Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) Price Target at $123.33

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been given an average recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $123.33.

A number of equities analysts have weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday, December 9th. Wells Fargo & Company reduced their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price objective on the stock. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th.

Blueprint Medicines Trading Up 5.4 %

NASDAQ:BPMC opened at $94.37 on Friday. The business’s 50-day moving average is $93.39 and its two-hundred day moving average is $95.70. The firm has a market capitalization of $5.99 billion, a PE ratio of -44.72 and a beta of 0.61. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27.

Blueprint Medicines (NASDAQ:BPMC) last announced its 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 business had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company’s revenue was up 126.5% on a year-over-year basis. During the same period last year, the business posted ($2.20) EPS. Research analysts predict that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey W. Albers sold 15,000 shares of Blueprint Medicines stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total value of $1,346,550.00. Following the transaction, the director now owns 157,557 shares in the company, valued at approximately $14,143,891.89. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,720 shares of company stock valued at $2,177,846. Insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Large investors have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in shares of Blueprint Medicines by 5.3% during the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after purchasing an additional 109 shares during the last quarter. Van ECK Associates Corp boosted its stake in Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 131 shares during the period. Pallas Capital Advisors LLC grew its position in Blueprint Medicines by 3.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after purchasing an additional 176 shares in the last quarter. Clarus Wealth Advisors raised its stake in Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after purchasing an additional 206 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Blueprint Medicines by 5.2% during the 2nd quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company’s stock valued at $527,000 after purchasing an additional 243 shares during the period.

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.