Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) PT at $126.56

Blueprint Medicines Co. (NASDAQ:BPMC) has received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $126.56.

A number of research firms recently commented on BPMC. Wedbush reiterated an “outperform” rating and set a $128.00 price target on shares of Blueprint Medicines in a report on Thursday, May 1st. Morgan Stanley began coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price objective on the stock. Wolfe Research assumed coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an “outperform” rating for the company. Needham & Company LLC lowered their target price on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Finally, Jefferies Financial Group assumed coverage on Blueprint Medicines in a research report on Monday, March 17th. They issued a “buy” rating and a $135.00 price target for the company.

Blueprint Medicines Price Performance

BPMC opened at $100.31 on Friday. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of -92.88 and a beta of 0.83. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $88.70 and a 200-day moving average price of $94.01. Blueprint Medicines has a twelve month low of $73.04 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Equities analysts expect that Blueprint Medicines will post -1.28 EPS for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the sale, the insider now directly owns 16,944 shares of the company’s stock, valued at approximately $1,747,434.72. The trade was a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares of the company’s stock, valued at $6,581,655.32. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,503 shares of company stock worth $1,027,931 over the last 90 days. Company insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently made changes to their positions in BPMC. Franklin Resources Inc. lifted its holdings in shares of Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after acquiring an additional 265 shares in the last quarter. Empirical Asset Management LLC acquired a new position in shares of Blueprint Medicines during the 4th quarter valued at $2,348,000. SG Americas Securities LLC lifted its holdings in shares of Blueprint Medicines by 69.7% during the 4th quarter. SG Americas Securities LLC now owns 4,277 shares of the biotechnology company’s stock valued at $373,000 after acquiring an additional 1,756 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Blueprint Medicines by 207.5% during the 4th quarter. Fifth Third Bancorp now owns 3,075 shares of the biotechnology company’s stock valued at $268,000 after acquiring an additional 2,075 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Blueprint Medicines by 63.9% during the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 1,023 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.