SVB Leerink Boosts Blueprint Medicines (NASDAQ:BPMC) Price Target to $127.00


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Blueprint Medicines (NASDAQ:BPMC) had its price objective hoisted by analysts at SVB Leerink from $121.00 to $127.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. SVB Leerink’s target price would indicate a potential upside of 22.15% from the stock’s current price. SVB Leerink also issued estimates for Blueprint Medicines’ FY2025 earnings at $7.64 EPS.

A number of other brokerages also recently commented on BPMC. Piper Sandler boosted their price objective on shares of Blueprint Medicines from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Stifel Nicolaus began coverage on shares of Blueprint Medicines in a research report on Wednesday, December 2nd. They set a “hold” rating and a $110.00 price objective on the stock. HC Wainwright boosted their price objective on shares of Blueprint Medicines from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Jefferies Financial Group downgraded shares of Blueprint Medicines from a “buy” rating to a “hold” rating and boosted their price objective for the company from $90.00 to $96.00 in a research report on Monday, November 2nd. Finally, Morgan Stanley downgraded shares of Blueprint Medicines from an “overweight” rating to an “equal weight” rating and set a $112.00 price objective on the stock. in a research report on Friday, October 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Blueprint Medicines presently has a consensus rating of “Buy” and a consensus target price of $109.00.

BPMC stock opened at $103.97 on Tuesday. Blueprint Medicines has a 52 week low of $43.29 and a 52 week high of $125.61. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 19.18 and a beta of 0.92. The firm’s 50-day moving average is $112.27 and its two-hundred day moving average is $92.00.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Tuesday, November 3rd. The biotechnology company reported $11.16 EPS for the quarter, topping analysts’ consensus estimates of $6.49 by $4.67. Blueprint Medicines had a net margin of 41.08% and a return on equity of 43.72%. The company had revenue of $745.10 million for the quarter, compared to the consensus estimate of $627.42 million. During the same period in the previous year, the firm earned ($1.93) EPS. Blueprint Medicines’s revenue was up 8087.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Blueprint Medicines will post 5.47 EPS for the current year.

In other news, Director Mark Alan Goldberg sold 5,455 shares of the firm’s stock in a transaction dated Thursday, December 24th. The shares were sold at an average price of $125.00, for a total value of $681,875.00. Following the transaction, the director now owns 9,017 shares of the company’s stock, valued at approximately $1,127,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christina Rossi sold 345 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $99.69, for a total transaction of $34,393.05. Following the completion of the transaction, the insider now directly owns 20,020 shares in the company, valued at approximately $1,995,793.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock worth $4,036,317. Insiders own 3.81% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of BPMC. Natixis bought a new position in shares of Blueprint Medicines in the 3rd quarter valued at about $30,577,000. JPMorgan Chase & Co. raised its stake in Blueprint Medicines by 22.6% during the third quarter. JPMorgan Chase & Co. now owns 1,366,712 shares of the biotechnology company’s stock worth $125,149,000 after acquiring an additional 251,884 shares in the last quarter. Alkeon Capital Management LLC raised its stake in Blueprint Medicines by 26.0% during the third quarter. Alkeon Capital Management LLC now owns 897,500 shares of the biotechnology company’s stock worth $83,198,000 after acquiring an additional 185,000 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Blueprint Medicines by 34.3% during the third quarter. Lord Abbett & CO. LLC now owns 417,304 shares of the biotechnology company’s stock worth $38,684,000 after acquiring an additional 106,645 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Blueprint Medicines during the third quarter worth about $7,998,000.

About Blueprint Medicines

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in genomically defined cancers, rare diseases, and cancer immunotherapy. The company is developing avapritinib 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; and fisogatinib, an orally available and potent inhibitor, which is in Phase I clinical trials for the treatment of advanced hepatocellular carcinoma.

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