Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $119.00

Blueprint Medicines (NASDAQ:BPMC) had its target price boosted by Piper Sandler from $109.00 to $119.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Several other brokerages have also recently weighed in on BPMC. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target on the stock. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Wedbush restated an “outperform” rating and set a $124.00 price target (down previously from $135.00) on shares of Blueprint Medicines in a report on Monday, January 13th. Wells Fargo & Company decreased their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.56.

Blueprint Medicines Stock Down 0.1 %

BPMC stock opened at $114.32 on Monday. The company has a market cap of $7.26 billion, a price-to-earnings ratio of -54.18 and a beta of 0.61. The firm has a 50-day moving average of $97.07 and a two-hundred day moving average of $95.27. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm’s revenue was up 126.5% compared to the same quarter last year. During the same quarter last year, the business posted ($2.20) earnings per share. As a group, analysts forecast that Blueprint Medicines will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the transaction, the chief operating officer now owns 71,657 shares in the company, valued at approximately $6,814,580.70. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the transaction, the director now directly owns 157,557 shares of the company’s stock, valued at approximately $14,143,891.89. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,851 shares of company stock valued at $4,984,696 in the last 90 days. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in Blueprint Medicines during the 3rd quarter worth approximately $32,000. R Squared Ltd purchased a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $51,000. Covestor Ltd boosted its stake in shares of Blueprint Medicines by 206.7% during the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after buying an additional 403 shares during the period. Van ECK Associates Corp grew its holdings in shares of Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $97,000 after buying an additional 363 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Blueprint Medicines in the 3rd quarter valued at about $108,000.

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.