Blueprint Medicines Co. (NASDAQ:BPMC) Receives $123.33 Consensus Target Price from Analysts

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) have been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $123.33.

A number of analysts recently commented on BPMC shares. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Monday, December 9th. JPMorgan Chase & Co. began coverage on Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price for the company. Stephens reiterated an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a report on Thursday, January 2nd. Finally, UBS Group began coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company.

Blueprint Medicines Price Performance

BPMC opened at $87.43 on Friday. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90. The company has a fifty day simple moving average of $93.42 and a 200 day simple moving average of $95.42. The stock has a market cap of $5.55 billion, a P/E ratio of -41.44 and a beta of 0.61.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the prior year, the company earned ($2.20) EPS. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. On average, research analysts expect that Blueprint Medicines will post -3.68 EPS for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the sale, the chief executive officer now owns 150,824 shares of the company’s stock, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,720 shares of company stock worth $2,177,846. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BPMC. Wellington Management Group LLP increased its holdings in shares of Blueprint Medicines by 22.5% during the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after purchasing an additional 729,055 shares during the period. Millennium Management LLC increased its stake in Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after acquiring an additional 529,566 shares during the last quarter. 1832 Asset Management L.P. increased its stake in Blueprint Medicines by 200,159.4% in the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after acquiring an additional 502,400 shares during the last quarter. State Street Corp increased its stake in Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after acquiring an additional 385,818 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Blueprint Medicines by 161.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after acquiring an additional 306,079 shares during the last quarter.

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.