Blueprint Medicines Co. (NASDAQ:BPMC) Receives $120.00 Consensus Target Price from Analysts

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $120.00.

A number of equities analysts have weighed in on BPMC shares. Stephens started coverage on shares of Blueprint Medicines in a research report on Tuesday, May 14th. They issued an “overweight” rating and a $140.00 price objective for the company. Barclays upped their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler upped their target price on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Guggenheim upped their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd.

Blueprint Medicines Stock Down 0.2 %

Shares of Blueprint Medicines stock opened at $93.71 on Thursday. The company has a fifty day moving average price of $107.41 and a 200 day moving average price of $97.79. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $121.90. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of -19.48 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. The company had revenue of $138.20 million during the quarter, compared to analysts’ expectations of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 176.65%. The firm’s revenue for the quarter was up 139.9% on a year-over-year basis. During the same period in the prior year, the company posted ($2.19) EPS. Equities research analysts forecast that Blueprint Medicines will post -4.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,870,384.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Debra Durso-Bumpus sold 8,817 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total transaction of $981,243.93. Following the completion of the transaction, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,977 shares of company stock worth $17,622,599. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Blueprint Medicines in the second quarter valued at approximately $593,000. Hsbc Holdings PLC bought a new position in shares of Blueprint Medicines in the second quarter valued at approximately $1,060,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Blueprint Medicines by 12.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,276 shares of the biotechnology company’s stock valued at $461,000 after acquiring an additional 485 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after acquiring an additional 109 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its holdings in shares of Blueprint Medicines by 22.9% in the second quarter. E Fund Management Co. Ltd. now owns 5,768 shares of the biotechnology company’s stock valued at $622,000 after acquiring an additional 1,073 shares in the last quarter.

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.