Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) Target Price at $122.11

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $122.11.

A number of equities research analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective for the company. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, UBS Group initiated coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company.

Blueprint Medicines Price Performance

BPMC stock opened at $93.19 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines has a one year low of $72.24 and a one year high of $121.90. The stock has a market cap of $5.92 billion, a PE ratio of -44.17 and a beta of 0.59. The firm has a 50 day simple moving average of $92.03 and a two-hundred day simple moving average of $97.47.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business’s quarterly revenue was up 126.5% on a year-over-year basis. During the same period in the previous year, the business posted ($2.20) EPS. On average, analysts predict that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,260 shares of company stock valued at $768,057. Company insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BPMC. Wellington Management Group LLP increased its stake in shares of Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after acquiring an additional 729,055 shares in the last quarter. Millennium Management LLC increased its stake in shares of Blueprint Medicines by 540.0% in the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after acquiring an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of Blueprint Medicines by 200,159.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after acquiring an additional 502,400 shares in the last quarter. State Street Corp increased its stake in Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after purchasing an additional 385,818 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after purchasing an additional 306,079 shares in 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.