Blueprint Medicines Co. (NASDAQ:BPMC) Receives $120.00 Average Price Target from Brokerages

Blueprint Medicines Co. (NASDAQ:BPMC) has earned an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $120.00.

BPMC has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Guggenheim lifted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays upped 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. Oppenheimer lifted 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. Finally, Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Blueprint Medicines in a research report on Thursday, August 1st.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Blueprint Medicines

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Blueprint Medicines by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after buying an additional 195,007 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock valued at $592,954,000 after acquiring an additional 821,868 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Blueprint Medicines by 4.2% in the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after purchasing an additional 32,600 shares in the last quarter. Millennium Management LLC increased its position in Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after purchasing an additional 529,566 shares during the last quarter. Finally, Hood River Capital Management LLC raised its stake in Blueprint Medicines by 7.0% during the second quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock valued at $54,194,000 after purchasing an additional 32,694 shares in the last quarter.

Blueprint Medicines Price Performance

BPMC opened at $90.00 on Friday. The firm has a market cap of $5.64 billion, a PE ratio of -18.71 and a beta of 0.58. 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 1 year low of $43.89 and a 1 year high of $121.90. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.49. The firm had revenue of $138.20 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.19) earnings per share. Sell-side analysts predict that Blueprint Medicines will post -3.99 earnings per share for the current fiscal 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.