Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $115.00

Blueprint Medicines (NASDAQ:BPMC) had its price target increased by stock analysts at Morgan Stanley from $110.00 to $115.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s price objective indicates a potential downside of 2.95% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Citigroup raised their target price on Blueprint Medicines from $65.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $130.00 price objective on shares of Blueprint Medicines in a report on Friday, June 28th. Oppenheimer upped their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday. The Goldman Sachs Group lifted their price target on shares of Blueprint Medicines from $121.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.33.

Blueprint Medicines Trading Up 0.6 %

Shares of BPMC stock traded up $0.70 on Friday, hitting $118.49. 400,421 shares of the stock traded hands, compared to its average volume of 704,156. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $120.32. The stock has a market capitalization of $7.42 billion, a PE ratio of -24.66 and a beta of 0.63. The firm’s 50-day moving average price is $106.66 and its two-hundred day moving average price is $94.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.64) by $0.32. The business had revenue of $96.12 million during 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%. As a group, analysts anticipate that Blueprint Medicines will post -5.16 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Ariel Hurley sold 1,834 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total value of $190,515.92. Following the sale, the insider now directly owns 14,913 shares in the company, valued at $1,549,162.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of Blueprint Medicines 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 transaction, the insider now directly owns 43,763 shares in the company, valued at $4,870,384.27. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ariel Hurley sold 1,834 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the sale, the insider now directly owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,898 shares of company stock worth $14,957,242. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its stake in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Headlands Technologies LLC increased its stake in Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares during the period. Compass Wealth Management LLC purchased a new position in Blueprint Medicines during the 4th quarter worth $69,000. Natixis acquired a new stake in shares of Blueprint Medicines in the 1st quarter worth $73,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 193 shares in 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.