Brokerages Set Blueprint Medicines Co. (NASDAQ:BPMC) Price Target at $116.33

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $116.33.

Several analysts have weighed in on BPMC shares. HC Wainwright upped their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, June 7th. Stifel Nicolaus increased their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stephens began coverage on shares of Blueprint Medicines in a research note on Tuesday, May 14th. They set an “overweight” rating and a $140.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Blueprint Medicines in a research note on Friday, June 28th.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CFO Michael Landsittel sold 10,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares in the company, valued at $4,965,030. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Blueprint Medicines news, CFO Michael Landsittel sold 10,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares in the company, valued at $4,965,030. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Debra Durso-Bumpus sold 3,850 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $111.20, for a total transaction of $428,120.00. Following the completion of the sale, the insider now owns 43,763 shares in the company, valued at $4,866,445.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,898 shares of company stock valued at $14,957,242. 4.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Blueprint Medicines by 0.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock worth $3,451,000 after acquiring an additional 145 shares during the period. US Bancorp DE raised its holdings in shares of Blueprint Medicines by 5.2% during the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock worth $353,000 after acquiring an additional 183 shares during the period. Van ECK Associates Corp raised its holdings in shares of Blueprint Medicines by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 193 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after acquiring an additional 247 shares during the period. Finally, Triad Wealth Partners LLC acquired a new stake in Blueprint Medicines in the 2nd quarter valued at $27,000.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $114.97 on Friday. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of -23.90 and a beta of 0.63. Blueprint Medicines has a 1-year low of $43.89 and a 1-year high of $121.90. The firm’s 50-day moving average price is $107.76 and its two-hundred day moving average price is $95.38.

Blueprint Medicines (NASDAQ:BPMC) last issued 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. The firm had revenue of $96.12 million for the quarter, compared to analysts’ expectations of $82.58 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. On average, equities analysts predict that Blueprint Medicines will post -4.7 earnings per share for the current fiscal year.

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.