Wolfe Research Begins Coverage on Blueprint Medicines (NASDAQ:BPMC)

Equities researchers at Wolfe Research initiated coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating on the biotechnology company’s stock.

Other analysts have also issued reports about the stock. Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Scotiabank assumed coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.70.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $92.14 on Tuesday. Blueprint Medicines has a fifty-two week low of $80.68 and a fifty-two week high of $121.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The company has a 50 day moving average price of $99.59 and a 200 day moving average price of $94.03. The stock has a market capitalization of $5.89 billion, a P/E ratio of -85.31 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) 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 EPS for the current year.

Insider Activity at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the sale, the director now owns 157,557 shares in the company, valued at $14,143,891.89. This represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the transaction, the chief executive officer now owns 149,378 shares in the company, valued at approximately $16,467,430.72. This represents a 0.96 % 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 valued at $4,668,161 in the last three months. 4.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BPMC. Torray Investment Partners LLC lifted its holdings in shares of Blueprint Medicines by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock worth $1,439,000 after purchasing an additional 186 shares during the period. Sherbrooke Park Advisers LLC raised its position in Blueprint Medicines by 8.4% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company’s stock worth $294,000 after buying an additional 261 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after acquiring an additional 265 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Blueprint Medicines by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock worth $580,000 after acquiring an additional 283 shares during the period. Finally, Pitcairn Co. raised its holdings in Blueprint Medicines by 2.8% during the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock worth $925,000 after purchasing an additional 293 shares in the last quarter.

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.