Wedbush Reiterates “Outperform” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMCGet Free Report)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report released on Monday, RTT News reports. They presently have a $97.00 price objective on the biotechnology company’s stock. Wedbush’s target price points to a potential upside of 25.70% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. JMP Securities restated a “market outperform” rating and set a $114.00 target price on shares of Blueprint Medicines in a research report on Tuesday, January 16th. Morgan Stanley upped their target price on Blueprint Medicines from $59.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. Raymond James upped their target price on Blueprint Medicines from $85.00 to $100.00 and gave the company a “strong-buy” rating in a research report on Friday, December 22nd. Oppenheimer upgraded Blueprint Medicines from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Friday, October 27th. Finally, Stifel Nicolaus increased their price target on Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Get Our Latest Analysis on BPMC

Blueprint Medicines Trading Up 0.7 %

Shares of BPMC stock opened at $77.17 on Monday. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -8.40 and a beta of 0.61. The stock has a 50-day moving average of $82.45 and a 200-day moving average of $63.81. The company has a current ratio of 4.09, a quick ratio of 4.01 and a debt-to-equity ratio of 1.03. Blueprint Medicines has a 1-year low of $37.82 and a 1-year high of $94.00.

Insider Activity

In related news, insider Ariel Hurley sold 714 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $90.00, for a total transaction of $64,260.00. Following the completion of the sale, the insider now directly owns 14,324 shares of the company’s stock, valued at $1,289,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ariel Hurley sold 714 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $90.00, for a total transaction of $64,260.00. Following the completion of the sale, the insider now directly owns 14,324 shares of the company’s stock, valued at $1,289,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 25,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $81.91, for a total value of $2,047,750.00. Following the sale, the director now directly owns 176,050 shares of the company’s stock, valued at $14,420,255.50. The disclosure for this sale can be found here. Insiders have sold 51,314 shares of company stock worth $3,895,268 over the last 90 days. 3.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

A number of large investors have recently bought and sold shares of BPMC. PNC Financial Services Group Inc. grew its position in shares of Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 329 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in shares of Blueprint Medicines in the second quarter valued at $46,000. Cutler Group LLC CA grew its position in shares of Blueprint Medicines by 1,685.7% in the third quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 944 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Blueprint Medicines in the fourth quarter valued at $57,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Blueprint Medicines in the first quarter valued at $63,000.

About Blueprint Medicines

(Get Free Report)

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; and Fisogatinib.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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