Brokerages Set Blueprint Medicines Co. (NASDAQ:BPMC) Price Target at $120.00

Blueprint Medicines Co. (NASDAQ:BPMC) has received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $120.00.

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Blueprint Medicines in a research report on Thursday, August 1st. Morgan Stanley upped their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Robert W. Baird lifted their price objective on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Barclays increased their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Guggenheim lifted their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

Blueprint Medicines Stock Performance

BPMC stock opened at $86.43 on Monday. The company has a 50-day simple moving average of $102.87 and a 200 day simple moving average of $99.29. The company has a market capitalization of $5.41 billion, a P/E ratio of -17.97 and a beta of 0.63. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The company had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. During the same period in the prior year, the business posted ($2.19) EPS. The business’s revenue for the quarter was up 139.9% compared to the same quarter last year. Sell-side analysts predict that Blueprint Medicines will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now directly owns 34,729 shares in the company, valued at $3,236,395.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Debra Durso-Bumpus sold 74,034 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $104.19, for a total value of $7,713,602.46. Following the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,559,666.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the sale, the insider now owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. Insiders have sold 128,947 shares of company stock worth $13,065,852 in the last 90 days. Company insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Triad Wealth Partners LLC bought a new stake in shares of Blueprint Medicines in the 2nd quarter valued at approximately $27,000. Covestor Ltd grew its position in Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 291 shares in the last quarter. Headlands Technologies LLC increased its stake in shares of Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares during the last quarter. Natixis bought a new position in shares of Blueprint Medicines during the 1st quarter valued at $73,000. Finally, Van ECK Associates Corp raised its holdings in shares of Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares in the last quarter.

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.