Barclays Trims Blueprint Medicines (NASDAQ:BPMC) Target Price to $44.00

Blueprint Medicines (NASDAQ:BPMC – Get Rating) had its target price cut by Barclays from $50.00 to $44.00 in a research note released on Monday, Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

Several other brokerages have also commented on BPMC. SVB Leerink decreased their price target on Blueprint Medicines from $57.00 to $52.00 and set a market perform rating on the stock in a research note on Wednesday, November 2nd. HC Wainwright decreased their price target on Blueprint Medicines from $80.00 to $70.00 and set a buy rating on the stock in a research note on Wednesday, November 2nd. JMP Securities decreased their price target on Blueprint Medicines from $152.00 to $114.00 and set a market outperform rating on the stock in a research note on Friday, November 4th. Oppenheimer lowered Blueprint Medicines from an outperform rating to a market perform rating in a research note on Wednesday, November 2nd. Finally, Wells Fargo & Company raised Blueprint Medicines from an underweight rating to an equal weight rating and set a $41.00 price target on the stock in a research note on Monday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of Moderate Buy and a consensus price target of $79.50.

Blueprint Medicines Price Performance

Shares of BPMC opened at $46.51 on Monday. Blueprint Medicines has a twelve month low of $40.78 and a twelve month high of $85.67. The stock’s 50 day moving average is $45.60 and its two-hundred day moving average is $55.13. The firm has a market capitalization of $2.78 billion, a PE ratio of -3.84 and a beta of 0.64. The company has a current ratio of 6.99, a quick ratio of 6.79 and a debt-to-equity ratio of 0.19.

Blueprint Medicines (NASDAQ:BPMC – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The biotechnology company reported ($2.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.51) by $0.28. Blueprint Medicines had a negative return on equity of 56.45% and a negative net margin of 263.54%. The company had revenue of $65.98 million for the quarter, compared to analyst estimates of $43.49 million. Research analysts anticipate that Blueprint Medicines will post -9.38 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland purchased 1,100 shares of the business’s stock in a transaction on Thursday, November 3rd. The stock was bought at an average cost of $43.98 per share, for a total transaction of $48,378.00. Following the acquisition, the chief executive officer now owns 92,281 shares of the company’s stock, valued at approximately $4,058,518.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 20,000 shares of the business’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $50.09, for a total value of $1,001,800.00. Following the completion of the transaction, the director now directly owns 183,243 shares in the company, valued at approximately $9,178,641.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kate Haviland acquired 1,100 shares of the company’s stock in a transaction dated Thursday, November 3rd. The shares were purchased at an average price of $43.98 per share, with a total value of $48,378.00. Following the completion of the acquisition, the chief executive officer now owns 92,281 shares in the company, valued at $4,058,518.38. The disclosure for this purchase can be found here. 3.42% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently made changes to their positions in BPMC. Raymond James & Associates increased its holdings in shares of Blueprint Medicines by 18.6% during the 1st quarter. Raymond James & Associates now owns 31,565 shares of the biotechnology company’s stock worth $2,016,000 after buying an additional 4,945 shares during the last quarter. US Bancorp DE increased its holdings in shares of Blueprint Medicines by 11.4% during the 1st quarter. US Bancorp DE now owns 7,234 shares of the biotechnology company’s stock worth $463,000 after buying an additional 743 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Blueprint Medicines by 53.9% during the 1st quarter. MetLife Investment Management LLC now owns 31,782 shares of the biotechnology company’s stock worth $2,030,000 after buying an additional 11,131 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Blueprint Medicines by 1.5% during the 1st quarter. Rhumbline Advisers now owns 63,434 shares of the biotechnology company’s stock worth $4,052,000 after buying an additional 924 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Blueprint Medicines by 0.9% during the 1st quarter. BlackRock Inc. now owns 5,383,138 shares of the biotechnology company’s stock worth $343,876,000 after buying an additional 46,264 shares during the last quarter.

Blueprint Medicines Company Profile

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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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.