Barclays Boosts Blueprint Medicines (NASDAQ:BPMC) Price Target to $75.00

Blueprint Medicines (NASDAQ:BPMC) had its price objective lifted by Barclays from $70.00 to $75.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the biotechnology company’s stock.

Several other research firms also recently issued reports on BPMC. Citigroup increased their price objective on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a report on Friday, February 16th. HC Wainwright reiterated a buy rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. Piper Sandler increased their target price on Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a report on Friday. Needham & Company LLC reaffirmed a buy rating and issued a $97.00 price target on shares of Blueprint Medicines in a research note on Thursday. Finally, JMP Securities reissued a market outperform rating and issued a $114.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $94.87.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $107.19 on Friday. The firm has a market cap of $6.56 billion, a PE ratio of -22.28 and a beta of 0.65. The business has a 50-day moving average price of $91.77 and a 200 day moving average price of $80.73. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 215.07% and a negative net margin of 102.15%. The business had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same period in the prior year, the company posted ($2.65) EPS. The business’s quarterly revenue was up 85.5% on a year-over-year basis. Sell-side analysts predict that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $15,365,644. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Jeffrey W. Albers sold 25,073 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the transaction, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock valued at $8,314,163 over the last ninety days. Company insiders own 3.88% of the company’s stock.

Institutional Trading of Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in Blueprint Medicines by 63.4% during 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 during the period. Cutler Group LLC CA lifted its holdings in shares of Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 944 shares during the last quarter. Compass Wealth Management LLC acquired a new position in shares of Blueprint Medicines in the 4th quarter worth approximately $69,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Blueprint Medicines by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 757 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares during the last quarter.

About Blueprint Medicines

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.