Brokerages Set Blueprint Medicines Co. (NASDAQ:BPMC) Target Price at $123.56

Blueprint Medicines Co. (NASDAQ:BPMC) has been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $123.56.

BPMC has been the subject of several research reports. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Wedbush reaffirmed an “outperform” rating and set a $124.00 price objective (down from $135.00) on shares of Blueprint Medicines in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Monday, January 13th. Piper Sandler increased their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Stephens restated an “overweight” rating and issued a $140.00 target price on shares of Blueprint Medicines in a report on Thursday, January 2nd.

Insider Transactions at Blueprint Medicines

In other news, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction on Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,851 shares of company stock valued at $4,984,696. Corporate insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BPMC. Quarry LP purchased a new stake in shares of Blueprint Medicines in the 3rd quarter valued at $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines in the fourth quarter valued at $51,000. Covestor Ltd grew its position in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines during the 4th quarter valued at about $88,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 363 shares during the period.

Blueprint Medicines Price Performance

NASDAQ:BPMC opened at $112.53 on Thursday. The business’s 50-day simple moving average is $97.78 and its two-hundred day simple moving average is $95.18. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90. The stock has a market cap of $7.15 billion, a PE ratio of -53.33 and a beta of 0.61. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09.

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