Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) PT at $122.11

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-one research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $122.11.

A number of brokerages recently commented on BPMC. Guggenheim boosted their target price on Blueprint Medicines from $130.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Barclays boosted their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an "equal weight" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a research report on Thursday. They set an "overweight" rating and a $126.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday. Finally, Baird R W raised Blueprint Medicines to a "strong-buy" rating in a research note on Friday, August 2nd.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.21% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC bought a new stake in Blueprint Medicines during the second quarter valued at approximately $1,060,000. Comerica Bank grew its position in Blueprint Medicines by 2,582.9% in the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company's stock worth $1,028,000 after acquiring an additional 10,435 shares in the last quarter. Federated Hermes Inc. increased its stake in Blueprint Medicines by 27.8% in the second 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 last quarter. SG Americas Securities LLC raised its position in Blueprint Medicines by 82.8% during the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company's stock valued at $2,337,000 after purchasing an additional 9,819 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Blueprint Medicines by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company's stock worth $598,564,000 after purchasing an additional 195,007 shares during the last quarter.

Blueprint Medicines Trading Down 7.3 %

Blueprint Medicines stock traded down $6.96 during trading hours on Friday, reaching $88.69. 1,001,074 shares of the company's stock were exchanged, compared to its average volume of 692,935. The firm has a market capitalization of $5.63 billion, a PE ratio of -42.03 and a beta of 0.59. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The firm's 50 day simple moving average is $89.59 and its 200 day simple moving average is $98.91. Blueprint Medicines has a twelve month low of $62.56 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm's revenue for the quarter was up 126.5% on a year-over-year basis. During the same period in the previous year, the company posted ($2.20) earnings per share. Research analysts predict that Blueprint Medicines will post -3.61 earnings per share for the current 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.