Citigroup Boosts Blueprint Medicines (NASDAQ:BPMC) Price Target to $76.00

Blueprint Medicines (NASDAQ:BPMC) had its price target increased by Citigroup from $65.00 to $76.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a sell rating on the biotechnology company’s stock.

A number of other equities research analysts have 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 research note on Thursday. JMP Securities increased their target price on Blueprint Medicines from $114.00 to $125.00 and gave the stock a market outperform rating in a research note on Friday. Stifel Nicolaus increased their target price on Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a research note on Friday, April 26th. HC Wainwright increased their price objective on Blueprint Medicines from $125.00 to $135.00 and gave the company a buy rating in a research report on Friday. Finally, Barclays increased their price objective on Blueprint Medicines from $70.00 to $75.00 and gave the company an equal weight rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $94.87.

Blueprint Medicines Trading Up 0.2 %

NASDAQ BPMC opened at $107.19 on Friday. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $110.93. The stock has a market cap of $6.56 billion, a P/E ratio of -22.28 and a beta of 0.65. The stock’s fifty day moving average price is $91.77 and its 200-day moving average price is $80.73. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 215.07% and a negative net margin of 102.15%. The firm had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. During the same period in the prior year, the firm posted ($2.65) earnings per share. The company’s quarterly revenue was up 85.5% on a year-over-year basis. As a group, equities analysts forecast that Blueprint Medicines will post -5.38 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the sale, the insider now directly owns 24,495 shares in the company, valued at approximately $2,449,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider L. Becker Hewes sold 3,097 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 $280,866.93. Following the completion of the transaction, the insider now directly owns 46,281 shares of the company’s stock, valued at approximately $4,197,223.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors have recently bought and sold shares of BPMC. PNC Financial Services Group Inc. increased its holdings in Blueprint Medicines by 63.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 329 shares during the last quarter. Cutler Group LLC CA increased its holdings in Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 944 shares during the last quarter. Compass Wealth Management LLC bought a new stake in Blueprint Medicines in the 4th quarter valued at $69,000. China Universal Asset Management Co. Ltd. increased its holdings in Blueprint Medicines by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 757 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 193 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.