Blueprint Medicines (NASDAQ:BPMC) PT Raised to $104.00 at Piper Sandler

Blueprint Medicines (NASDAQ:BPMC) had its price target hoisted by equities researchers at Piper Sandler from $78.00 to $104.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Piper Sandler’s price objective points to a potential downside of 2.98% from the stock’s previous close.

A number of other research firms have also recently weighed in on BPMC. Citigroup upped their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research note on Friday, February 16th. Barclays raised their target price on Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. JMP Securities reissued a “market outperform” rating and set a $114.00 price objective on shares of Blueprint Medicines in a report on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price objective on shares of Blueprint Medicines in a report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.87.

Blueprint Medicines Stock Up 0.2 %

BPMC opened at $107.19 on Friday. The business has a 50 day moving average price of $91.77 and a 200 day moving average price of $80.52. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $110.93. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. The firm has a market cap of $6.56 billion, a P/E ratio of -22.28 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The business had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative return on equity of 215.07% and a negative net margin of 102.15%. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same period in the previous year, the company posted ($2.65) earnings per share. Research analysts forecast that Blueprint Medicines will post -5.41 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, EVP Tracey L. Mccain sold 5,194 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $471,043.86. Following the completion of the transaction, the executive vice president now owns 60,498 shares in the company, valued at approximately $5,486,563.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Christina Rossi sold 6,070 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $550,488.30. Following the completion of the sale, the chief operating officer now directly owns 64,306 shares in the company, valued at approximately $5,831,911.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Tracey L. Mccain sold 5,194 shares of Blueprint Medicines stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $471,043.86. Following the completion of the transaction, the executive vice president now owns 60,498 shares in the company, valued at approximately $5,486,563.62. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock valued at $8,314,163 in the last 90 days. 3.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently modified their holdings of BPMC. Vanguard Group Inc. boosted its holdings in shares of Blueprint Medicines by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock valued at $564,045,000 after acquiring an additional 147,827 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Blueprint Medicines by 3.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock worth $255,144,000 after buying an additional 156,807 shares during the period. Rock Springs Capital Management LP lifted its holdings in Blueprint Medicines by 22.8% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock worth $134,855,000 after buying an additional 498,622 shares during the period. Polar Capital Holdings Plc lifted its holdings in Blueprint Medicines by 108.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after buying an additional 540,000 shares during the period. Finally, Avidity Partners Management LP lifted its holdings in Blueprint Medicines by 81.1% during the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after buying an additional 336,600 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.