Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $130.00

Blueprint Medicines (NASDAQ:BPMC) had its price target increased by equities research analysts at Stifel Nicolaus from $120.00 to $130.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 39.78% from the company’s current price.

A number of other research analysts have also weighed in on BPMC. Wedbush restated an “outperform” rating and issued a $110.00 price objective on shares of Blueprint Medicines in a report on Friday. JMP Securities reissued a “market outperform” rating and set a $114.00 price target on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Barclays boosted their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Friday. Finally, Citigroup boosted their price target on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.57.

Blueprint Medicines Trading Up 2.5 %

Shares of BPMC stock opened at $93.00 on Friday. The stock’s fifty day moving average is $90.79 and its two-hundred day moving average is $79.00. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. The firm has a market capitalization of $5.69 billion, a P/E ratio of -11.12 and a beta of 0.63. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter last year, the firm posted ($2.65) EPS. Research analysts expect that Blueprint Medicines will post -5.41 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the sale, the insider now directly owns 36,374 shares in the company, valued at approximately $3,406,425.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the sale, the insider now directly owns 36,374 shares in the company, valued at approximately $3,406,425.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher K. Murray sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the sale, the insider now owns 24,495 shares in the company, valued at $2,449,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,289 shares of company stock worth $8,314,163. Company insiders own 3.88% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of BPMC. SG Americas Securities LLC increased its stake in Blueprint Medicines by 1,436.4% during the third quarter. SG Americas Securities LLC now owns 33,478 shares of the biotechnology company’s stock worth $1,681,000 after purchasing an additional 31,299 shares during the period. Peregrine Capital Management LLC increased its stake in Blueprint Medicines by 2.1% during the third quarter. Peregrine Capital Management LLC now owns 146,663 shares of the biotechnology company’s stock worth $7,365,000 after purchasing an additional 3,074 shares during the period. Harbor Capital Advisors Inc. increased its stake in Blueprint Medicines by 33.4% during the third quarter. Harbor Capital Advisors Inc. now owns 32,484 shares of the biotechnology company’s stock worth $1,631,000 after purchasing an additional 8,131 shares during the period. Bank of New York Mellon Corp increased its stake in Blueprint Medicines by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company’s stock worth $13,396,000 after purchasing an additional 4,127 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Blueprint Medicines by 0.9% during the third quarter. Brown Advisory Inc. now owns 641,039 shares of the biotechnology company’s stock worth $32,193,000 after buying an additional 5,843 shares during the period.

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.