HC Wainwright Reaffirms “Buy” Rating for Blueprint Medicines (NASDAQ:BPMC)

HC Wainwright restated their buy rating on shares of Blueprint Medicines (NASDAQ:BPMC) in a research report report published on Thursday morning, AnalystRatings.com reports. HC Wainwright currently has a $100.00 target price on the biotechnology company’s stock.

A number of other research firms have also recently commented on BPMC. JMP Securities assumed coverage on shares of Blueprint Medicines in a research report on Tuesday, October 22nd. They set an outperform rating and a $106.00 price objective for the company. Piper Jaffray Companies reaffirmed a hold rating on shares of Blueprint Medicines in a research report on Monday, September 9th. Deutsche Bank cut shares of Blueprint Medicines from a buy rating to a hold rating and reduced their price objective for the stock from $110.00 to $75.00 in a research report on Monday, October 28th. ValuEngine cut shares of Blueprint Medicines from a strong-buy rating to a buy rating in a research report on Thursday. Finally, Cowen reaffirmed a buy rating on shares of Blueprint Medicines in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Blueprint Medicines currently has a consensus rating of Buy and an average target price of $104.36.

BPMC stock traded up $0.13 during mid-day trading on Thursday, hitting $73.26. 298,000 shares of the company were exchanged, compared to its average volume of 459,958. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52. The firm’s 50 day simple moving average is $73.99 and its 200 day simple moving average is $82.91. Blueprint Medicines has a 1-year low of $44.58 and a 1-year high of $102.98. The firm has a market cap of $3.46 billion, a P/E ratio of -13.59 and a beta of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.93) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.19) by $0.26. Blueprint Medicines had a negative net margin of 2,258.84% and a negative return on equity of 80.02%. The firm had revenue of $9.14 million during the quarter, compared to analysts’ expectations of $2.85 million. During the same period in the previous year, the business posted ($1.66) earnings per share. The company’s revenue for the quarter was up 734.6% compared to the same quarter last year. On average, equities research analysts predict that Blueprint Medicines will post -8.22 EPS for the current fiscal year.

In other news, insider Ariel Hurley sold 415 shares of Blueprint Medicines stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $75.00, for a total transaction of $31,125.00. Following the completion of the sale, the insider now owns 415 shares of the company’s stock, valued at $31,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines stock in a transaction on Monday, August 19th. The stock was sold at an average price of $81.73, for a total value of $1,634,600.00. Following the sale, the chief executive officer now directly owns 48,961 shares of the company’s stock, valued at approximately $4,001,582.53. The disclosure for this sale can be found here. Insiders have sold 41,340 shares of company stock valued at $3,365,796 in the last three months. Insiders own 4.02% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Blueprint Medicines by 8.1% during the second quarter. Vanguard Group Inc. now owns 4,281,362 shares of the biotechnology company’s stock worth $403,861,000 after buying an additional 321,857 shares in the last quarter. BlackRock Inc. raised its stake in Blueprint Medicines by 20.9% in the second quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock valued at $387,621,000 after purchasing an additional 710,147 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Blueprint Medicines by 9.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,681,291 shares of the biotechnology company’s stock valued at $347,256,000 after purchasing an additional 305,682 shares in the last quarter. Invesco Ltd. raised its stake in Blueprint Medicines by 19,169.3% in the second quarter. Invesco Ltd. now owns 1,801,102 shares of the biotechnology company’s stock valued at $169,897,000 after purchasing an additional 1,791,755 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in Blueprint Medicines by 6.2% in the third quarter. TimesSquare Capital Management LLC now owns 849,820 shares of the biotechnology company’s stock valued at $62,436,000 after purchasing an additional 49,800 shares in the last quarter. 99.39% of the stock is owned by institutional investors.

About Blueprint Medicines

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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