Research Analysts’ Recent Ratings Changes for Blueprint Medicines (BPMC)

Several analysts have recently updated their ratings and price targets for Blueprint Medicines (NASDAQ: BPMC):

• 8/2/2024 – Blueprint Medicines was upgraded by analysts at Baird R W to a “strong-buy” rating.
• 8/2/2024 – Blueprint Medicines had its price target raised by analysts at Robert W. Baird from $112.00 to $127.00. They now have an “outperform” rating on the stock.
• 8/2/2024 – Blueprint Medicines had its price target raised by analysts at Guggenheim from $130.00 to $138.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Blueprint Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $130.00 price target on the stock.
• 7/29/2024 – Blueprint Medicines had its price target raised by analysts at Barclays PLC from $75.00 to $105.00. They now have an “equal weight” rating on the stock.
• 7/12/2024 – Blueprint Medicines had its price target raised by analysts at Morgan Stanley from $110.00 to $115.00. They now have an “equal weight” rating on the stock.
• 7/8/2024 – Blueprint Medicines had its price target raised by analysts at Oppenheimer Holdings Inc. from $114.00 to $125.00. They now have an “outperform” rating on the stock.
• 6/28/2024 – Blueprint Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $130.00 price target on the stock.

Blueprint Medicines Stock Performance

NASDAQ:BPMC traded up $1.77 during mid-day trading on Thursday, reaching $95.13. 268,331 shares of the stock were exchanged, compared to its average volume of 726,515. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. Blueprint Medicines Co. has a 1 year low of $43.89 and a 1 year high of $121.90. The company has a 50 day simple moving average of $106.98 and a 200-day simple moving average of $97.83. The stock has a market capitalization of $5.96 billion, a P/E ratio of -19.78 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 176.65%. The business had revenue of $138.20 million for the quarter, compared to analysts’ expectations of $104.02 million. During the same period in the previous year, the company posted ($2.19) EPS. The company’s quarterly revenue was up 139.9% on a year-over-year basis. Analysts anticipate that Blueprint Medicines Co. will post -4.67 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, insider L. Becker Hewes sold 34,108 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $105.91, for a total value of $3,612,378.28. Following the transaction, the insider now owns 36,860 shares of the company’s stock, valued at $3,903,842.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Debra Durso-Bumpus sold 333 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $111.15, for a total value of $37,012.95. Following the completion of the sale, the insider now owns 43,763 shares in the company, valued at $4,864,257.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider L. Becker Hewes sold 34,108 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $105.91, for a total value of $3,612,378.28. Following the completion of the transaction, the insider now owns 36,860 shares of the company’s stock, valued at approximately $3,903,842.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,977 shares of company stock worth $17,622,599. Company insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors have recently made changes to their positions in BPMC. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines in the 2nd quarter worth approximately $27,000. Covestor Ltd grew its holdings in Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Headlands Technologies LLC grew its holdings in Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares during the last quarter. Natixis purchased a new position in shares of Blueprint Medicines in the first quarter valued at $73,000. Finally, Van ECK Associates Corp raised its stake in shares of Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares during the last quarter.

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.