Blueprint Medicines Stock Downgraded to 'Sell' by StockNews.com

On Friday, analysts at StockNews.com downgraded Blueprint Medicines (NASDAQ:BPMC) from a "hold" rating to a "sell" rating. This change comes amidst a broader evaluation of the company's performance and market conditions.

Brokerage Ratings Overview

In addition to StockNews.com, several other brokerages have recently updated their ratings on Blueprint Medicines. For instance, HC Wainwright maintained a "buy" rating with a price target of $135.00 while Needham & Company LLC also reiterated a "buy" stance with a price objective of $133.00. Wedbush raised its rating to "outperform," increasing its target from $124.00 to $128.00. JMP Securities gave a "market outperform" rating with a target at $125.00. Guggenheim retained a "buy" rating on the stock. Overall, there are mixed reviews with two analysts recommending a sell, six holding, twelve buying, and one giving a strong buy rating. Data indicates that Blueprint Medicines has an average rating of "Moderate Buy" with an average price target of around $123.83.

Current Stock Performance

The trading day on Friday saw Blueprint Medicines' stock dip by 1.3%, reaching $93.94 per share. The number of shares traded was notably higher than its usual volume, at 1,260,678 shares compared to an average of 1,044,316. The company's market capitalization stands at approximately $5.97 billion, with a PE ratio of -44.52. Over the past year, the stock has fluctuated between a low of $77.57 and a high of $121.90. Additional metrics include a debt-to-equity ratio of 1.09 and current and quick ratios of 3.32 and 3.27, respectively. The stock's moving averages are at $99.61 for the fifty-day and $94.66 for the two-hundred-day periods.

Recent Earnings Report

Blueprint Medicines disclosed its quarterly earnings on February 20, presenting earnings per share at ($0.79), which fell short of analysts’ expectations by $0.11. The company demonstrated a negative return on equity of 112.30% along with a net margin of -29.48%. Forecasts from analysts suggest that the company may report an earnings per share of -3.63 for the current year.

Insider Activity

Recent insider trading has been noted as well. For example, Ariel Hurley, an insider at Blueprint Medicines, sold 1,819 shares on December 12 at an average price of $93.26, amounting to a total of $169,639.94. This sale reduced their holdings in the company by 10.84%. Additionally, Director Jeffrey W. Albers sold 15,161 shares on January 21 at an average price of $109.53 for a total of $1,660,584.33, representing a 9.05% decrease in their ownership. In total, insiders have sold 49,851 shares valued at nearly $4.98 million over the last 90 days, with insiders owning about 4.21% of the company's stock.

Recent Changes by Institutional Investors

Several institutional investors have made moves concerning their stakes in Blueprint Medicines. Vanguard Group Inc. increased its holdings by 1.4%, now owning 6,774,884 shares valued at roughly $590.9 million after further purchases. Similarly, Price T Rowe Associates Inc. MD raised its shares by 5.4%, now owning 5,679,089 shares. Wellington Management Group LLP also increased its stake by 8.0%, and State Street Corp grew its position by 16.2%. William Blair Investment Management LLC followed suit with a 16.1% increase in its holdings.

Company Overview

Blueprint Medicines Corporation is known for its precision therapies targeting genomically defined cancers and blood disorders, both in the U.S. and internationally. The company is advancing treatments such as AYVAKIT for systemic mastocytosis and gastrointestinal stromal tumors, as well as BLU-263, which is a potent oral KIT inhibitor.

Blueprint, Medicines, Stocks