Blueprint Medicines (NASDAQ:BPMC) PT Raised to $138.00

Blueprint Medicines (NASDAQ:BPMC) had its target price increased by Guggenheim from $130.00 to $138.00 in a report issued on Friday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

BPMC has been the subject of a number of other research reports. Barclays upped their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an equal weight rating in a research report on Monday, July 29th. Wedbush reiterated an outperform rating and issued a $110.00 price target on shares of Blueprint Medicines in a report on Friday, April 26th. Oppenheimer lifted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an outperform rating in a research report on Monday, July 8th. SVB Leerink upgraded shares of Blueprint Medicines from an underperform rating to a market perform rating and lifted their price target for the stock from $50.00 to $97.00 in a report on Monday, May 6th. Finally, Piper Sandler lifted their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $120.00.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded up $1.07 during trading hours on Friday, reaching $94.04. 558,784 shares of the stock were exchanged, compared to its average volume of 729,109. The stock has a market cap of $5.89 billion, a P/E ratio of -19.33 and a beta of 0.63. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $121.90. The firm’s 50 day moving average is $108.55 and its 200 day moving average is $97.42.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. The company had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 176.65%. Blueprint Medicines’s quarterly revenue was up 139.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.19) EPS. Analysts predict that Blueprint Medicines will post -4.67 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Percy H. Carter sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total value of $420,520.00. Following the sale, the insider now directly owns 41,895 shares of the company’s stock, valued at $4,404,421.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Percy H. Carter sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total value of $420,520.00. Following the sale, the insider now directly owns 41,895 shares of the company’s stock, valued at $4,404,421.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider L. Becker Hewes sold 34,108 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $105.91, for a total transaction of $3,612,378.28. Following the sale, the insider now directly owns 36,860 shares in the company, valued at $3,903,842.60. The disclosure for this sale can be found here. Insiders have sold 130,064 shares of company stock valued at $13,716,726 over the last ninety days. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its stake in Blueprint Medicines by 353.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,032 shares of the biotechnology company’s stock valued at $649,000 after buying an additional 5,482 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Blueprint Medicines by 0.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock worth $3,451,000 after purchasing an additional 145 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Blueprint Medicines by 16.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 36,602 shares of the biotechnology company’s stock worth $3,376,000 after buying an additional 5,204 shares during the last quarter. Strs Ohio increased its holdings in Blueprint Medicines by 94.3% in the fourth quarter. Strs Ohio now owns 6,800 shares of the biotechnology company’s stock worth $627,000 after buying an additional 3,300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Blueprint Medicines by 10.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,369 shares of the biotechnology company’s stock worth $1,233,000 after buying an additional 1,314 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.