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

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $133.00 target price on the biotechnology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 65.84% from the company’s previous close.

Several other analysts also recently weighed in on the company. StockNews.com downgraded Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 price objective for the company. Scotiabank started coverage on shares of Blueprint Medicines in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 target price on the stock. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.95.

Blueprint Medicines Trading Down 1.8 %

BPMC opened at $80.20 on Tuesday. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of -74.26 and a beta of 0.75. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines has a twelve month low of $76.50 and a twelve month high of $121.90. The company has a 50-day simple moving average of $94.84 and a 200 day simple moving average of $93.95.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Analysts predict that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines 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 sale, the insider now directly owns 14,967 shares in the company, valued at approximately $1,496,700. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares in the company, valued at $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. Over the last 90 days, insiders have sold 31,608 shares of company stock worth $3,319,587. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several hedge funds have recently added to or reduced their stakes in BPMC. Quarry LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter worth approximately $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines in the 4th quarter worth approximately $51,000. Headlands Technologies LLC purchased a new position in Blueprint Medicines during the fourth quarter worth about $65,000. Thematics Asset Management purchased a new position in Blueprint Medicines in the fourth quarter worth $72,000. Finally, Covestor Ltd boosted its position in Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 375 shares during the period.

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.