Blueprint Medicines (NASDAQ:BPMC) PT Raised to $138.00

Blueprint Medicines (NASDAQ:BPMC) had its price target boosted by Guggenheim from $130.00 to $138.00 in a research note released on Friday, Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

A number of other research firms have also recently commented on BPMC. Oppenheimer boosted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an outperform rating in a research note on Monday, July 8th. SVB Leerink upgraded shares of Blueprint Medicines from an underperform rating to a market perform rating and upped their price target for the company from $50.00 to $97.00 in a report on Monday, May 6th. Morgan Stanley upped their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an equal weight rating in a report on Friday, July 12th. HC Wainwright upped their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a buy rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus increased their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $120.00.

Blueprint Medicines Stock Up 1.2 %

Shares of BPMC traded up $1.07 during trading hours on Friday, reaching $94.04. 558,784 shares of the stock traded hands, compared to its average volume of 729,109. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $108.55 and a 200 day simple moving average of $97.42. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $121.90. The company has a market cap of $5.89 billion, a price-to-earnings ratio of -19.33 and a beta of 0.63.

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

Insiders Place Their Bets

In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider L. Becker Hewes sold 4,922 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $106.43, for a total transaction of $523,848.46. Following the sale, the insider now directly owns 31,938 shares of the company’s stock, valued at $3,399,161.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,064 shares of company stock worth $13,716,726. Company insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Blueprint Medicines by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after purchasing an additional 195,007 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Blueprint Medicines by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after buying an additional 821,868 shares during the period. Brown Advisory Inc. boosted its stake in Blueprint Medicines by 6.1% during the fourth quarter. Brown Advisory Inc. now owns 679,920 shares of the biotechnology company’s stock worth $62,716,000 after buying an additional 38,881 shares during the period. Norges Bank bought a new stake in shares of Blueprint Medicines during the fourth quarter worth $55,893,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Blueprint Medicines by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 476,063 shares of the biotechnology company’s stock worth $43,912,000 after purchasing an additional 7,646 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.