Blueprint Medicines (NASDAQ:BPMC) PT Raised to $127.00

Blueprint Medicines (NASDAQ:BPMC) had its price target upped by equities researchers at Robert W. Baird from $112.00 to $127.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s target price indicates a potential upside of 30.24% from the stock’s current price.

Other analysts also recently issued reports about the company. Stephens started coverage on Blueprint Medicines in a research report on Tuesday, May 14th. They set an “overweight” rating and a $140.00 price target for the company. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. The Goldman Sachs Group increased their price target on Blueprint Medicines from $121.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Morgan Stanley increased their price target on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Finally, Citigroup increased their price target on Blueprint Medicines from $65.00 to $76.00 and gave the company a “sell” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.

Blueprint Medicines Stock Down 2.8 %

NASDAQ:BPMC traded down $2.78 on Friday, hitting $97.51. The stock had a trading volume of 275,548 shares, compared to its average volume of 714,553. The business’s fifty day moving average is $108.87 and its 200 day moving average is $96.99. The company has a market cap of $6.11 billion, a PE ratio of -20.27 and a beta of 0.63. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.48. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The company had revenue of $138.20 million for the quarter, compared to analyst estimates of $104.02 million. During the same quarter last year, the company earned ($2.19) earnings per share. The company’s revenue for the quarter was up 139.9% on a year-over-year basis. On average, equities research analysts expect that Blueprint Medicines will post -4.67 EPS for the current fiscal year.

Insider Activity

In other news, insider L. Becker Hewes sold 34,108 shares of Blueprint Medicines stock in a transaction on Friday, May 31st. The stock was sold at an average price of $105.91, for a total value of $3,612,378.28. Following the completion of the transaction, the insider now directly owns 36,860 shares in the company, valued at $3,903,842.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Debra Durso-Bumpus sold 333 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $111.15, for a total value of $37,012.95. Following the transaction, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,864,257.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider L. Becker Hewes sold 34,108 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $105.91, for a total transaction of $3,612,378.28. Following the completion of 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. Over the last three months, insiders sold 130,064 shares of company stock worth $13,716,726. 4.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in shares of Blueprint Medicines by 331.9% in the 1st quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock worth $5,945,000 after buying an additional 48,160 shares during the last quarter. Readystate Asset Management LP bought a new position in shares of Blueprint Medicines during the 4th quarter valued at $3,692,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Blueprint Medicines during the 1st quarter valued at $474,000. Vanguard Group Inc. grew its holdings in shares of Blueprint Medicines by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock valued at $564,045,000 after purchasing an additional 147,827 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new position in shares of Blueprint Medicines during the 4th quarter valued at $2,212,000.

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.