Blueprint Medicines (NASDAQ:BPMC) Earns “Buy” Rating from Needham & Company LLC

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $133.00 target price on the biotechnology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 41.58% from the stock’s previous close.

BPMC has been the topic of several other reports. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. UBS Group started coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, Wedbush reiterated an “outperform” rating and issued a $124.00 price target (down previously from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Stock Down 1.3 %

NASDAQ:BPMC opened at $93.94 on Thursday. Blueprint Medicines has a 52 week low of $77.57 and a 52 week high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average is $99.61 and its two-hundred day moving average is $94.66. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of -44.52 and a beta of 0.62.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Research analysts anticipate that Blueprint Medicines will post -3.63 EPS for the current year.

Insider Transactions at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the transaction, the director now owns 157,557 shares in the company, valued at $14,143,891.89. The trade was a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the 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 sale, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at $14,569,598.40. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,851 shares of company stock worth $4,984,696. Insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of large investors have recently bought and sold shares of the company. CWM LLC raised its holdings in Blueprint Medicines by 69.2% during the third quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 765 shares in the last quarter. Creative Planning lifted its holdings in shares of Blueprint Medicines by 6.8% in the 3rd quarter. Creative Planning now owns 13,194 shares of the biotechnology company’s stock valued at $1,220,000 after buying an additional 843 shares during the period. NBC Securities Inc. boosted its stake in shares of Blueprint Medicines by 748.9% in the third quarter. NBC Securities Inc. now owns 2,725 shares of the biotechnology company’s stock valued at $252,000 after buying an additional 2,404 shares in the last quarter. Teamwork Financial Advisors LLC acquired a new position in Blueprint Medicines during the third quarter worth $250,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Blueprint Medicines by 40.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,206 shares of the biotechnology company’s stock worth $297,000 after acquiring an additional 927 shares during the period.

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.