Blueprint Medicines Receives Downgrade from StockNews.com

Blueprint Medicines (NASDAQ:BPMC) has been downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating, as mentioned in a research report released on Friday. This indicates a shift in outlook for investors regarding the stock's performance.

Several other investment firms have also recently shared their evaluations of Blueprint Medicines. For instance, HC Wainwright maintained a "buy" rating, setting a price target of $135.00 for the shares. Similarly, Needham & Company LLC reasserted a "buy" rating with a price objective of $133.00. On the same day, Wedbush revised its target price upward from $124.00 to $128.00, while JMP Securities kept a "market outperform" rating with a price target of $125.00. Guggenheim also reaffirmed a "buy" rating for the shares.

A review of analyst ratings reveals that two analysts classify the stock as a sell, six have given it a hold rating, twelve have rated it as a buy, and one analyst has assigned a strong buy rating. According to MarketBeat, the current average rating for Blueprint Medicines stands at "Moderate Buy," with an average price target around $123.83.

Recent Trading Performance

On Friday, shares of NASDAQ BPMC decreased by 1.3%, dropping $1.25 to reach a trading value of $93.94. The trading volume was noted at 1,260,678 shares, surpassing the average trading volume of 1,044,316 shares. Currently, the company's market capitalization stands at $5.97 billion, with a PE ratio of -44.52. Over the past year, Blueprint Medicines has recorded a low of $77.57 and a peak of $121.90. Financial indicators show a debt-to-equity ratio of 1.09, a current ratio of 3.32, and a quick ratio of 3.27. The fifty-day moving average price is $99.61, while the two-hundred-day moving average is $94.66.

Recently, Blueprint Medicines reported its quarterly earnings on February 20, indicating earnings of ($0.79) per share. This was below the consensus expectation of ($0.68), reflecting challenges in financial performance. The company has displayed a negative return on equity of 112.30% and a negative net margin recorded at 29.48%. Analysts predict that the company will report earnings per share of -3.63 for the current fiscal year.

Insider Trading Activity

In related news, Ariel Hurley, an insider at Blueprint Medicines, sold 1,819 shares of the company on December 12. The average sale price was $93.26, resulting in a total transaction value of approximately $169,639.94. After this transaction, Hurley now holds around 14,967 shares valued close to $1.39 million.

Additionally, another insider, Director Jeffrey W. Albers, sold 15,161 shares on January 21, at an average price of $109.53, which totaled $1,660,584.33. Following this sale, Albers retains about 152,396 shares worth about $16.69 million. In total, insiders have sold 49,851 shares valued at approximately $4.98 million in the last three months, and they own about 4.21% of the company's stock.

Institutional Investor Activity

Institutional investors have also been active regarding their positions in Blueprint Medicines. Vanguard Group Inc. increased its stake by 1.4% during the last quarter, now owning around 6.77 million shares valued at approximately $590.91 million. Price T Rowe Associates Inc. MD raised its holdings by 5.4%, bringing its total to roughly 5.68 million shares currently valued at $495.33 million. Wellington Management Group LLP also upped its investment by 8.0%, now owning 4.28 million shares worth about $373.42 million. Other significant investors include State Street Corp and William Blair Investment Management LLC.

About Blueprint Medicines

Blueprint Medicines Corporation focuses on precision therapies, developing medications geared toward treating genomically defined cancers and blood disorders both in the U.S. and internationally. The biotechnology firm is notably working on AYVAKIT, which addresses conditions such as systemic mastocytosis and gastrointestinal stromal tumors, and BLU-263, a potent KIT inhibitor aimed at treating various mast cell disorders.

Blueprint, Medicines, Stock