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

Blueprint Medicines Co. (NASDAQ:BPMC) has been given a consensus rating of “Moderate Buy” by the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $123.33.

A number of equities analysts have recently commented on BPMC shares. Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th.

Insider Buying and Selling

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $95.91, for a total transaction of $218,099.34. Following the completion of the sale, the chief operating officer now owns 69,383 shares of the company’s stock, valued at approximately $6,654,523.53. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,720 shares of company stock worth $2,177,846 in the last quarter. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Blueprint Medicines by 22.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after acquiring an additional 729,055 shares during the period. Millennium Management LLC grew its position in shares of Blueprint Medicines by 540.0% during the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after acquiring an additional 529,566 shares during the period. 1832 Asset Management L.P. grew its position in shares of Blueprint Medicines by 200,159.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after acquiring an additional 502,400 shares during the period. State Street Corp grew its position in shares of Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after acquiring an additional 385,818 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after acquiring an additional 306,079 shares during the period.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC opened at $87.43 on Friday. Blueprint Medicines has a 1 year low of $72.24 and a 1 year 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. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of -41.44 and a beta of 0.61. The company’s 50 day simple moving average is $93.42 and its 200 day simple moving average is $95.42.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating 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 posted ($2.20) earnings per share. The company’s quarterly revenue was up 126.5% on a year-over-year basis. As a group, research analysts predict that Blueprint Medicines will post -3.68 EPS for the current fiscal 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.