Brokerages Set Blueprint Medicines Co. (NASDAQ:BPMC) Target Price at $124.95

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been assigned an average rating of “Moderate Buy” from the twenty-three analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $124.95.

A number of research firms have recently weighed in on BPMC. Wolfe Research began coverage on Blueprint Medicines in a research note on Tuesday, March 18th. They set an “outperform” rating for the company. JPMorgan Chase & Co. raised their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and set a $128.00 target price on shares of Blueprint Medicines in a research report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a research report on Thursday, February 13th. Finally, Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They set a “buy” rating and a $135.00 price objective for the company.

Blueprint Medicines Stock Up 0.3 %

BPMC opened at $88.72 on Friday. Blueprint Medicines has a fifty-two week low of $80.68 and a fifty-two week high of $121.90. The business has a 50-day moving average of $99.47 and a 200-day moving average of $93.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The company has a market capitalization of $5.67 billion, a PE ratio of -82.15 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Equities research analysts forecast that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 3,203 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now owns 149,378 shares of the company’s stock, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,334 shares of company stock worth $3,103,512. Company insiders own 4.21% 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 the business. Torray Investment Partners LLC lifted its stake in Blueprint Medicines by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock worth $1,439,000 after purchasing an additional 186 shares during the period. Sherbrooke Park Advisers LLC lifted its stake in Blueprint Medicines by 8.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company’s stock worth $294,000 after purchasing an additional 261 shares during the period. Franklin Resources Inc. lifted its stake in Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after purchasing an additional 265 shares during the period. Summit Investment Advisors Inc. lifted its stake in Blueprint Medicines by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock worth $580,000 after purchasing an additional 283 shares during the period. Finally, Pitcairn Co. lifted its stake in Blueprint Medicines by 2.8% during the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock worth $925,000 after purchasing an additional 293 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.