Blueprint Medicines (NASDAQ:BPMC) Reaches New 52-Week High at $111.99

Blueprint Medicines Co. (NASDAQ:BPMC)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $111.99 and last traded at $111.70, with a volume of 343163 shares traded. The stock had previously closed at $109.03.

Analysts Set New Price Targets

BPMC has been the topic of several research reports. SVB Leerink upgraded shares of Blueprint Medicines from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $50.00 to $97.00 in a report on Monday, May 6th. The Goldman Sachs Group boosted their price objective on shares of Blueprint Medicines from $121.00 to $168.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Piper Sandler boosted their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. Finally, 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 research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average price target of $110.20.

Blueprint Medicines Stock Performance

The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -22.91 and a beta of 0.63. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. The stock’s 50-day simple moving average is $104.71 and its 200 day simple moving average is $93.30.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.32. The firm had revenue of $96.12 million for the quarter, compared to analyst estimates of $82.58 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. Analysts expect that Blueprint Medicines Co. will post -5.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 333 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $111.15, for a total transaction of $37,012.95. Following the transaction, the insider now directly owns 43,763 shares in the company, valued at $4,864,257.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider L. Becker Hewes sold 4,922 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $106.43, for a total transaction of $523,848.46. Following the transaction, the insider now directly owns 31,938 shares in the company, valued at $3,399,161.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Debra Durso-Bumpus sold 333 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $111.15, for a total transaction of $37,012.95. Following the transaction, the insider now owns 43,763 shares in the company, valued at $4,864,257.45. The disclosure for this sale can be found here. Insiders have sold a total of 129,231 shares of company stock worth $13,547,878 over the last ninety days. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of large investors have recently modified their holdings of BPMC. Northern Trust Corp lifted its holdings in Blueprint Medicines by 0.5% in the third quarter. Northern Trust Corp now owns 588,460 shares of the biotechnology company’s stock valued at $29,552,000 after buying an additional 2,763 shares during the period. Spouting Rock Asset Management LLC lifted its holdings in Blueprint Medicines by 8.8% in the third quarter. Spouting Rock Asset Management LLC now owns 5,643 shares of the biotechnology company’s stock valued at $283,000 after buying an additional 455 shares during the period. Diversified Trust Co lifted its holdings in Blueprint Medicines by 2.9% in the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after buying an additional 318 shares during the period. Graham Capital Management L.P. acquired a new position in Blueprint Medicines in the third quarter valued at approximately $397,000. Finally, Polar Capital Holdings Plc lifted its holdings in Blueprint Medicines by 108.0% in the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after buying an additional 540,000 shares during the period.

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.