Guggenheim Raises Blueprint Medicines (NASDAQ:BPMC) Price Target to $138.00

Blueprint Medicines (NASDAQ:BPMC) had its price target boosted by Guggenheim from $130.00 to $138.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other research analysts have also commented on BPMC. Oppenheimer raised their price target on Blueprint Medicines from $114.00 to $125.00 and gave the company an outperform rating in a report on Monday, July 8th. JMP Securities reaffirmed 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 raised their price target on Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a research note on Friday, April 26th. The Goldman Sachs Group raised their price target on Blueprint Medicines from $121.00 to $168.00 and gave the stock a buy rating in a research note on Monday, May 6th. Finally, SVB Leerink raised Blueprint Medicines from an underperform rating to a market perform rating and raised their price target for the stock from $50.00 to $97.00 in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $120.00.

Blueprint Medicines Stock Down 3.9 %

Shares of BPMC traded down $3.75 during mid-day trading on Friday, hitting $92.97. 1,369,297 shares of the company’s stock were exchanged, compared to its average volume of 729,042. The company has a market cap of $5.82 billion, a price-to-earnings ratio of -20.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The stock’s 50-day moving average is $108.75 and its 200-day moving average is $97.33. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. The company had revenue of $138.20 million for the quarter, compared to analyst estimates of $104.02 million. Blueprint Medicines had a negative return on equity of 176.65% and a negative net margin of 56.64%. The company’s quarterly revenue was up 139.9% compared to the same quarter last year. During the same period last year, the company earned ($2.19) earnings per share. On average, sell-side analysts anticipate that Blueprint Medicines will post -4.67 earnings per share 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 transaction, the insider now directly owns 36,860 shares in the company, valued at approximately $3,903,842.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider L. Becker Hewes sold 34,108 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 36,860 shares in the company, valued at approximately $3,903,842.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Percy H. Carter sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $105.13, for a total value of $420,520.00. Following the sale, the insider now directly owns 41,895 shares in the company, valued at approximately $4,404,421.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,064 shares of company stock worth $13,716,726. 4.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in shares of Blueprint Medicines by 331.9% during the first 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 period. Readystate Asset Management LP acquired a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $3,692,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Blueprint Medicines in the 1st quarter valued at about $474,000. Vanguard Group Inc. raised its stake 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 valued at $564,045,000 after purchasing an additional 147,827 shares in the last quarter. Finally, Axiom Investors LLC DE acquired a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $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.