Blueprint Medicines Co. (NASDAQ:BPMC) Given Average Recommendation of “Moderate Buy” by Analysts

Blueprint Medicines Co. (NASDAQ:BPMC) has received a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $123.83.

BPMC has been the subject of several research analyst reports. Stephens reiterated an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Piper Sandler lifted their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th.

Insider Activity

In related news, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey W. Albers sold 15,161 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total value of $1,660,584.33. Following the completion of the transaction, the director now directly owns 152,396 shares in the company, valued at approximately $16,691,933.88. This represents a 9.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,224 shares of company stock valued at $4,541,139 in the last ninety days. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BPMC. Avoro Capital Advisors LLC bought a new stake in Blueprint Medicines in the 4th quarter worth approximately $103,356,000. Wellington Management Group LLP increased its stake in Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after acquiring an additional 729,055 shares during the last quarter. Norges Bank bought a new stake in Blueprint Medicines in the 4th quarter worth approximately $62,028,000. State Street Corp increased its stake in Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Blueprint Medicines in the 4th quarter worth approximately $31,417,000.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $96.57 on Monday. Blueprint Medicines has a one year low of $80.68 and a one year high of $121.90. The stock has a 50-day moving average of $99.54 and a 200 day moving average of $94.39. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of -89.42 and a beta of 0.62. 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 released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, sell-side analysts forecast that Blueprint Medicines will post -1.28 EPS for the current year.

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.