Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) PT at $108.00

Blueprint Medicines Co. (NASDAQ:BPMC) has been given an average rating of “Moderate Buy” by the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $108.00.

A number of research firms have issued reports on BPMC. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, June 7th. HC Wainwright boosted their price target on shares of Blueprint Medicines from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Citigroup upped their price objective on shares of Blueprint Medicines from $65.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 3rd. Barclays boosted their target price on Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, Wedbush restated an “outperform” rating and set a $110.00 price target on shares of Blueprint Medicines in a research note on Friday, April 26th.

Blueprint Medicines Stock Down 0.9 %

Shares of NASDAQ:BPMC opened at $104.23 on Wednesday. The firm has a market capitalization of $6.53 billion, a PE ratio of -21.67 and a beta of 0.70. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $111.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The firm’s 50-day moving average is $101.33 and its two-hundred day moving average is $91.54.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.64) by $0.32. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The firm had revenue of $96.12 million for the quarter, compared to the consensus estimate of $82.58 million. Analysts predict that Blueprint Medicines will post -5.15 EPS for the current year.

Insider Activity

In other Blueprint Medicines news, insider Percy H. Carter sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $105.13, for a total transaction of $420,520.00. Following the sale, the insider now directly owns 41,895 shares in the company, valued at $4,404,421.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Michael Landsittel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at approximately $4,965,030. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Percy H. Carter sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total value of $420,520.00. Following the completion of the sale, the insider now directly owns 41,895 shares in the company, valued at approximately $4,404,421.35. The disclosure for this sale can be found here. In the last three months, insiders sold 59,864 shares of company stock worth $6,272,263. Company insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG lifted its stake in shares of Blueprint Medicines by 4.8% during the third quarter. Deutsche Bank AG now owns 82,567 shares of the biotechnology company’s stock valued at $4,147,000 after buying an additional 3,805 shares during the period. Rhumbline Advisers boosted its holdings in shares of Blueprint Medicines by 1.6% during the third quarter. Rhumbline Advisers now owns 85,202 shares of the biotechnology company’s stock worth $4,279,000 after purchasing an additional 1,332 shares during the last quarter. Northern Trust Corp grew its position in shares of Blueprint Medicines by 0.5% in the third quarter. Northern Trust Corp now owns 588,460 shares of the biotechnology company’s stock valued at $29,552,000 after purchasing an additional 2,763 shares during the period. Algert Global LLC purchased a new position in Blueprint Medicines during the third quarter worth about $299,000. Finally, CHI Advisors LLC acquired a new stake in Blueprint Medicines in the 3rd quarter worth about $4,665,000.

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.