Blueprint Medicines (NASDAQ:BPMC) Given New $104.00 Price Target at Piper Sandler

Blueprint Medicines (NASDAQ:BPMC) had its price objective boosted by Piper Sandler from $78.00 to $104.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the biotechnology company’s stock.

A number of other research firms have also weighed in on BPMC. Wedbush restated an outperform rating and set a $110.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Citigroup raised their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a research report on Friday, February 16th. Stifel Nicolaus boosted their target price on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a report on Friday, April 26th. 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. Finally, Barclays lifted their price objective on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an equal weight rating in a research report on Tuesday, February 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $94.87.

Blueprint Medicines Stock Performance

BPMC stock opened at $107.19 on Friday. Blueprint Medicines has a 1-year low of $43.89 and a 1-year high of $110.93. The business has a 50-day moving average price of $91.77 and a 200 day moving average price of $80.73. The company has a market capitalization of $6.56 billion, a P/E ratio of -22.28 and a beta of 0.65. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 215.07%. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same quarter in the previous year, the business posted ($2.65) EPS. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. As a group, equities research analysts forecast that Blueprint Medicines will post -5.38 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines 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 completion of the sale, the insider now owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Christina Rossi sold 6,070 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $550,488.30. Following the completion of the transaction, the chief operating officer now directly owns 64,306 shares in the company, valued at $5,831,911.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher K. Murray sold 5,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 24,495 shares in the company, valued at $2,449,500. The disclosure for this sale can be found here. Insiders have sold a total of 92,289 shares of company stock valued at $8,314,163 in the last ninety days. Company insiders own 3.88% of the company’s stock.

Institutional Trading of Blueprint Medicines

Hedge funds have recently modified their holdings of the stock. Compass Wealth Management LLC acquired a new position in Blueprint Medicines in the fourth quarter valued at approximately $69,000. PNC Financial Services Group Inc. lifted its stake in shares of Blueprint Medicines by 63.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 329 shares during the period. Van ECK Associates Corp boosted its holdings in Blueprint Medicines by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares in the last quarter. Cutler Group LLC CA grew its position in Blueprint Medicines by 1,685.7% during the third quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 944 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Blueprint Medicines in the fourth quarter valued at $95,000.

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.