HC Wainwright Increases Blueprint Medicines (NASDAQ:BPMC) Price Target to $135.00

Blueprint Medicines (NASDAQ:BPMC) had its target price hoisted by HC Wainwright from $125.00 to $135.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup boosted their price objective on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a report on Friday, February 16th. Needham & Company LLC reissued a buy rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Thursday, May 2nd. JMP Securities reaffirmed a market outperform rating and issued a $114.00 price objective on shares of Blueprint Medicines in a report on Wednesday, April 10th. Wedbush reissued an outperform rating and set a $110.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Finally, Stifel Nicolaus boosted their price target on Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines currently has an average rating of Moderate Buy and an average target price of $100.31.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $106.25 on Friday. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of -22.14 and a beta of 0.65. The stock’s 50 day moving average is $91.77 and its 200-day moving average is $80.95. 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 12 month low of $43.89 and a 12 month high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. The firm had revenue of $71.96 million for 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 quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter last year, the business earned ($2.65) EPS. Equities research analysts expect that Blueprint Medicines will post -5.38 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, EVP Tracey L. Mccain sold 5,194 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $471,043.86. Following the completion of the transaction, the executive vice president now directly owns 60,498 shares in the company, valued at $5,486,563.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Tracey L. Mccain sold 5,194 shares of Blueprint Medicines stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $471,043.86. Following the completion of the transaction, the executive vice president now owns 60,498 shares of the company’s stock, valued at $5,486,563.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ariel Hurley sold 1,834 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total value of $190,515.92. Following the sale, 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. In the last quarter, insiders have sold 104,123 shares of company stock worth $9,554,679. Insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in 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 buying an additional 329 shares during the period. Cutler Group LLC CA increased its holdings in shares of 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 acquiring an additional 944 shares in the last quarter. Compass Wealth Management LLC acquired a new position in shares of Blueprint Medicines during the fourth quarter worth approximately $69,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Blueprint Medicines by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 757 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares during the period.

About Blueprint Medicines

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.