 and a 12-month high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.20) EPS. Sell-side analysts predict that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the sale, the director now directly owns 157,557 shares in the company, valued at approximately $14,143,891.89. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the transaction, the insider now owns 14,967 shares of the company’s stock, valued at $1,395,822.42. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,720 shares of company stock valued at $2,177,846. 4.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Blueprint Medicines during the 3rd quarter valued at about $32,000. Covestor Ltd lifted its holdings in shares of Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 403 shares during the period. Quantbot Technologies LP purchased a new position in shares of Blueprint Medicines in the 3rd quarter worth $108,000. Values First Advisors Inc. bought a new stake in shares of Blueprint Medicines in the third quarter worth $122,000. Finally, CWM LLC increased its position in Blueprint Medicines by 69.2% during the third quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 765 shares during 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.