Stephens Reaffirms “Overweight” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “overweight” rating reaffirmed by Stephens in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $140.00 price target on the biotechnology company’s stock. Stephens’ target price suggests a potential upside of 58.46% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company cut their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.33.

Blueprint Medicines Stock Up 1.3 %

Shares of Blueprint Medicines stock opened at $88.35 on Thursday. The business’s fifty day moving average price is $93.04 and its two-hundred day moving average price is $96.03. The company has a market capitalization of $5.61 billion, a P/E ratio of -41.87 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines has a 1-year low of $72.24 and a 1-year high of $121.90.

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

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the transaction, the chief operating officer now owns 71,657 shares of the company’s stock, valued at $6,814,580.70. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 23,720 shares of company stock worth $2,177,846 over the last three months. Company insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Blueprint Medicines during the third quarter worth approximately $32,000. Covestor Ltd raised its holdings in Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares during the period. Quantbot Technologies LP acquired a new stake in Blueprint Medicines during the 3rd quarter worth $108,000. Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 13.3% during the 2nd 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 in the last quarter. Finally, Values First Advisors Inc. bought a new position in Blueprint Medicines in the third quarter valued at approximately $122,000.

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.