Blueprint Medicines (NASDAQ:BPMC) PT Raised to $130.00

Blueprint Medicines (NASDAQ:BPMC) had its price target boosted by research analysts at Stifel Nicolaus from $120.00 to $130.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 39.78% from the stock’s previous close.

Several other research firms also recently commented on BPMC. Needham & Company LLC reissued a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday. Barclays boosted their target price on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a report on Friday. Finally, Citigroup boosted their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a report on Friday, February 16th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of “Hold” and a consensus target price of $91.57.

Blueprint Medicines Stock Performance

BPMC opened at $93.00 on Friday. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60. The company has a market cap of $5.69 billion, a price-to-earnings ratio of -11.12 and a beta of 0.63. The company’s 50 day moving average is $90.79 and its 200 day moving average is $79.00. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The business had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. During the same quarter in the previous year, the firm earned ($2.65) earnings per share. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. On average, equities research analysts predict that Blueprint Medicines will post -5.41 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the transaction, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider L. Becker Hewes sold 3,097 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $280,866.93. Following the transaction, the insider now directly owns 46,281 shares in the company, valued at $4,197,223.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock worth $8,314,163 over the last quarter. Insiders own 3.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in shares of Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 329 shares during the last quarter. Cutler Group LLC CA grew its holdings in shares of Blueprint Medicines by 1,685.7% in the third quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 944 shares during the last quarter. Compass Wealth Management LLC bought a new position in shares of Blueprint Medicines in the fourth quarter worth about $69,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Blueprint Medicines by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 757 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 193 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.