JPMorgan Chase & Co. Issues Positive Forecast for Blueprint Medicines (NASDAQ:BPMC) Stock Price

Blueprint Medicines (NASDAQ:BPMC) had its price target hoisted by JPMorgan Chase & Co. from $126.00 to $129.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

A number of other research analysts also recently issued reports on the company. Piper Sandler boosted their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, January 27th. UBS Group assumed 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 for the company. HC Wainwright restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Wednesday, January 15th. Finally, StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.72.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $113.40 on Tuesday. Blueprint Medicines has a 52-week low of $72.24 and a 52-week high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The stock has a market cap of $7.20 billion, a PE ratio of -53.74 and a beta of 0.61. The business has a 50-day simple moving average of $98.51 and a 200-day simple moving average of $95.02.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the 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 owns 71,657 shares in the company, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 15,161 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the completion of the transaction, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,851 shares of company stock worth $4,984,696 over the last three months. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several large investors have recently added to or reduced their stakes in BPMC. Creative Planning grew its holdings in shares of Blueprint Medicines by 27.1% in the second quarter. Creative Planning now owns 12,351 shares of the biotechnology company’s stock valued at $1,331,000 after purchasing an additional 2,636 shares during the period. CWM LLC boosted its holdings in Blueprint Medicines by 69.2% in the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 765 shares during the last quarter. Clarus Wealth Advisors grew its stake in shares of Blueprint Medicines by 8.6% in the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 206 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Blueprint Medicines during the 3rd quarter worth approximately $3,280,000. Finally, NBC Securities Inc. raised its position in shares of Blueprint Medicines by 748.9% during the 3rd quarter. NBC Securities Inc. now owns 2,725 shares of the biotechnology company’s stock valued at $252,000 after buying an additional 2,404 shares during the period.

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.