Blueprint Medicines’ (BPMC) “Buy” Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report sent to investors on Wednesday morning,Benzinga reports.

BPMC has been the topic of a number of other reports. Wedbush reiterated an “outperform” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Stock Up 0.7 %

Blueprint Medicines stock opened at $93.19 on Wednesday. Blueprint Medicines has a fifty-two week low of $72.24 and a fifty-two week high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The firm’s 50-day simple moving average is $92.03 and its 200 day simple moving average is $97.52. The stock has a market cap of $5.92 billion, a PE ratio of -44.17 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company’s revenue was up 126.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.20) EPS. Research analysts predict that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,260 shares of company stock valued at $768,057 in the last quarter. 4.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

Several institutional investors and hedge funds have recently modified their holdings of BPMC. Amalgamated Bank grew its holdings in shares of Blueprint Medicines by 5.3% during the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 109 shares in the last quarter. Van ECK Associates Corp lifted its position in Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 131 shares during the last quarter. EFG Asset Management North America Corp. grew its stake in Blueprint Medicines by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock worth $3,008,000 after buying an additional 132 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of Blueprint Medicines by 3.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after buying an additional 176 shares during the last quarter. Finally, Clarus Wealth Advisors raised its position in shares of Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 206 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.