Blueprint Medicines Rating Downgraded to Sell

Blueprint Medicines (NASDAQ:BPMC) has been downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating according to a report released on Friday.

Several other brokerages have also shared their perspectives on Blueprint Medicines recently. HC Wainwright affirmed a "buy" rating and set a price target of $135.00 for the company’s shares in a report published on the same day. Needham & Company LLC reiterated a "buy" rating with a price objective of $133.00 in a report on Thursday. Wedbush maintained an "outperform" rating while adjusting the target price for shares of Blueprint Medicines to $128.00, an increase from the previous target of $124.00. Meanwhile, JMP Securities reaffirmed a "market outperform" rating with a target price of $125.00 on Friday. Additionally, Guggenheim restated a "buy" rating on Wednesday.

To summarize the overall analyst rating landscape, two research analysts have rated the stock with a sell recommendation, six have given it a hold rating, twelve have assigned a buy rating, and one has issued a strong buy rating. According to MarketBeat data, the company currently holds an average rating of "Moderate Buy" with an average target price estimated at $123.83.

Stock Performance of Blueprint Medicines

On Friday, shares of NASDAQ BPMC declined by 1.3%, trading down $1.25 to reach $93.94. The trading volume for the day was recorded at 1,260,678 shares, surpassing the average volume of 1,044,316 shares. Blueprint Medicines holds a market capitalization of $5.97 billion, with a price-to-earnings (PE) ratio of -44.52 and a beta of 0.62. The stock's 52-week low and high stand at $77.57 and $121.90, respectively. The company’s debt-to-equity ratio is 1.09, while the current ratio and quick ratio are 3.32 and 3.27, respectively. The fifty-day and 200-day moving averages are $99.61 and $94.66, correspondingly.

In its latest financial disclosure, Blueprint Medicines announced quarterly earnings results on February 20th. The biotechnology firm reported earnings per share of ($0.79), which fell short of the consensus estimate of ($0.68) by $0.11. The company has also reported a negative return on equity of 112.30% and a negative net margin of 29.48%. Analysts predict that Blueprint Medicines will record an average of -3.63 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other developments within the company, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines on December 12th, fetching an average price of $93.26 per share and totaling approximately $169,639.94. Following this transaction, Hurley now holds 14,967 shares valued at about $1,395,822.42, representing a 10.84% decrease in their overall ownership. This transaction is documented in a filing with the Securities and Exchange Commission. Additionally, Director Jeffrey W. Albers sold 15,161 shares on January 21st at an average price of $109.53, totaling around $1,660,584.33. After this sale, Albers maintained a stake of 152,396 shares valued at approximately $16,691,933.88, indicating a 9.05% decrease in their position. In total, insiders have sold 49,851 shares worth approximately $4,984,696 over the past 90 days, with company insiders holding a total of 4.21% of the company’s stock.

Institutional Investor Changes in Blueprint Medicines

A number of institutional investors have adjusted their positions regarding Blueprint Medicines recently. Vanguard Group Inc. increased its stake in the company by 1.4% during the fourth quarter, now owning 6,774,884 shares valued at $590,905,000 after purchasing an additional 91,450 shares. Price T Rowe Associates Inc. MD raised its holdings by 5.4% during the same quarter, securing 5,679,089 shares worth $495,331,000 after acquiring an extra 291,822 shares. Wellington Management Group LLP boosted its stake in Blueprint Medicines by 8.0%, now holding 4,281,364 shares valued at $373,421,000 following an additional purchase of 316,754 shares during the last quarter. State Street Corp increased its holdings by 16.2% in the previous quarter, obtaining 2,765,702 shares worth $255,827,000 with a recent gain of 385,818 shares. Finally, William Blair Investment Management LLC grew its position by 16.1%, owning 1,944,695 shares worth $169,616,000 after acquiring 269,896 additional shares.

Company Profile of Blueprint Medicines

Blueprint Medicines Corporation operates as a precision therapy company, focusing on developing drugs for genomically defined cancers and blood disorders across the United States and internationally. The company is currently working on AYVAKIT, aimed at treating systemic mastocytosis (SM) and gastrointestinal stromal tumors, as well as BLU-263, an oral KIT inhibitor intended for the treatment of indolent SM and other mast cell disorders.

Blueprint, Medicines, Stock