Blueprint Medicines (NASDAQ:BPMC) Price Target Increased to $127.00 by Analysts at Robert W. Baird

Blueprint Medicines (NASDAQ:BPMC) had its price target increased by Robert W. Baird from $112.00 to $127.00 in a report published on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the biotechnology company’s stock.

BPMC has been the topic of several other research reports. Piper Sandler boosted their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a research report on Friday, May 3rd. SVB Leerink raised Blueprint Medicines from an underperform rating to a market perform rating and raised their price target for the stock from $50.00 to $97.00 in a report on Monday, May 6th. Barclays boosted their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an equal weight rating in a research note on Monday, July 29th. JMP Securities restated a market outperform rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, June 7th. Finally, Citigroup lifted their target price on Blueprint Medicines from $65.00 to $76.00 and gave the company a sell rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines presently has an average rating of Moderate Buy and an average price target of $120.00.

Blueprint Medicines Stock Down 3.6 %

Shares of NASDAQ BPMC opened at $96.72 on Friday. The stock has a fifty day simple moving average of $108.75 and a two-hundred day simple moving average of $97.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. Blueprint Medicines has a 1-year low of $43.89 and a 1-year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative return on equity of 176.65% and a negative net margin of 56.64%. The company had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. During the same quarter in the prior year, the company earned ($2.19) EPS. The firm’s quarterly revenue was up 139.9% compared to the same quarter last year. Sell-side analysts expect that Blueprint Medicines will post -4.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Debra Durso-Bumpus sold 74,034 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the transaction, the insider now directly owns 43,763 shares in the company, valued at approximately $4,559,666.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Debra Durso-Bumpus sold 74,034 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $104.19, for a total value of $7,713,602.46. Following the completion of the sale, the insider now directly owns 43,763 shares in the company, valued at approximately $4,559,666.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider L. Becker Hewes sold 34,108 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $105.91, for a total transaction of $3,612,378.28. Following the transaction, the insider now directly owns 36,860 shares in the company, valued at approximately $3,903,842.60. The disclosure for this sale can be found here. Insiders sold a total of 130,064 shares of company stock valued at $13,716,726 over the last 90 days. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after purchasing an additional 195,007 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock valued at $592,954,000 after buying an additional 821,868 shares during the last quarter. Brown Advisory Inc. boosted its position in Blueprint Medicines by 6.1% during the 4th quarter. Brown Advisory Inc. now owns 679,920 shares of the biotechnology company’s stock valued at $62,716,000 after buying an additional 38,881 shares during the period. Norges Bank purchased a new stake in Blueprint Medicines during the 4th quarter valued at $55,893,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Blueprint Medicines by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 476,063 shares of the biotechnology company’s stock worth $43,912,000 after acquiring an additional 7,646 shares during the last quarter.

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.