Blueprint Medicines (NASDAQ:BPMC) Now Covered by Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $135.00 price target on the biotechnology company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 50.70% from the stock’s current price.

A number of other brokerages have also commented on BPMC. Stephens reissued an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. StockNews.com lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.70.

Blueprint Medicines Trading Down 0.3 %

Shares of Blueprint Medicines stock opened at $89.58 on Monday. The firm has a market capitalization of $5.72 billion, a PE ratio of -82.94 and a beta of 0.58. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm’s 50 day moving average is $99.54 and its 200 day moving average is $94.04. Blueprint Medicines has a 1 year low of $80.68 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results 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 return on equity of 77.49% and a negative net margin of 13.19%. Equities research analysts forecast that Blueprint Medicines will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $95.91, for a total transaction of $218,099.34. Following the transaction, the chief operating officer now directly owns 69,383 shares in the company, valued at approximately $6,654,523.53. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the transaction, the director now directly owns 152,396 shares in the company, valued at $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 sold a total of 46,608 shares of company stock worth $4,668,161 over the last quarter. 4.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC bought a new stake in Blueprint Medicines during the fourth quarter worth $103,356,000. Wellington Management Group LLP increased its position in shares of Blueprint Medicines by 22.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after purchasing an additional 729,055 shares during the last quarter. Norges Bank bought a new stake in shares of Blueprint Medicines during the 4th quarter worth $62,028,000. State Street Corp boosted its holdings in shares of 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 buying an additional 385,818 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Blueprint Medicines during the fourth quarter valued at about $31,417,000.

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.