Blueprint Medicines (NASDAQ:BPMC) Given New $76.00 Price Target at Citigroup

Blueprint Medicines (NASDAQ:BPMC) had its target price increased by equities researchers at Citigroup from $65.00 to $76.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “sell” rating on the biotechnology company’s stock. Citigroup’s target price indicates a potential downside of 29.10% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. JMP Securities raised their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Friday. Stifel Nicolaus increased their price target on Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler lifted their price target on Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price objective on shares of Blueprint Medicines in a research note on Thursday. Finally, Barclays raised their target price on shares of Blueprint Medicines from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.87.

Blueprint Medicines Price Performance

NASDAQ:BPMC opened at $107.19 on Friday. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $110.93. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The business’s 50-day moving average price is $91.77 and its 200 day moving average price is $80.52.

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

Insiders Place Their Bets

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the sale, the insider now directly owns 36,374 shares in the company, valued at approximately $3,406,425.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the sale, the insider now directly owns 36,374 shares in the company, valued at approximately $3,406,425.10. The sale was disclosed in a 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 dated 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 owns 24,495 shares of the company’s stock, valued at $2,449,500. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,289 shares of company stock worth $8,314,163. 3.88% of the stock is currently owned by company insiders.

Institutional Trading of Blueprint Medicines

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Blueprint Medicines during the 1st quarter worth $218,000. Principal Financial Group Inc. boosted its holdings in Blueprint Medicines by 331.9% in the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock worth $5,945,000 after purchasing an additional 48,160 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Blueprint Medicines by 67.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,777 shares of the biotechnology company’s stock worth $1,117,000 after buying an additional 4,745 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in Blueprint Medicines by 2.0% during the first quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company’s stock valued at $8,877,000 after buying an additional 1,810 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Blueprint Medicines by 8.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 36,929 shares of the biotechnology company’s stock worth $3,503,000 after buying an additional 2,884 shares during 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.