Blueprint Medicines (NASDAQ:BPMC) Receives “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report released on Monday morning,Benzinga reports. They currently have a $129.00 target price on the biotechnology company’s stock, down from their previous target price of $130.00.

Several other research analysts also recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Wolfe Research initiated coverage on Blueprint Medicines in a report on Tuesday, March 18th. They issued an “outperform” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, May 2nd. Scotiabank downgraded Blueprint Medicines from a “strong-buy” rating to a “hold” rating and set a $135.00 price target on the stock. in a report on Monday. Finally, Wall Street Zen upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Fifteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blueprint Medicines has a consensus rating of “Hold” and an average price target of $125.59.

Blueprint Medicines Stock Up 0.4%

BPMC opened at $128.10 on Monday. The company has a market cap of $8.27 billion, a P/E ratio of -118.61 and a beta of 0.83. The business’s 50-day moving average price is $93.96 and its 200-day moving average price is $95.39. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. Blueprint Medicines has a 12 month low of $73.04 and a 12 month high of $128.15.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million during the quarter, compared to analysts’ expectations of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The firm’s quarterly revenue was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. On average, equities analysts expect that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total transaction of $505,700.00. Following the sale, the director now directly owns 146,630 shares of the company’s stock, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the sale, the chief operating officer now directly owns 66,992 shares in the company, valued at approximately $6,816,436. The trade was a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,574 shares of company stock valued at $1,465,528. 4.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

Several large investors have recently bought and sold shares of BPMC. Headlands Technologies LLC bought a new stake in Blueprint Medicines during the 4th quarter valued at approximately $65,000. Thematics Asset Management bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $72,000. Covestor Ltd boosted its position in shares of Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 375 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Blueprint Medicines in the 1st quarter worth approximately $87,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $88,000.

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.