Blueprint Medicines Co. (NASDAQ:BPMC) Receives $122.11 Average PT from Brokerages

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have received an average rating of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $122.11.

Several research analysts have recently commented on BPMC shares. Barclays lifted their target price on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target on the stock.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the transaction, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently modified their holdings of the business. Triad Wealth Partners LLC acquired a new position in shares of Blueprint Medicines in the second quarter worth approximately $27,000. Covestor Ltd raised its holdings in Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 291 shares during the last quarter. Quarry LP acquired a new position in shares of Blueprint Medicines in the 3rd quarter worth approximately $32,000. Headlands Technologies LLC boosted its stake in shares of Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Blueprint Medicines during the first quarter worth $73,000.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $90.18 on Friday. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -42.74 and a beta of 0.59. Blueprint Medicines has a 12 month low of $63.50 and a 12 month high of $121.90. The firm has a fifty day simple moving average of $89.67 and a 200 day simple moving average of $98.82. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.20) earnings per share. Research analysts forecast that Blueprint Medicines will post -3.61 EPS for the current fiscal year.

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.