Blueprint Medicines (NASDAQ:BPMC) PT Raised to $135.00

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

BPMC has been the subject of a number of other reports. Citigroup raised their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a research report on Friday, February 16th. Stifel Nicolaus upped their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, April 26th. Needham & Company LLC reaffirmed a buy rating and set a $97.00 target price on shares of Blueprint Medicines in a report on Thursday. Barclays upped their target price on Blueprint Medicines from $70.00 to $75.00 and gave the company an equal weight rating in a research report on Friday. Finally, JMP Securities reissued a market outperform rating and set a $114.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines has an average rating of Hold and a consensus price target of $94.87.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock traded up $0.19 on Friday, hitting $107.19. The company had a trading volume of 1,004,153 shares, compared to its average volume of 698,730. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $110.93. The stock has a 50-day moving average of $91.77 and a 200-day moving average of $80.52. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 215.07%. The business had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. During the same quarter in the prior year, the company posted ($2.65) earnings per share. The firm’s revenue was up 85.5% on a year-over-year basis. On average, equities research analysts anticipate that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other news, COO Christina Rossi sold 6,070 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $550,488.30. Following the completion of the transaction, the chief operating officer now directly owns 64,306 shares in the company, valued at $5,831,911.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now directly owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christina Rossi sold 6,070 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $550,488.30. Following the completion of the sale, the chief operating officer now directly owns 64,306 shares in the company, valued at approximately $5,831,911.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Blueprint Medicines by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock worth $564,045,000 after purchasing an additional 147,827 shares during the period. Wellington Management Group LLP lifted its stake in shares of Blueprint Medicines by 3.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after purchasing an additional 156,807 shares during the period. Rock Springs Capital Management LP boosted its position in shares of Blueprint Medicines by 22.8% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after purchasing an additional 498,622 shares in the last quarter. Polar Capital Holdings Plc grew its stake in Blueprint Medicines by 108.0% during the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after purchasing an additional 540,000 shares during the period. Finally, Avidity Partners Management LP increased its holdings in Blueprint Medicines by 81.1% in the third quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after purchasing an additional 336,600 shares in the last quarter.

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.