Blueprint Medicines (NASDAQ:BPMC) PT Raised to $168.00 at The Goldman Sachs Group

Blueprint Medicines (NASDAQ:BPMC) had its price target increased by research analysts at The Goldman Sachs Group from $121.00 to $168.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 54.77% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. HC Wainwright lifted their price target on Blueprint Medicines from $125.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Piper Sandler increased their price objective on Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. JMP Securities lifted their target price on Blueprint Medicines from $114.00 to $125.00 and gave the company a “market outperform” rating in a research note on Friday, May 3rd. Finally, Barclays increased their price target on Blueprint Medicines from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $100.31.

Blueprint Medicines Price Performance

BPMC opened at $108.55 on Monday. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $92.17 and its 200 day moving average price is $81.81. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $110.93. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of -22.57 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same quarter in the previous year, the firm posted ($2.65) EPS. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. As a group, sell-side analysts expect that Blueprint Medicines will post -5.38 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the sale, the director now directly owns 176,050 shares of the company’s stock, valued at $15,365,644. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now owns 36,374 shares in the company, valued at $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, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $15,365,644. The disclosure for this sale can be found here. Insiders sold a total of 104,123 shares of company stock valued at $9,554,679 in the last three months. 3.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Readystate Asset Management LP purchased a new position in Blueprint Medicines during the 4th quarter valued at about $3,692,000. American Century Companies Inc. grew its position in Blueprint Medicines by 5.2% during the third quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock valued at $33,696,000 after purchasing an additional 33,243 shares in the last quarter. Diversified Trust Co increased its stake in Blueprint Medicines by 2.9% in the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after buying an additional 318 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Blueprint Medicines by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after buying an additional 757 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Blueprint Medicines by 17.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock valued at $8,371,000 after buying an additional 24,693 shares during the period.

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.