Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) Price Target at $124.95

Blueprint Medicines Co. (NASDAQ:BPMC) has been given a consensus rating of “Moderate Buy” by the twenty-three brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $124.95.

A number of research firms have issued reports on BPMC. Needham & Company LLC restated a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Wolfe Research initiated coverage on Blueprint Medicines in a research note on Tuesday, March 18th. They set an “outperform” rating on the stock. Finally, Stephens reaffirmed an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $89.73 on Friday. The firm has a fifty day simple moving average of $98.55 and a two-hundred day simple moving average of $93.92. Blueprint Medicines has a twelve month low of $80.68 and a twelve month high of $121.90. The company has a market capitalization of $5.73 billion, a PE ratio of -83.08 and a beta of 0.58. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Research analysts expect that Blueprint Medicines will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now owns 69,266 shares of the company’s stock, valued at $6,581,655.32. The trade was a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the sale, the insider now directly owns 18,270 shares in the company, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,608 shares of company stock valued at $3,319,587. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Blueprint Medicines during the 3rd quarter valued at $32,000. R Squared Ltd purchased a new stake in shares of Blueprint Medicines during the fourth quarter valued at $51,000. Headlands Technologies LLC bought a new stake in Blueprint Medicines in the 4th quarter worth about $65,000. Thematics Asset Management bought a new stake in Blueprint Medicines in the 4th quarter worth about $72,000. Finally, Covestor Ltd raised its position in Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after buying an additional 375 shares during 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.