Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $127.00

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

Several other research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Stifel Nicolaus upped their target price on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Blueprint Medicines in a report on Thursday. Wedbush restated an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Finally, Stephens started coverage on shares of Blueprint Medicines in a research report on Tuesday, May 14th. They issued an “overweight” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.88.

Blueprint Medicines Stock Down 2.8 %

NASDAQ BPMC traded down $2.78 on Friday, hitting $97.51. 275,548 shares of the stock were exchanged, compared to its average volume of 714,553. 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 fifty-two week low of $43.89 and a fifty-two week high of $121.90. 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 50-day moving average price of $108.87 and a 200-day moving average price of $96.99.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($1.28) by $0.48. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company had revenue of $138.20 million during the quarter, compared to analysts’ expectations of $104.02 million. During the same quarter in the previous year, the business posted ($2.19) EPS. The firm’s revenue was up 139.9% on a year-over-year basis. Sell-side analysts anticipate 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 the stock in a transaction dated Friday, May 31st. The shares were 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 owns 36,860 shares in the company, valued at approximately $3,903,842.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Percy H. Carter sold 4,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total value of $420,520.00. Following the completion of the transaction, the insider now owns 41,895 shares in the company, valued at approximately $4,404,421.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider L. Becker Hewes sold 34,108 shares of the stock in a transaction dated Friday, May 31st. The shares were 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 owns 36,860 shares of the company’s stock, valued at approximately $3,903,842.60. The disclosure for this sale can be found here. Insiders sold 130,064 shares of company stock worth $13,716,726 in the last 90 days. 4.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of large investors have recently added to or reduced their stakes in BPMC. Triad Wealth Partners LLC acquired a new stake in Blueprint Medicines in the 2nd quarter valued at about $27,000. Covestor Ltd grew its stake in 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 acquiring an additional 291 shares during the last quarter. Headlands Technologies LLC grew 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 acquiring an additional 342 shares during the last quarter. Natixis acquired a new stake in Blueprint Medicines in the 1st quarter valued at about $73,000. Finally, Van ECK Associates Corp grew its stake in Blueprint Medicines by 28.4% in the 4th 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 during the last quarter.

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.