Brokerages Set Blueprint Medicines Co. (NASDAQ:BPMC) PT at $123.33

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been given an average recommendation of “Moderate Buy” by the twenty brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $123.33.

A number of equities research analysts recently issued reports on BPMC shares. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. Wells Fargo & Company lowered their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 target price for the company. UBS Group began coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Monday, December 9th.

Insider Activity

In other Blueprint Medicines news, insider Ariel Hurley sold 1,819 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the transaction, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $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 over the last 90 days. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC bought a new position in shares of Blueprint Medicines in the 2nd quarter valued at about $1,060,000. Federated Hermes Inc. boosted its holdings in shares of Blueprint Medicines by 27.8% in the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after buying an additional 13,579 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Blueprint Medicines by 48.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock valued at $23,332,000 after buying an additional 82,693 shares during the last quarter. Nicholas Investment Partners LP bought a new position in shares of Blueprint Medicines in the second quarter valued at $4,377,000. Finally, Entropy Technologies LP bought a new stake in Blueprint Medicines during the third quarter worth $999,000.

Blueprint Medicines Trading Up 5.4 %

NASDAQ BPMC opened at $94.37 on Friday. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 1-year low of $72.24 and a 1-year high of $121.90. The firm’s fifty day simple moving average is $93.39 and its 200-day simple moving average is $95.70. The company has a market capitalization of $5.99 billion, a PE ratio of -44.72 and a beta of 0.61.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the previous year, the company earned ($2.20) earnings per share. The company’s revenue was up 126.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

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.