Blueprint Medicines (NASDAQ:BPMC) PT Raised to $168.00

Blueprint Medicines (NASDAQ:BPMC) had its price target boosted by analysts at The Goldman Sachs Group from $121.00 to $168.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 54.77% from the stock’s previous close.

A number of other research firms have also commented on BPMC. Stifel Nicolaus upped their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, April 26th. HC Wainwright upped their price target on shares of Blueprint Medicines from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Barclays boosted their price objective on Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $110.00 price target on shares of Blueprint Medicines in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.31.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $108.55 on Monday. The company’s 50 day moving average price is $92.17 and its two-hundred day moving average price is $81.81. The firm has a market capitalization of $6.64 billion, a P/E ratio of -22.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.04) by $0.22. The business had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The firm’s revenue was up 85.5% compared to the same quarter last year. During the same period last year, the company earned ($2.65) EPS. On average, equities analysts forecast that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, CFO Michael Landsittel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now owns 47,286 shares in the company, valued at $4,965,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blueprint Medicines news, CFO Michael Landsittel sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,965,030. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,834 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the sale, the insider now owns 14,913 shares of the company’s stock, valued at approximately $1,549,162.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,123 shares of company stock worth $9,554,679. Insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Blueprint Medicines during the 4th quarter valued at $55,893,000. Polar Capital Holdings Plc raised its position in shares of Blueprint Medicines by 108.0% in the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after buying an additional 540,000 shares in the last quarter. Rock Springs Capital Management LP boosted its stake in Blueprint Medicines by 22.8% during the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after buying an additional 498,622 shares during the period. Avidity Partners Management LP increased its stake in Blueprint Medicines by 81.1% in the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after acquiring an additional 336,600 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Blueprint Medicines by 2,788.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock valued at $24,873,000 after acquiring an additional 260,321 shares in the last quarter.

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.