Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $168.00

Blueprint Medicines (NASDAQ:BPMC) had its target price upped by The Goldman Sachs Group from $121.00 to $168.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

BPMC has been the subject of a number of other research reports. JMP Securities boosted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock a market outperform rating in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a buy rating and set a $97.00 price objective on shares of Blueprint Medicines in a research report on Thursday, May 2nd. Stifel Nicolaus raised their target price on Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a research report on Friday, April 26th. Piper Sandler upped their price target on Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a report on Friday, May 3rd. Finally, Barclays raised their price objective on shares of Blueprint Medicines from $70.00 to $75.00 and gave the stock an equal weight rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $100.31.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $108.78 on Monday. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $110.93. The stock has a market capitalization of $6.66 billion, a PE ratio of -22.62 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The stock has a 50-day simple moving average of $92.44 and a 200-day simple moving average of $82.00.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results 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 net margin of 102.15% and a negative return on equity of 193.48%. The firm had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. During the same quarter last year, the company earned ($2.65) earnings per share. The firm’s revenue was up 85.5% compared to the same quarter last year. On average, analysts predict that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now directly owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the sale, the insider now owns 36,374 shares in the company, valued at approximately $3,406,425.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher K. Murray sold 5,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 24,495 shares of the company’s stock, valued at $2,449,500. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,123 shares of company stock worth $9,554,679. Company insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of Blueprint Medicines by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company’s stock valued at $13,396,000 after buying an additional 4,127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Blueprint Medicines by 9.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,055 shares of the biotechnology company’s stock worth $605,000 after purchasing an additional 1,052 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Blueprint Medicines by 4.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,269 shares of the biotechnology company’s stock worth $1,872,000 after purchasing an additional 1,417 shares during the period. Emerald Advisers LLC increased its holdings in shares of Blueprint Medicines by 22.4% in the 3rd quarter. Emerald Advisers LLC now owns 607,037 shares of the biotechnology company’s stock valued at $30,485,000 after purchasing an additional 110,984 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in Blueprint Medicines by 12.3% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 464,321 shares of the biotechnology company’s stock worth $23,318,000 after buying an additional 50,994 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.