Blueprint Medicines (NASDAQ:BPMC) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Blueprint Medicines (NASDAQ:BPMC) from a hold rating to a sell rating in a report released on Thursday morning.

Several other analysts have also weighed in on the company. UBS Group started coverage on Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Barclays upped their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Wells Fargo & Company reduced their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday. Oppenheimer boosted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, Guggenheim raised their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.39.

Blueprint Medicines Stock Up 3.6 %

Blueprint Medicines stock opened at $90.70 on Thursday. Blueprint Medicines has a 52 week low of $56.74 and a 52 week high of $121.90. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of -42.99 and a beta of 0.58. The company’s 50-day moving average price is $88.79 and its two-hundred day moving average price is $98.39. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 118.86%. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter last year, the business earned ($2.20) earnings per share. On average, analysts expect that Blueprint Medicines will post -3.82 EPS for the current fiscal year.

Insider Activity

In related news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently added to or reduced their stakes in BPMC. Triad Wealth Partners LLC bought a new stake in Blueprint Medicines in the second quarter worth approximately $27,000. Covestor Ltd lifted its stake in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares in the last quarter. Natixis acquired a new position in Blueprint Medicines during the first quarter worth $73,000. Finally, CWM LLC raised its holdings in Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 590 shares in the last quarter.

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.