Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) Price Target at $120.00

Blueprint Medicines Co. (NASDAQ:BPMC) has been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eleven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $120.00.

A number of analysts recently weighed in on BPMC shares. Oppenheimer increased their price objective on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price objective on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Blueprint Medicines in a research note on Thursday, August 1st. Finally, Barclays boosted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th.

Insiders Place Their Bets

In other news, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Debra Durso-Bumpus sold 3,850 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $111.20, for a total value of $428,120.00. Following the sale, the insider now directly owns 43,763 shares in the company, valued at approximately $4,866,445.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC purchased a new stake in shares of Blueprint Medicines during the 2nd quarter valued at $23,817,000. Dana Investment Advisors Inc. raised its stake in Blueprint Medicines by 8.2% in the second quarter. Dana Investment Advisors Inc. now owns 14,744 shares of the biotechnology company’s stock valued at $1,589,000 after buying an additional 1,114 shares during the last quarter. Creative Planning boosted its holdings in Blueprint Medicines by 27.1% in the second quarter. Creative Planning now owns 12,351 shares of the biotechnology company’s stock worth $1,331,000 after acquiring an additional 2,636 shares in the last quarter. Algert Global LLC boosted its holdings in Blueprint Medicines by 81.0% in the second quarter. Algert Global LLC now owns 65,540 shares of the biotechnology company’s stock worth $7,064,000 after acquiring an additional 29,330 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in shares of Blueprint Medicines by 101.0% during the second quarter. Driehaus Capital Management LLC now owns 358,255 shares of the biotechnology company’s stock worth $38,613,000 after acquiring an additional 180,043 shares during the last quarter.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $90.00 on Friday. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of -18.71 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. The stock has a 50 day moving average price of $94.06 and a 200-day moving average price of $99.08. Blueprint Medicines has a one year low of $43.89 and a one year high of $121.90.

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 business had revenue of $138.20 million for 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 157.30%. The business’s revenue was up 139.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.19) earnings per share. Equities analysts expect that Blueprint Medicines will post -3.99 EPS for the current year.

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.