Morgan Stanley Raises Blueprint Medicines (NASDAQ:BPMC) Price Target to $115.00

Blueprint Medicines (NASDAQ:BPMC) had its price objective lifted by Morgan Stanley from $110.00 to $115.00 in a report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler boosted their target price on Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Wedbush reissued an outperform rating and issued a $110.00 target price on shares of Blueprint Medicines in a research note on Friday, April 26th. Stephens started coverage on Blueprint Medicines in a research note on Tuesday, May 14th. They set an overweight rating and a $140.00 price target on the stock. Stifel Nicolaus increased their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a report on Friday, April 26th. Finally, Citigroup lifted their target price on Blueprint Medicines from $65.00 to $76.00 and gave the company a sell rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $116.33.

Blueprint Medicines Trading Down 0.0 %

NASDAQ:BPMC opened at $117.78 on Friday. The company has a market capitalization of $7.38 billion, a PE ratio of -24.49 and a beta of 0.63. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $120.32. The stock’s 50 day moving average price is $106.88 and its 200 day moving average price is $94.53. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.32. The firm had revenue of $96.12 million for the quarter, compared to analyst estimates of $82.58 million. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. On average, research analysts anticipate that Blueprint Medicines will post -5.16 EPS for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Ariel Hurley sold 1,834 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the transaction, the insider now directly owns 14,913 shares in the company, valued at approximately $1,549,162.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Debra Durso-Bumpus sold 74,034 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The disclosure for this sale can be found here. Insiders have sold 141,898 shares of company stock worth $14,957,242 in the last three months. 4.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Blueprint Medicines by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after acquiring an additional 821,868 shares during the period. Norges Bank acquired a new position in Blueprint Medicines during the fourth quarter valued at $55,893,000. Assenagon Asset Management S.A. lifted its position in shares of Blueprint Medicines by 2,788.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock worth $24,873,000 after purchasing an additional 260,321 shares in the last quarter. Vanguard Group Inc. lifted its position in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after buying an additional 195,007 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Blueprint Medicines by 3.2% during the third quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after purchasing an additional 156,807 shares during 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.