Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) Target Price at $123.56

Shares of Blueprint Medicines Co. (NASDAQ:BPMCGet Free Report) have been given an average rating of “Moderate Buy” by the twenty analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $123.56.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. started coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective for the company. Piper Sandler increased their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Wedbush reissued an “outperform” rating and set a $124.00 price objective (down previously from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Stephens restated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd.

View Our Latest Analysis on Blueprint Medicines

Insider Buying and Selling at Blueprint Medicines

In related news, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the completion of the sale, the insider now directly owns 14,967 shares in the company, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,851 shares of company stock worth $4,984,696. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Hedge funds have recently modified their holdings of the business. Empirical Asset Management LLC purchased a new position in Blueprint Medicines during the fourth quarter valued at $2,348,000. Massachusetts Financial Services Co. MA raised its stake in shares of Blueprint Medicines by 48.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock worth $23,332,000 after buying an additional 82,693 shares during the period. Entropy Technologies LP purchased a new position in shares of Blueprint Medicines during the 3rd quarter valued at about $999,000. Algert Global LLC grew its stake in shares of Blueprint Medicines by 40.7% during the 3rd quarter. Algert Global LLC now owns 92,236 shares of the biotechnology company’s stock valued at $8,532,000 after acquiring an additional 26,696 shares during the period. Finally, Ally Bridge Group NY LLC increased its holdings in Blueprint Medicines by 40.2% in the 3rd quarter. Ally Bridge Group NY LLC now owns 106,080 shares of the biotechnology company’s stock worth $9,812,000 after acquiring an additional 30,442 shares in the last quarter.

Blueprint Medicines Trading Down 1.3 %

NASDAQ:BPMC opened at $112.53 on Thursday. The company has a 50-day moving average price of $97.78 and a 200-day moving average price of $95.18. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of -53.33 and a beta of 0.61. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMCGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the business posted ($2.20) earnings per share. Blueprint Medicines’s quarterly revenue was up 126.5% compared to the same quarter last year. Equities analysts predict that Blueprint Medicines will post -3.68 EPS for the current year.

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.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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