Blueprint Medicines (NASDAQ:BPMC) Given New $125.00 Price Target at Oppenheimer

Blueprint Medicines (NASDAQ:BPMC) had its price target boosted by Oppenheimer from $114.00 to $125.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on BPMC. HC Wainwright increased their price target on Blueprint Medicines from $125.00 to $135.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Barclays raised their price objective on Blueprint Medicines from $70.00 to $75.00 and gave the company an equal weight rating in a report on Friday, May 3rd. StockNews.com raised Blueprint Medicines from a sell rating to a hold rating in a research report on Friday, May 3rd. Stephens started coverage on Blueprint Medicines in a research report on Tuesday, May 14th. They issued an overweight rating and a $140.00 price objective for the company. Finally, Needham & Company LLC reissued a buy rating and issued a $130.00 price objective on shares of Blueprint Medicines in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $112.87.

Blueprint Medicines Trading Up 1.6 %

NASDAQ BPMC opened at $117.79 on Monday. The stock has a 50-day simple moving average of $106.66 and a 200 day simple moving average of $94.29. The company has a market capitalization of $7.38 billion, a PE ratio of -24.49 and a beta of 0.63. 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 $119.30.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.64) by $0.32. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The company had revenue of $96.12 million during the quarter, compared to analysts’ expectations of $82.58 million. Research analysts forecast that Blueprint Medicines will post -5.15 EPS for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the sale, the insider now owns 43,763 shares in the company, valued at approximately $4,870,384.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the sale, the insider now owns 43,763 shares in the company, valued at approximately $4,870,384.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider L. Becker Hewes sold 4,922 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $106.43, for a total transaction of $523,848.46. Following the completion of the sale, the insider now owns 31,938 shares in the company, valued at approximately $3,399,161.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,898 shares of company stock valued at $14,957,242. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Blueprint Medicines by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after buying an additional 195,007 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 in the last quarter. Wellington Management Group LLP raised its position in shares of Blueprint Medicines by 3.2% during 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 buying an additional 156,807 shares in the last quarter. Polar Capital Holdings Plc raised its position in shares of Blueprint Medicines by 108.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after buying an additional 540,000 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings 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 purchasing an additional 38,881 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.