Piper Sandler Issues Positive Forecast for Blueprint Medicines (NASDAQ:BPMC) Stock Price

Blueprint Medicines (NASDAQ:BPMC) had its target price upped by Piper Sandler from $109.00 to $119.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Other analysts have also issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. JMP Securities reissued a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, January 15th. Wedbush reaffirmed an “outperform” rating and issued a $124.00 target price (down previously from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.56.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $114.32 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines has a one year low of $72.24 and a one year high of $121.90. The company has a market cap of $7.26 billion, a P/E ratio of -54.18 and a beta of 0.61. The business has a fifty day moving average of $97.07 and a two-hundred day moving average of $95.27.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same period last year, the firm earned ($2.20) EPS. As a group, analysts predict that Blueprint Medicines will post -3.67 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total value of $1,660,584.33. Following the transaction, the director now owns 152,396 shares in the company, valued at approximately $16,691,933.88. This trade represents a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares of the company’s stock, valued at $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,851 shares of company stock worth $4,984,696. 4.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 363 shares in the last quarter. Values First Advisors Inc. raised its position in Blueprint Medicines by 277.9% in the fourth quarter. Values First Advisors Inc. now owns 4,970 shares of the biotechnology company’s stock valued at $433,000 after purchasing an additional 3,655 shares during the period. Stephens Inc. AR acquired a new position in shares of Blueprint Medicines during the fourth quarter worth about $321,000. Jennison Associates LLC acquired a new position in shares of Blueprint Medicines during the fourth quarter worth about $31,417,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Blueprint Medicines by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,470 shares of the biotechnology company’s stock worth $1,175,000 after buying an additional 1,287 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.