Piper Sandler Issues Positive Forecast for Blueprint Medicines (NASDAQ:BPMC) Stock Price

Blueprint Medicines (NASDAQ:BPMC) had its price objective raised by research analysts at Piper Sandler from $109.00 to $119.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Piper Sandler’s target price points to a potential upside of 1.43% from the stock’s current price.

Several other research firms have also recently weighed in on BPMC. UBS Group assumed coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Wedbush restated an “outperform” rating and set a $124.00 target price (down previously from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th. Finally, StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $123.56.

Blueprint Medicines Trading Up 2.1 %

Shares of Blueprint Medicines stock traded up $2.41 during midday trading on Monday, reaching $117.32. 90,262 shares of the company’s stock traded hands, compared to its average volume of 911,828. The stock has a 50 day moving average of $95.80 and a 200-day moving average of $95.19. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The company has a market cap of $7.45 billion, a PE ratio of -55.67 and a beta of 0.61.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same period in the prior year, the firm earned ($2.20) EPS. The company’s revenue was up 126.5% compared to the same quarter last year. As a group, equities analysts expect that Blueprint Medicines will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the transaction, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,395,822.42. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,851 shares of company stock valued at $4,984,696 over the last ninety days. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after buying an additional 729,055 shares during the last quarter. Millennium Management LLC raised its position in Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after acquiring an additional 529,566 shares in the last quarter. State Street Corp lifted its stake in shares of Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after purchasing an additional 385,818 shares during the period. Jennison Associates LLC purchased a new position in shares of Blueprint Medicines in the fourth quarter valued at $31,417,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after buying an additional 306,079 shares during 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.