Blueprint Medicines (NASDAQ:BPMC) Rating Increased to Market Perform at Leerink Partnrs

Leerink Partnrs upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from an underperform rating to a market perform rating in a research report released on Monday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Blueprint Medicines’ Q2 2024 earnings at ($1.10) EPS, Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($3.82) EPS, FY2025 earnings at $1.71 EPS, FY2026 earnings at $4.42 EPS and FY2027 earnings at $5.34 EPS.

Several other analysts have also recently issued reports on BPMC. StockNews.com raised Blueprint Medicines from a sell rating to a hold rating in a research note on Friday, May 3rd. The Goldman Sachs Group boosted their target price on Blueprint Medicines from $121.00 to $168.00 and gave the company a buy rating in a research note on Monday. Stifel Nicolaus lifted their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, April 26th. SVB Leerink upgraded shares of Blueprint Medicines from an underperform rating to a market perform rating and upped their price objective for the stock from $50.00 to $97.00 in a report on Monday. Finally, Citigroup lifted their target price on shares of Blueprint Medicines from $65.00 to $76.00 and gave the company a sell rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $100.31.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $108.78 on Monday. The stock has a market capitalization of $6.66 billion, a P/E ratio of -22.62 and a beta of 0.65. Blueprint Medicines has a one year low of $43.89 and a one year high of $110.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The business’s 50 day simple moving average is $92.44 and its two-hundred day simple moving average is $82.00.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The firm’s revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.65) EPS. Analysts forecast that Blueprint Medicines will post -5.38 EPS for the current year.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 1,834 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the transaction, the insider now owns 14,913 shares of the company’s stock, valued at approximately $1,549,162.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Michael Landsittel sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now owns 47,286 shares in the company, valued at $4,965,030. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ariel Hurley sold 1,834 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the transaction, the insider now owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The disclosure for this sale can be found here. Insiders have sold a total of 104,123 shares of company stock valued at $9,554,679 in the last ninety days. 3.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently modified their holdings of BPMC. Readystate Asset Management LP purchased a new stake in shares of Blueprint Medicines during the fourth quarter valued at $3,692,000. American Century Companies Inc. boosted its holdings in shares of Blueprint Medicines by 5.2% during the 3rd quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock valued at $33,696,000 after acquiring an additional 33,243 shares during the last quarter. Diversified Trust Co grew its stake in shares of Blueprint Medicines by 2.9% in the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after acquiring an additional 318 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Blueprint Medicines by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 757 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its position in Blueprint Medicines by 17.4% during the third quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock valued at $8,371,000 after purchasing an additional 24,693 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.