Oppenheimer Raises Blueprint Medicines (NASDAQ:BPMC) Price Target to $125.00

Blueprint Medicines (NASDAQ:BPMCFree Report) had its price objective hoisted by Oppenheimer from $114.00 to $125.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

Several other equities analysts also recently weighed in on BPMC. The Goldman Sachs Group raised their price target on Blueprint Medicines from $121.00 to $168.00 and gave the company a buy rating in a report on Monday, May 6th. Piper Sandler boosted their price target on Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a report on Friday, May 3rd. HC Wainwright boosted their target price on Blueprint Medicines from $125.00 to $135.00 and gave the company a buy rating in a research report on Friday, May 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $130.00 price objective on shares of Blueprint Medicines in a research report on Friday, June 28th. Finally, StockNews.com raised Blueprint Medicines from a sell rating to a hold rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $112.87.

Read Our Latest Analysis on BPMC

Blueprint Medicines Trading Up 0.6 %

Shares of Blueprint Medicines stock opened at $115.95 on Monday. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $106.45 and its 200-day moving average price is $94.13. The company has a market cap of $7.26 billion, a price-to-earnings ratio of -24.11 and a beta of 0.63. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $119.30.

Blueprint Medicines (NASDAQ:BPMCGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.32. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The firm had revenue of $96.12 million during the quarter, compared to analyst estimates of $82.58 million. On average, equities analysts expect that Blueprint Medicines will post -5.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Debra Durso-Bumpus sold 74,034 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Ariel Hurley sold 1,834 shares of Blueprint Medicines stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the sale, the insider now directly owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Debra Durso-Bumpus sold 74,034 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $104.19, for a total value of $7,713,602.46. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,559,666.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,898 shares of company stock valued at $14,957,242. 4.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in 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 purchasing an additional 195,007 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 in the last quarter. Wellington Management Group LLP boosted its holdings in Blueprint Medicines by 3.2% in the third quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock worth $255,144,000 after purchasing an additional 156,807 shares in the last quarter. Polar Capital Holdings Plc boosted its holdings in Blueprint Medicines by 108.0% in the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after purchasing an additional 540,000 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in Blueprint Medicines by 6.1% during the fourth quarter. Brown Advisory Inc. now owns 679,920 shares of the biotechnology company’s stock valued at $62,716,000 after acquiring an additional 38,881 shares during the period.

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.

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