Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) Price Target at $123.33

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have earned a consensus recommendation of “Moderate Buy” from the twenty analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $123.33.

A number of brokerages recently issued reports on BPMC. Stephens restated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, December 9th. UBS Group assumed coverage on Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the sale, the chief executive officer now directly owns 150,824 shares in the company, valued at approximately $14,569,598.40. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the transaction, the chief operating officer now owns 71,657 shares of the company’s stock, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,720 shares of company stock valued at $2,177,846 in the last quarter. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exome Asset Management LLC acquired a new stake in shares of Blueprint Medicines in the third quarter valued at $3,395,000. Franklin Resources Inc. lifted its holdings in Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after acquiring an additional 265 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Blueprint Medicines by 4.0% during the 3rd quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company’s stock valued at $2,224,000 after purchasing an additional 922 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Blueprint Medicines in the 3rd quarter worth approximately $202,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Blueprint Medicines by 23.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company’s stock worth $1,528,000 after purchasing an additional 3,162 shares in the last quarter.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $90.63 on Friday. The firm has a 50-day moving average of $93.48 and a two-hundred day moving average of $95.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The stock has a market cap of $5.76 billion, a P/E ratio of -42.95 and a beta of 0.61. Blueprint Medicines has a 1-year low of $72.24 and a 1-year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. During the same quarter in the prior year, the business posted ($2.20) earnings per share. Blueprint Medicines’s revenue for the quarter was up 126.5% on a year-over-year basis. On average, research analysts expect that Blueprint Medicines will post -3.68 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.