Blueprint Medicines Co. (NASDAQ:BPMC) Receives $120.00 Average Target Price from Analysts

Shares of Blueprint Medicines Co. (NASDAQ:BPMCGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $120.00.

A number of research firms recently weighed in on BPMC. Morgan Stanley lifted their target price on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Barclays lifted their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Guggenheim lifted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, June 7th. Finally, Oppenheimer lifted their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, July 8th.

Get Our Latest Stock Report on Blueprint Medicines

Blueprint Medicines Stock Down 3.0 %

BPMC stock opened at $88.07 on Friday. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $121.90. The company has a market cap of $5.51 billion, a PE ratio of -18.31 and a beta of 0.58. The business’s 50-day simple moving average is $93.58 and its 200 day simple moving average is $99.03. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06.

Blueprint Medicines (NASDAQ:BPMCGet Free Report) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The business had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. During the same period last year, the business earned ($2.19) earnings per share. The firm’s revenue for the quarter was up 139.9% compared to the same quarter last year. On average, research analysts anticipate that Blueprint Medicines will post -3.99 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Blueprint Medicines by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after acquiring an additional 195,007 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock valued at $592,954,000 after acquiring an additional 821,868 shares during the last quarter. American Century Companies Inc. raised its position in shares of Blueprint Medicines by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after acquiring an additional 32,600 shares during the last quarter. Millennium Management LLC raised its position in shares of Blueprint Medicines by 540.0% during the 2nd 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. Finally, Hood River Capital Management LLC raised its position in shares of Blueprint Medicines by 7.0% during the 2nd quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock valued at $54,194,000 after acquiring an additional 32,694 shares during the last quarter.

About Blueprint Medicines

(Get Free Report

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.

Further Reading

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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