Blueprint Medicines (NASDAQ:BPMC) Stock Price Expected to Rise, UBS Group Analyst Says

Blueprint Medicines (NASDAQ:BPMC) had its price objective upped by research analysts at UBS Group from $88.00 to $129.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price objective indicates a potential upside of 0.90% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Stephens lowered shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating and dropped their price objective for the company from $150.00 to $135.00 in a report on Tuesday. TD Cowen lowered Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Wall Street Zen upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Wolfe Research cut Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Citigroup upgraded Blueprint Medicines from a “strong sell” rating to a “hold” rating and boosted their price objective for the company from $83.00 to $129.00 in a report on Wednesday. Seventeen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines has an average rating of “Hold” and an average price target of $129.35.

Blueprint Medicines Trading Down 0.0%

Shares of BPMC stock opened at $127.85 on Thursday. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $128.24. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The stock has a 50 day simple moving average of $95.59 and a two-hundred day simple moving average of $95.88. The company has a market cap of $8.26 billion, a P/E ratio of -118.38 and a beta of 0.83.

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

Insiders Place Their Bets

In related news, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the transaction, the chief operating officer now owns 69,266 shares in the company, valued at approximately $6,581,655.32. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ariel Hurley sold 2,752 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the sale, the insider now owns 16,944 shares of the company’s stock, valued at $1,747,434.72. This trade represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,574 shares of company stock valued at $1,465,528 in the last 90 days. 4.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $65,000. Thematics Asset Management purchased a new stake in Blueprint Medicines in the fourth quarter worth $72,000. Covestor Ltd raised its stake in shares of Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 375 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Blueprint Medicines in the first quarter valued at $87,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines during the 4th quarter valued at $88,000.

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.