Raymond James Lowers Blueprint Medicines (NASDAQ:BPMC) Price Target to $115.00

Blueprint Medicines (NASDAQ:BPMCGet Rating) had its price target trimmed by Raymond James from $133.00 to $115.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a strong-buy rating on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on BPMC. JMP Securities restated a buy rating and set a $152.00 target price on shares of Blueprint Medicines in a research note on Thursday, June 9th. SVB Leerink upped their target price on Blueprint Medicines from $56.00 to $65.00 and gave the stock a market perform rating in a research note on Wednesday. Oppenheimer initiated coverage on Blueprint Medicines in a research note on Thursday, July 7th. They issued an outperform rating and a $80.00 price target for the company. Morgan Stanley dropped their price target on Blueprint Medicines from $92.00 to $65.00 and set an equal weight rating for the company in a research note on Tuesday, June 14th. Finally, The Goldman Sachs Group increased their price target on Blueprint Medicines from $126.00 to $143.00 and gave the company a buy rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $91.47.

Blueprint Medicines Trading Up 5.3 %

Shares of BPMC stock opened at $68.14 on Wednesday. The stock has a 50 day simple moving average of $54.16 and a 200 day simple moving average of $61.29. Blueprint Medicines has a 1 year low of $43.46 and a 1 year high of $117.86.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.23) by ($0.45). The company had revenue of $36.55 million during the quarter, compared to the consensus estimate of $37.61 million. Blueprint Medicines had a negative net margin of 304.41% and a negative return on equity of 45.89%. The company’s quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the firm posted ($1.86) earnings per share. On average, equities research analysts expect that Blueprint Medicines will post -9.11 earnings per share for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Percy H. Carter sold 1,908 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $59.76, for a total transaction of $114,022.08. Following the completion of the sale, the insider now directly owns 28,685 shares in the company, valued at approximately $1,714,215.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.34% of the company’s stock.

Institutional Trading of Blueprint Medicines

Large investors have recently made changes to their positions in the company. CWM LLC acquired a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $34,000. Nisa Investment Advisors LLC grew its stake in shares of Blueprint Medicines by 50.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 684 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 230 shares during the period. Exane Derivatives grew its stake in shares of Blueprint Medicines by 45.8% in the 1st quarter. Exane Derivatives now owns 567 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 178 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Blueprint Medicines by 414.2% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 617 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 497 shares during the period. Finally, Prospera Financial Services Inc acquired a new stake in shares of Blueprint Medicines in the 1st quarter valued at about $42,000. 99.69% of the stock is currently owned by institutional investors and hedge funds.

About Blueprint Medicines

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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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.

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