Blueprint Medicines (NASDAQ:BPMC) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Friday morning, Benzinga reports. HC Wainwright currently has a $125.00 price target on the biotechnology company’s stock.

BPMC has been the subject of several other reports. Wedbush reaffirmed an outperform rating and set a $97.00 target price on shares of Blueprint Medicines in a report on Monday, February 5th. Needham & Company LLC restated a buy rating and set a $97.00 price objective on shares of Blueprint Medicines in a research note on Monday, February 26th. Stifel Nicolaus raised their target price on Blueprint Medicines from $95.00 to $97.00 and gave the company a buy rating in a research note on Tuesday, January 9th. Barclays boosted their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an equal weight rating in a report on Tuesday, February 13th. Finally, Citigroup increased their price objective on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $91.57.

Blueprint Medicines Stock Up 2.5 %

Shares of BPMC opened at $93.00 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $101.00. The business’s fifty day moving average price is $90.79 and its 200 day moving average price is $78.80.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The company had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. During the same period last year, the firm posted ($2.65) EPS. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. Research analysts anticipate that Blueprint Medicines will post -5.41 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the sale, the insider now directly owns 36,374 shares in the company, valued at $3,406,425.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the sale, the insider now directly owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Landsittel sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the transaction, the chief financial officer now owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock worth $8,314,163 over the last quarter. 3.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in shares of Blueprint Medicines by 1,436.4% in the 3rd quarter. SG Americas Securities LLC now owns 33,478 shares of the biotechnology company’s stock worth $1,681,000 after acquiring an additional 31,299 shares during the last quarter. Peregrine Capital Management LLC increased its stake in Blueprint Medicines by 2.1% in the 3rd quarter. Peregrine Capital Management LLC now owns 146,663 shares of the biotechnology company’s stock worth $7,365,000 after purchasing an additional 3,074 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Blueprint Medicines by 33.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 32,484 shares of the biotechnology company’s stock worth $1,631,000 after purchasing an additional 8,131 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Blueprint Medicines by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company’s stock worth $13,396,000 after buying an additional 4,127 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Blueprint Medicines by 0.9% in the third quarter. Brown Advisory Inc. now owns 641,039 shares of the biotechnology company’s stock worth $32,193,000 after buying an additional 5,843 shares during the period.

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.