Blueprint Medicines (NASDAQ:BPMC) Stock Price Up 5.1% Following Analyst Upgrade

Blueprint Medicines Co. (NASDAQ:BPMCGet Free Report)’s share price was up 5.1% on Monday after Oppenheimer raised their price target on the stock from $114.00 to $125.00. Oppenheimer currently has an outperform rating on the stock. Blueprint Medicines traded as high as $117.46 and last traded at $117.43. Approximately 236,801 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 704,581 shares. The stock had previously closed at $111.70.

A number of other equities analysts have also recently commented on BPMC. Citigroup lifted their target price on shares of Blueprint Medicines from $65.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 3rd. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Stifel Nicolaus raised their price target on Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, June 7th. Finally, Barclays raised their target price on shares of Blueprint Medicines from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average target price of $112.87.

Check Out Our Latest Stock Analysis on Blueprint Medicines

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, 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 value of $190,515.92. Following the transaction, the insider now owns 14,913 shares of the company’s stock, valued at approximately $1,549,162.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 74,034 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $104.19, for a total value of $7,713,602.46. Following the completion of the sale, the insider now directly owns 43,763 shares in the company, valued at approximately $4,559,666.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ariel Hurley sold 1,834 shares of Blueprint Medicines stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total value of $190,515.92. Following the completion of the sale, the insider now owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,231 shares of company stock worth $13,547,878. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of BPMC. Covestor Ltd grew its position in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after buying an additional 291 shares during the last quarter. Headlands Technologies LLC grew its holdings in Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares during the last quarter. Compass Wealth Management LLC acquired a new position in shares of Blueprint Medicines during the fourth quarter worth $69,000. Natixis acquired a new position in shares of Blueprint Medicines during the first quarter worth $73,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares during the last quarter.

Blueprint Medicines Price Performance

The stock has a 50-day moving average price of $105.08 and a two-hundred day moving average price of $93.57. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of -24.41 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMCGet Free Report) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.32. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company had revenue of $96.12 million during the quarter, compared to analysts’ expectations of $82.58 million. As a group, equities research analysts forecast that Blueprint Medicines Co. will post -5.15 EPS for the current year.

Blueprint Medicines Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Blueprint Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines and related companies with MarketBeat.com's FREE daily email newsletter.