Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $75.00

Blueprint Medicines (NASDAQ:BPMC) had its target price hoisted by Barclays from $70.00 to $75.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus increased their price target on Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, April 26th. HC Wainwright reissued a buy rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, April 26th. Piper Sandler upped their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a research report on Friday. Wedbush reissued an outperform rating and issued a $110.00 price objective on shares of Blueprint Medicines in a research report on Friday, April 26th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $100.31.

Blueprint Medicines Price Performance

BPMC stock opened at $106.25 on Friday. The stock has a 50-day moving average price of $91.77 and a two-hundred day moving average price of $80.95. The stock has a market cap of $6.50 billion, a PE ratio of -22.14 and a beta of 0.65. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The firm had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The company’s revenue was up 85.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.65) EPS. Equities analysts forecast that Blueprint Medicines will post -5.38 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 1,834 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total transaction of $190,515.92. Following the transaction, the insider now directly owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the transaction, the director now owns 176,050 shares in the company, valued at approximately $15,365,644. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ariel Hurley sold 1,834 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the transaction, the insider now owns 14,913 shares in the company, valued at approximately $1,549,162.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,123 shares of company stock valued at $9,554,679. 3.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in shares of Blueprint Medicines by 63.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 329 shares in the last quarter. Cutler Group LLC CA lifted its holdings in shares of Blueprint Medicines by 1,685.7% during the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 944 shares during the period. Compass Wealth Management LLC bought a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $69,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Blueprint Medicines by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 757 shares during the period. 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 worth $80,000 after acquiring an additional 193 shares during the period.

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.