Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) Price Target at $122.11

Blueprint Medicines Co. (NASDAQ:BPMC) has been given an average rating of “Moderate Buy” by the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $122.11.

BPMC has been the topic of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Monday, December 9th. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price for the company. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. Finally, UBS Group assumed coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price on the stock.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $93.19 on Wednesday. Blueprint Medicines has a fifty-two week low of $72.24 and a fifty-two week high of $121.90. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of -44.17 and a beta of 0.59. The stock has a fifty day moving average of $92.03 and a two-hundred day moving average of $97.52. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same quarter last year, the business earned ($2.20) earnings per share. Blueprint Medicines’s revenue was up 126.5% compared to the same quarter last year. On average, analysts anticipate that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the sale, the chief executive officer now owns 150,824 shares in the company, valued at $14,569,598.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred on 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 owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,260 shares of company stock valued at $768,057. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of BPMC. Triad Wealth Partners LLC acquired a new position in shares of Blueprint Medicines during the second quarter valued at $27,000. Quarry LP bought a new stake in Blueprint Medicines in the 3rd quarter valued at about $32,000. Covestor Ltd boosted its stake in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 403 shares during the period. CWM LLC grew its position in Blueprint Medicines by 114.6% in the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 131 shares during the period.

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.