Blueprint Medicines (NASDAQ:BPMC) Price Target Increased to $76.00 by Analysts at Citigroup

Blueprint Medicines (NASDAQ:BPMC) had its price objective hoisted by Citigroup from $65.00 to $76.00 in a report issued on Friday, Benzinga reports. They currently have a sell rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price objective 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. JMP Securities upped their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company a market outperform rating in a report on Friday. Barclays upped their price objective on shares of Blueprint Medicines from $70.00 to $75.00 and gave the company an equal weight rating in a research report on Friday. Wedbush reaffirmed an outperform rating and set a $110.00 price objective on shares of Blueprint Medicines in a research report on Friday, April 26th. Finally, HC Wainwright upped their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the company a buy rating in a research report on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines presently has an average rating of Moderate Buy and a consensus target price of $100.31.

Blueprint Medicines Trading Down 0.9 %

Blueprint Medicines stock opened at $106.25 on Friday. The company’s fifty day simple moving average is $91.77 and its 200-day simple moving average is $80.95. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $110.93. The stock has a market cap of $6.50 billion, a P/E ratio of -22.14 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The firm had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. Blueprint Medicines’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same period in the prior year, the company posted ($2.65) earnings per share. As a group, sell-side analysts forecast that Blueprint Medicines will post -5.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now directly owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Kate Haviland sold 12,464 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the sale, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at $13,891,622.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher K. Murray sold 621 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now directly owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,123 shares of company stock valued at $9,554,679. 3.88% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Blueprint Medicines by 0.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after acquiring an additional 145 shares during the last quarter. Van ECK Associates Corp boosted its stake in Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 193 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Blueprint Medicines by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after acquiring an additional 247 shares during the last quarter. Diversified Trust Co boosted its stake in Blueprint Medicines by 2.9% in the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after acquiring an additional 318 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 329 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.