Blueprint Medicines (NASDAQ:BPMC) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Blueprint Medicines (NASDAQ:BPMC) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $100.00 price target on the biotechnology company’s stock.

Other research analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a research note on Thursday, February 13th. Piper Sandler upped their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Scotiabank started coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price objective on the stock. Finally, StockNews.com downgraded Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.95.

Blueprint Medicines Trading Down 2.2 %

Blueprint Medicines stock opened at $88.47 on Thursday. Blueprint Medicines has a 52-week low of $80.68 and a 52-week high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of -81.92 and a beta of 0.58. The firm has a 50-day moving average price of $99.45 and a two-hundred day moving average price of $93.92.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (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%. Sell-side analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. This represents a 14.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $102.28, for a total transaction of $511,400.00. Following the transaction, the director now owns 157,557 shares in the company, valued at approximately $16,114,929.96. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,334 shares of company stock worth $3,103,512 over the last ninety days. 4.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in shares of Blueprint Medicines by 4.9% in the 4th quarter. California State Teachers Retirement System now owns 59,259 shares of the biotechnology company’s stock valued at $5,169,000 after purchasing an additional 2,742 shares during the period. Mackenzie Financial Corp increased its stake in Blueprint Medicines by 99.6% in the 4th quarter. Mackenzie Financial Corp now owns 14,177 shares of the biotechnology company’s stock valued at $1,237,000 after buying an additional 7,076 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Blueprint Medicines in the 4th quarter worth approximately $116,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 buying an additional 12,035 shares during the period. Finally, Woodline Partners LP grew its holdings in shares of 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 acquiring an additional 86,614 shares in 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.