Blueprint Medicines (NASDAQ:BPMC) PT Raised to $76.00

Blueprint Medicines (NASDAQ:BPMC) had its price objective hoisted by analysts at Citigroup from $65.00 to $76.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the biotechnology company’s stock. Citigroup’s price target indicates a potential downside of 29.10% from the stock’s current price.

Several other equities analysts have also commented on the company. JMP Securities upped their price target on Blueprint Medicines from $114.00 to $125.00 and gave the company a “market outperform” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $110.00 target price on shares of Blueprint Medicines in a research note on Friday, April 26th. Piper Sandler boosted their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a report on Thursday. Finally, Stifel Nicolaus upped their price target on Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines has an average rating of “Hold” and a consensus price target of $94.87.

Blueprint Medicines Trading Up 0.2 %

Shares of BPMC opened at $107.19 on Friday. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $110.93. The firm has a 50-day moving average price of $91.77 and a 200 day moving average price of $80.52. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly 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 215.07%. The business had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. During the same quarter in the prior year, the company posted ($2.65) EPS. The business’s revenue for the quarter was up 85.5% on a year-over-year basis. On average, sell-side analysts expect that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kate Haviland sold 12,464 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the sale, the chief executive officer now directly owns 153,177 shares in the company, valued at $13,891,622.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Kate Haviland sold 12,464 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the completion of the transaction, the chief executive officer now owns 153,177 shares in the company, valued at $13,891,622.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Christina Rossi sold 6,070 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $550,488.30. Following the completion of the transaction, the chief operating officer now directly owns 64,306 shares in the company, valued at approximately $5,831,911.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,289 shares of company stock worth $8,314,163. 3.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Blueprint Medicines by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company’s stock worth $13,396,000 after purchasing an additional 4,127 shares in the last quarter. Brown Advisory Inc. raised its stake in Blueprint Medicines by 0.9% during the 3rd quarter. Brown Advisory Inc. now owns 641,039 shares of the biotechnology company’s stock worth $32,193,000 after acquiring an additional 5,843 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Blueprint Medicines by 9.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,055 shares of the biotechnology company’s stock valued at $605,000 after acquiring an additional 1,052 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Blueprint Medicines by 4.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,269 shares of the biotechnology company’s stock valued at $1,872,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Emerald Advisers LLC grew its holdings in shares of Blueprint Medicines by 22.4% during the third quarter. Emerald Advisers LLC now owns 607,037 shares of the biotechnology company’s stock worth $30,485,000 after purchasing an additional 110,984 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.