Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $65.00

Blueprint Medicines (NASDAQ:BPMCGet Rating) had its price objective hoisted by SVB Leerink from $56.00 to $65.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. SVB Leerink currently has a market perform rating on the biotechnology company’s stock. SVB Leerink also issued estimates for Blueprint Medicines’ Q4 2022 earnings at ($2.95) EPS, FY2022 earnings at ($10.08) EPS, FY2023 earnings at ($9.94) EPS, FY2024 earnings at ($7.94) EPS, FY2025 earnings at ($6.04) EPS and FY2026 earnings at ($2.54) EPS.

Several other research analysts have also commented on the company. Robert W. Baird dropped their price target on Blueprint Medicines from $123.00 to $96.00 in a research report on Wednesday, May 4th. Piper Sandler dropped their price target on Blueprint Medicines from $65.00 to $59.00 in a research report on Tuesday. Stifel Nicolaus dropped their price target on Blueprint Medicines from $98.00 to $90.00 in a research report on Friday, July 1st. Morgan Stanley dropped their price target on Blueprint Medicines from $92.00 to $65.00 and set an equal weight rating for the company in a research report on Tuesday, June 14th. Finally, Citigroup lowered Blueprint Medicines from a neutral rating to a sell rating and dropped their price target for the stock from $68.00 to $41.00 in a research report on Thursday, June 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $91.47.

Blueprint Medicines Stock Up 5.3 %

Shares of BPMC stock opened at $68.14 on Wednesday. Blueprint Medicines has a 12-month low of $43.46 and a 12-month high of $117.86. The stock’s 50-day moving average price is $54.16 and its 200-day moving average price is $61.29.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last issued its earnings results on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.23) by ($0.45). Blueprint Medicines had a negative return on equity of 45.89% and a negative net margin of 304.41%. The firm had revenue of $36.55 million during the quarter, compared to the consensus estimate of $37.61 million. During the same period last year, the firm posted ($1.86) earnings per share. The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. Equities research analysts predict that Blueprint Medicines will post -9.11 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In related news, insider Percy H. Carter sold 1,908 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $59.76, for a total value of $114,022.08. Following the completion of the sale, the insider now owns 28,685 shares in the company, valued at $1,714,215.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.34% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Large investors have recently modified their holdings of the company. Aigen Investment Management LP purchased a new stake in shares of Blueprint Medicines in the first quarter valued at approximately $570,000. Alliancebernstein L.P. raised its stake in Blueprint Medicines by 7.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,500,745 shares of the biotechnology company’s stock worth $160,745,000 after buying an additional 106,541 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in Blueprint Medicines by 12.6% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 352,243 shares of the biotechnology company’s stock worth $37,728,000 after buying an additional 39,293 shares in the last quarter. Pictet Asset Management SA raised its stake in Blueprint Medicines by 14.6% in the fourth quarter. Pictet Asset Management SA now owns 1,066,612 shares of the biotechnology company’s stock worth $114,245,000 after buying an additional 135,596 shares in the last quarter. Finally, Capital Impact Advisors LLC bought a new position in Blueprint Medicines in the fourth quarter worth approximately $821,000. Hedge funds and other institutional investors own 99.69% of the company’s stock.

About Blueprint Medicines

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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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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