Blueprint Medicines (NASDAQ:BPMC) Price Target Increased to $76.00 by Analysts at Citigroup

Blueprint Medicines (NASDAQ:BPMC) had its target price hoisted by Citigroup from $65.00 to $76.00 in a research note issued to investors on Friday morning, Benzinga reports. Citigroup currently has a sell rating on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a buy rating and issued a $97.00 price target on shares of Blueprint Medicines in a report on Thursday. Stifel Nicolaus boosted their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, April 26th. Wedbush reiterated an outperform rating and set a $110.00 price objective on shares of Blueprint Medicines in a research note on Friday, April 26th. Barclays boosted their price objective on shares of Blueprint Medicines from $70.00 to $75.00 and gave the stock an equal weight rating in a research note on Friday. Finally, HC Wainwright boosted their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a buy rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $94.87.

Blueprint Medicines Stock Up 0.2 %

BPMC traded up $0.19 on Friday, reaching $107.19. 1,004,153 shares of the company traded hands, compared to its average volume of 698,730. Blueprint Medicines has a one year low of $43.89 and a one year high of $110.93. The firm has a fifty day simple moving average of $91.77 and a two-hundred day simple moving average of $80.52. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 215.07%. The company had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same quarter last year, the business posted ($2.65) EPS. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. Sell-side analysts predict that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the sale, the director now owns 176,050 shares in the company, valued at $15,365,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Michael Landsittel sold 13,734 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $87.78, for a total transaction of $1,205,570.52. Following the sale, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at $4,150,765.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the sale, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock worth $8,314,163 over the last 90 days. 3.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new position in Blueprint Medicines during the fourth quarter valued at $69,000. PNC Financial Services Group Inc. lifted its stake in shares of Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after buying an additional 329 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares in the last quarter. Cutler Group LLC CA lifted its stake in shares of Blueprint Medicines by 1,685.7% in the third quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after buying an additional 944 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Blueprint Medicines in the fourth quarter worth about $95,000.

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.