Blueprint Medicines Co. (NASDAQ:BPMC) Receives $91.25 Consensus PT from Brokerages

Blueprint Medicines Co. (NASDAQ:BPMCGet Rating) has been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $92.19.

Several brokerages have weighed in on BPMC. Jefferies Financial Group upped their price objective on shares of Blueprint Medicines from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Stifel Nicolaus lifted their price target on shares of Blueprint Medicines from $93.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. JMP Securities restated a “buy” rating and set a $152.00 target price on shares of Blueprint Medicines in a report on Thursday, June 9th. Citigroup downgraded shares of Blueprint Medicines from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $68.00 to $41.00 in a report on Thursday, June 9th. Finally, Piper Sandler reduced their target price on shares of Blueprint Medicines from $65.00 to $59.00 in a research report on Tuesday, August 2nd.

Insider Activity at Blueprint Medicines

In related news, SVP Christopher K. Murray sold 2,500 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $60.44, for a total transaction of $151,100.00. Following the completion of the transaction, the senior vice president now owns 21,320 shares in the company, valued at approximately $1,288,580.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jeffrey W. Albers sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $70.07, for a total value of $700,700.00. Following the completion of the transaction, the director now directly owns 183,243 shares in the company, valued at $12,839,837.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Christopher K. Murray sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $60.44, for a total value of $151,100.00. Following the completion of the transaction, the senior vice president now owns 21,320 shares of the company’s stock, valued at $1,288,580.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,500 shares of company stock valued at $3,300,123. 3.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Exane Derivatives grew its stake in shares of Blueprint Medicines by 45.8% in the first quarter. Exane Derivatives now owns 567 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 178 shares in the last quarter. Van ECK Associates Corp grew its stake in Blueprint Medicines by 16.0% during the 1st quarter. Van ECK Associates Corp now owns 1,548 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 213 shares in the last quarter. Synovus Financial Corp grew its stake in Blueprint Medicines by 1.0% during the 4th quarter. Synovus Financial Corp now owns 21,405 shares of the biotechnology company’s stock worth $2,293,000 after purchasing an additional 219 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Blueprint Medicines by 50.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 684 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 230 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Blueprint Medicines by 5.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 6,183 shares of the biotechnology company’s stock worth $662,000 after acquiring an additional 312 shares in the last quarter.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $76.07 on Thursday. The company’s 50 day simple moving average is $63.06 and its 200 day simple moving average is $60.61. Blueprint Medicines has a 12 month low of $43.46 and a 12 month high of $117.86. The company has a market capitalization of $4.53 billion, a P/E ratio of -6.41 and a beta of 0.78.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.45). The firm had revenue of $36.55 million for the quarter, compared to analyst estimates of $37.61 million. Blueprint Medicines had a negative net margin of 304.41% and a negative return on equity of 45.89%. The firm’s revenue was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.86) EPS. On average, analysts anticipate that Blueprint Medicines will post -9.2 earnings per share for the current year.

About Blueprint Medicines

(Get Rating)

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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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