Blueprint Medicines (NASDAQ:BPMC) Given New $151.00 Price Target at Wells Fargo & Company

Blueprint Medicines (NASDAQ:BPMC) had its price target dropped by research analysts at Wells Fargo & Company from $153.00 to $151.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 69.55% from the company’s previous close.

A number of other brokerages also recently issued reports on BPMC. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Morgan Stanley boosted their target price on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Guggenheim lifted their target price on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Oppenheimer increased their price target on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.39.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock traded down $0.18 during trading hours on Thursday, hitting $89.06. The company’s stock had a trading volume of 408,726 shares, compared to its average volume of 692,878. The company has a market cap of $5.58 billion, a PE ratio of -18.43 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. The business has a 50 day moving average price of $88.98 and a two-hundred day moving average price of $98.43. Blueprint Medicines has a 12-month low of $53.73 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The company had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the previous year, the firm earned ($2.20) EPS. The firm’s revenue was up 126.5% compared to the same quarter last year. Analysts expect that Blueprint Medicines will post -3.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in Blueprint Medicines in the second quarter worth $27,000. Covestor Ltd lifted its stake in shares of Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after buying an additional 291 shares during the period. Headlands Technologies LLC grew its holdings in shares of Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares during the last quarter. Natixis acquired a new position in shares of Blueprint Medicines in the 1st quarter valued at $73,000. Finally, CWM LLC raised its stake in Blueprint Medicines by 114.6% in the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 590 shares during 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.