Blueprint Medicines (NASDAQ:BPMC) PT Raised to $135.00

Blueprint Medicines (NASDAQ:BPMC) had its price objective raised by equities research analysts at HC Wainwright from $125.00 to $135.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 25.94% from the stock’s current price.

Several other research firms have also weighed in on BPMC. Citigroup upped their price objective on Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research note on Friday, February 16th. Barclays boosted their target price on Blueprint Medicines from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. Stifel Nicolaus boosted their target price on Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a report on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $94.87.

Blueprint Medicines Stock Performance

BPMC traded up $0.19 on Friday, hitting $107.19. 991,766 shares of the stock traded hands, compared to its average volume of 778,131. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $110.93. The firm has a market capitalization of $6.56 billion, a PE ratio of -12.82 and a beta of 0.65. The business has a fifty day moving average price of $91.42 and a two-hundred day moving average price of $80.11. 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 released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The company had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same period in the prior year, the company posted ($2.65) EPS. The company’s revenue was up 85.5% compared to the same quarter last year. On average, research analysts predict that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michael Landsittel sold 5,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the transaction, the chief financial officer now owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jeffrey W. Albers sold 25,073 shares of the company’s 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 completion of the sale, the director now owns 176,050 shares in the company, valued at approximately $15,365,644. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the completion of the sale, the chief financial officer now owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The disclosure for this sale can be found here. Insiders have sold a total of 92,289 shares of company stock valued at $8,314,163 in the last 90 days. 3.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds have recently modified their holdings of BPMC. Norges Bank bought a new position in shares of Blueprint Medicines in the 4th quarter valued at about $55,893,000. Polar Capital Holdings Plc grew its holdings in shares of Blueprint Medicines by 108.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after acquiring an additional 540,000 shares in the last quarter. Rock Springs Capital Management LP grew its holdings in shares of Blueprint Medicines by 22.8% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after acquiring an additional 498,622 shares in the last quarter. Avidity Partners Management LP grew its holdings in shares of Blueprint Medicines by 81.1% in the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after acquiring an additional 336,600 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Blueprint Medicines by 2,788.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock valued at $24,873,000 after acquiring an additional 260,321 shares in the last quarter.

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.