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

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $123.33.

Several research analysts have recently weighed in on BPMC shares. Needham & Company LLC reissued a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Wedbush reaffirmed an "outperform" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, November 14th. JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They set an "overweight" rating and a $126.00 target price on the stock. Finally, Guggenheim reissued a "buy" rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $95.91, for a total value of $218,099.34. Following the completion of the transaction, the chief operating officer now owns 69,383 shares in the company, valued at $6,654,523.53. This represents a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the transaction, the chief executive officer now directly owns 150,824 shares in the company, 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 three months, insiders sold 23,720 shares of company stock valued at $2,177,846. 4.21% of the stock is owned by insiders.

Institutional Trading of Blueprint Medicines

A number of large investors have recently bought and sold shares of BPMC. Hsbc Holdings PLC bought a new stake in shares of Blueprint Medicines in the second quarter valued at approximately $1,060,000. Federated Hermes Inc. raised its holdings in Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company's stock valued at $6,721,000 after acquiring an additional 13,579 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Blueprint Medicines by 48.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company's stock worth $23,332,000 after acquiring an additional 82,693 shares in the last quarter. Nicholas Investment Partners LP bought a new position in shares of Blueprint Medicines in the second quarter worth $4,377,000. Finally, Entropy Technologies LP purchased a new position in shares of Blueprint Medicines in the third quarter valued at $999,000.

Blueprint Medicines Trading Up 1.3 %

BPMC stock traded up $1.15 during trading on Friday, hitting $88.35. The company had a trading volume of 555,214 shares, compared to its average volume of 442,457. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a one year low of $72.24 and a one year high of $121.90. The business has a 50-day moving average of $93.04 and a 200-day moving average of $95.88. The stock has a market cap of $5.61 billion, a PE ratio of -41.87 and a beta of 0.61.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analysts' expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines's revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.20) earnings per share. Research analysts predict that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

About Blueprint Medicines

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.