Jefferies Financial Group Begins Coverage on Blueprint Medicines (NASDAQ:BPMC)

Equities research analysts at Jefferies Financial Group began coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a report released on Monday. The firm set a “buy” rating and a $135.00 price target on the biotechnology company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 50.70% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Piper Sandler boosted their target price on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $128.00 target price on shares of Blueprint Medicines in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.70.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $89.58 on Monday. Blueprint Medicines has a 52-week low of $80.68 and a 52-week high of $121.90. The stock’s 50-day simple moving average is $99.54 and its 200 day simple moving average is $94.04. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of -82.94 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Research analysts forecast that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $89.77, for a total value of $1,346,550.00. Following the sale, the director now directly owns 157,557 shares of the company’s stock, valued at $14,143,891.89. This represents a 8.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares of the company’s stock, valued at approximately $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,608 shares of company stock worth $4,668,161 over the last quarter. 4.21% of the stock is owned by corporate insiders.

Institutional Trading of Blueprint Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in BPMC. Mackenzie Financial Corp grew its stake in shares of Blueprint Medicines by 99.6% in the fourth quarter. Mackenzie Financial Corp now owns 14,177 shares of the biotechnology company’s stock worth $1,237,000 after acquiring an additional 7,076 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Blueprint Medicines in the 4th quarter worth about $116,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Blueprint Medicines by 5.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,946 shares of the biotechnology company’s stock valued at $20,928,000 after purchasing an additional 12,035 shares during the last quarter. Woodline Partners LP increased its stake in Blueprint Medicines by 19.1% during the 4th quarter. Woodline Partners LP now owns 540,192 shares of the biotechnology company’s stock valued at $47,116,000 after purchasing an additional 86,614 shares in the last quarter. Finally, Zimmer Partners LP raised its holdings in Blueprint Medicines by 59.5% in the fourth quarter. Zimmer Partners LP now owns 33,650 shares of the biotechnology company’s stock worth $2,935,000 after buying an additional 12,550 shares during 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.