Blueprint Medicines (NASDAQ:BPMC) Given New $125.00 Price Target at JMP Securities

Blueprint Medicines (NASDAQ:BPMC) had its price objective increased by JMP Securities from $114.00 to $125.00 in a report issued on Friday morning, Benzinga reports. They currently have a market outperform rating on the biotechnology company’s stock.

BPMC has been the subject of a number of other research reports. Barclays lifted their target price on Blueprint Medicines from $70.00 to $75.00 and gave the stock an equal weight rating in a report on Friday. HC Wainwright raised their target price on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a buy rating in a research report on Friday. Needham & Company LLC reissued a buy rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Thursday. Piper Sandler upped their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a research note on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines has a consensus rating of Hold and a consensus price target of $94.87.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $107.19 on Friday. The stock’s 50-day moving average price is $91.77 and its 200-day moving average price is $80.52. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $110.93. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 215.07%. The company had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. During the same quarter in the previous year, the business posted ($2.65) earnings per share. Blueprint Medicines’s quarterly revenue was up 85.5% on a year-over-year basis. Analysts expect that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the sale, the director now owns 176,050 shares of the company’s stock, valued at $15,365,644. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the sale, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Murray sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 24,495 shares in the company, valued at $2,449,500. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock valued at $8,314,163 in the last ninety days. Corporate insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Readystate Asset Management LP purchased a new position in shares of Blueprint Medicines during the fourth quarter worth $3,692,000. American Century Companies Inc. increased its holdings in shares of Blueprint Medicines by 5.2% during the 3rd quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock valued at $33,696,000 after purchasing an additional 33,243 shares in the last quarter. Diversified Trust Co raised its position in shares of Blueprint Medicines by 2.9% in the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after acquiring an additional 318 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Blueprint Medicines by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 757 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in Blueprint Medicines by 17.4% during the third quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock worth $8,371,000 after acquiring an additional 24,693 shares during the period.

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.