Blueprint Medicines (NASDAQ:BPMC) PT Raised to $135.00 at HC Wainwright

Blueprint Medicines (NASDAQ:BPMC) had its price objective increased by investment analysts at HC Wainwright from $125.00 to $135.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 25.94% from the stock’s previous close.

A number of other brokerages have also issued reports on BPMC. JMP Securities reissued a “market outperform” rating and set a $114.00 price target on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Barclays lifted their target price on Blueprint Medicines from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday. Stifel Nicolaus upped their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Piper Sandler lifted their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a “neutral” rating in a report on Friday. Finally, Citigroup upped their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.87.

Blueprint Medicines Price Performance

Blueprint Medicines stock traded up $0.19 during mid-day trading on Friday, reaching $107.19. 1,004,153 shares of the company’s stock traded hands, compared to its average volume of 698,730. 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. The stock has a 50 day moving average of $91.77 and a two-hundred day moving average of $80.73. The company has a market cap of $6.56 billion, a price-to-earnings ratio of -22.28 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 215.07% and a negative net margin of 102.15%. The firm had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. During the same quarter in the previous year, the company posted ($2.65) EPS. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. Equities analysts forecast that Blueprint Medicines will post -5.38 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently bought and sold shares of BPMC. Bank of New York Mellon Corp lifted its stake in shares of Blueprint Medicines by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company’s stock worth $13,396,000 after buying an additional 4,127 shares during the period. Brown Advisory Inc. lifted its position in Blueprint Medicines by 0.9% during the 3rd quarter. Brown Advisory Inc. now owns 641,039 shares of the biotechnology company’s stock worth $32,193,000 after acquiring an additional 5,843 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Blueprint Medicines by 9.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,055 shares of the biotechnology company’s stock valued at $605,000 after purchasing an additional 1,052 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Blueprint Medicines by 4.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,269 shares of the biotechnology company’s stock valued at $1,872,000 after purchasing an additional 1,417 shares during the period. Finally, Emerald Advisers LLC raised its stake in shares of Blueprint Medicines by 22.4% in the third quarter. Emerald Advisers LLC now owns 607,037 shares of the biotechnology company’s stock worth $30,485,000 after purchasing an additional 110,984 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.