Robert W. Baird Increases Blueprint Medicines (NASDAQ:BPMC) Price Target to $100.00

Blueprint Medicines (NASDAQ:BPMC) had its price target hoisted by equities researchers at Robert W. Baird from $90.00 to $100.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 25.05% from the stock’s previous close.

BPMC has been the topic of a number of other research reports. Canaccord Genuity decreased their price objective on Blueprint Medicines from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Cowen began coverage on Blueprint Medicines in a research report on Monday, March 16th. They set a “buy” rating on the stock. Wedbush reiterated an “outperform” rating on shares of Blueprint Medicines in a research report on Tuesday, March 24th. JMP Securities reduced their target price on Blueprint Medicines from $107.00 to $103.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 29th. Finally, Deutsche Bank increased their target price on Blueprint Medicines from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Blueprint Medicines has an average rating of “Buy” and a consensus price target of $96.08.

BPMC opened at $79.97 on Tuesday. The company has a quick ratio of 7.14, a current ratio of 7.17 and a debt-to-equity ratio of 0.13. Blueprint Medicines has a 52 week low of $43.29 and a 52 week high of $102.98. The business’s fifty day simple moving average is $74.45 and its 200 day simple moving average is $67.57.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported ($2.11) EPS for the quarter, missing analysts’ consensus estimates of ($2.08) by ($0.03). The company had revenue of $6.20 million for the quarter, compared to analyst estimates of $5.57 million. Blueprint Medicines had a negative net margin of 515.98% and a negative return on equity of 65.81%. The firm’s revenue was up 749.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.98) EPS. On average, equities analysts expect that Blueprint Medicines will post -8.4 EPS for the current fiscal year.

In other news, insider Ariel Hurley sold 700 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $75.00, for a total value of $52,500.00. Following the completion of the sale, the insider now owns 10,684 shares in the company, valued at $801,300. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nicholas Lydon sold 26,007 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $80.45, for a total value of $2,092,263.15. Following the completion of the sale, the director now owns 48,340 shares of the company’s stock, valued at approximately $3,888,953. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,349 shares of company stock worth $5,001,908. Company insiders own 3.81% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bourgeon Capital Management LLC bought a new stake in Blueprint Medicines during the 1st quarter valued at $29,000. Advisor Group Holdings Inc. bought a new stake in Blueprint Medicines during the 1st quarter valued at $32,000. NumerixS Investment Technologies Inc bought a new stake in Blueprint Medicines during the 4th quarter valued at $46,000. Exane Derivatives raised its stake in Blueprint Medicines by 35,300.0% during the 1st quarter. Exane Derivatives now owns 1,770 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Cutler Group LP raised its stake in Blueprint Medicines by 480.0% during the 1st quarter. Cutler Group LP now owns 1,900 shares of the biotechnology company’s stock valued at $111,000 after acquiring an additional 2,400 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

About Blueprint Medicines

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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