Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $135.00

Blueprint Medicines (NASDAQ:BPMC) had its price objective raised by HC Wainwright from $125.00 to $135.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other research firms have also weighed in on BPMC. Needham & Company LLC reaffirmed a buy rating and issued a $97.00 price target on shares of Blueprint Medicines in a research report on Thursday. Barclays boosted their target price on Blueprint Medicines from $70.00 to $75.00 and gave the stock an equal weight rating in a report on Friday. JMP Securities reiterated a market outperform rating and set a $114.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 10th. Citigroup lifted their price target on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a research report on Friday, February 16th. Finally, Wedbush reaffirmed an outperform rating and set a $110.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines has an average rating of Hold and a consensus target price of $94.87.

Blueprint Medicines Price Performance

Shares of BPMC opened at $107.19 on Friday. 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 PE ratio of -22.28 and a beta of 0.65. The firm’s 50 day moving average price is $91.77 and its 200 day moving average price is $80.73. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $110.93.

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

Insider Activity at Blueprint Medicines

In related news, CFO Michael Landsittel sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at $4,492,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of Blueprint Medicines stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the sale, the chief financial officer now owns 47,286 shares in the company, valued at $4,492,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 36,374 shares in the company, valued at approximately $3,406,425.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,289 shares of company stock worth $8,314,163. Company insiders own 3.88% of the company’s stock.

Institutional Inflows and Outflows

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

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.