Blueprint Medicines (NASDAQ:BPMC) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Friday, Benzinga reports. They currently have a $97.00 price target on the biotechnology company’s stock.

Other analysts have also issued reports about the company. Wedbush reaffirmed an outperform rating and issued a $97.00 price target on shares of Blueprint Medicines in a research note on Monday, February 5th. Citigroup lifted their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a research note on Friday, February 16th. Barclays upped their target price on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an equal weight rating in a report on Tuesday, February 13th. HC Wainwright reissued a buy rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Friday. Finally, Stifel Nicolaus upped their price objective on shares of Blueprint Medicines from $95.00 to $97.00 and gave the company a buy rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines currently has an average rating of Hold and a consensus target price of $91.57.

Blueprint Medicines Stock Up 2.5 %

BPMC opened at $93.00 on Friday. The firm’s fifty day simple moving average is $90.79 and its two-hundred day simple moving average is $78.80. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $101.00. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The firm had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same period last year, the company posted ($2.65) EPS. Blueprint Medicines’s quarterly revenue was up 85.5% compared to the same quarter last year. As a group, research analysts predict that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Christopher K. Murray sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now directly owns 24,495 shares in the company, valued at approximately $2,449,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock valued at $8,314,163 over the last 90 days. 3.88% of the stock is owned by insiders.

Institutional Trading of Blueprint Medicines

Several hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Blueprint Medicines by 0.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock worth $3,451,000 after purchasing an additional 145 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 193 shares during the period. Principal Financial Group Inc. grew its position in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after buying an additional 247 shares in the last quarter. Diversified Trust Co grew its position in shares of Blueprint Medicines by 2.9% during the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after buying an additional 318 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 329 shares during 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.