Blueprint Medicines Co. (NASDAQ:BPMC) Receives $120.00 Average PT from Analysts

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $120.00.

Several equities analysts have recently commented on the company. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Morgan Stanley upped their target price on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Stephens started coverage on Blueprint Medicines in a report on Tuesday, May 14th. They issued an “overweight” rating and a $140.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Blueprint Medicines in a research note on Thursday, August 1st. Finally, Oppenheimer lifted their target price on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, July 8th.

Insider Buying and Selling

In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Debra Durso-Bumpus sold 3,850 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $111.20, for a total value of $428,120.00. Following the sale, the insider now owns 43,763 shares in the company, valued at $4,866,445.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. Insiders sold 128,947 shares of company stock worth $13,065,852 in the last 90 days. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC acquired a new position in Blueprint Medicines in the second quarter valued at approximately $23,817,000. Dana Investment Advisors Inc. increased its holdings in shares of Blueprint Medicines by 8.2% during the 2nd quarter. Dana Investment Advisors Inc. now owns 14,744 shares of the biotechnology company’s stock valued at $1,589,000 after purchasing an additional 1,114 shares in the last quarter. Creative Planning lifted its stake in shares of Blueprint Medicines by 27.1% in the 2nd quarter. Creative Planning now owns 12,351 shares of the biotechnology company’s stock valued at $1,331,000 after purchasing an additional 2,636 shares during the period. Algert Global LLC boosted its holdings in Blueprint Medicines by 81.0% during the second quarter. Algert Global LLC now owns 65,540 shares of the biotechnology company’s stock worth $7,064,000 after buying an additional 29,330 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in Blueprint Medicines by 101.0% during the second quarter. Driehaus Capital Management LLC now owns 358,255 shares of the biotechnology company’s stock valued at $38,613,000 after buying an additional 180,043 shares during the period.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $92.61 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of -19.25 and a beta of 0.63. The firm has a 50-day moving average of $103.64 and a two-hundred day moving average of $99.37. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. The firm had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. Blueprint Medicines’s quarterly revenue was up 139.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.19) earnings per share. On average, research analysts forecast that Blueprint Medicines will post -3.99 earnings per share for the current year.

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.